Global Equities Roundup: Market Talk

Dow Jones07-24

The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

0416 GMT - Baidu's advertising business could be weighed by China's weak persistent macro weakness, Morningstar analyst Kai Wang says in a research note. While Baidu said its advertising business, which makes up 72% of its revenue, could see recovery in low-single-digits starting in 2Q, Morningstar sees visibility of the recovery as limited amid China's macro concerns. Baidu's ads revenue growth, which is historically at least at par with China's GDP growth, will likely underperform the benchmark in 2024, Wang says. However, a bright spot could be its cloud business revenue, which the analyst expects may rise 15% on year in 2Q and mid-teens in 2025. Morningstar lowers Baidu's fair value estimate to HK$162.00 from HK$171.00. Shares are last at HK$87.90. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

July 24, 2024 00:16 ET (04:16 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Baidu's ads revenue growth, which is historically at least at par with China's GDP growth, will likely underperform the benchmark in 2024, Wang says. However, a bright spot could be its cloud business revenue, which the analyst expects may rise 15% on year in 2Q and mid-teens in 2025. Morningstar lowers Baidu's fair value estimate to HK$162.00 from HK$171.00. Shares are last at HK$87.90. (sherry.qin@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 24, 2024 00:16 ET (04:16 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Global Equities Roundup: Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGlobal Equities Roundup: Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-24 12:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The latest Market Talks covering Equities. 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Published exclusively on Dow Jones Newswires throughout the day. \n\n\n  0416 GMT - Baidu's advertising business could be weighed by China's weak persistent macro weakness, Morningstar analyst Kai Wang says in a research note. While Baidu said its advertising business, which makes up 72% of its revenue, could see recovery in low-single-digits starting in 2Q, Morningstar sees visibility of the recovery as limited amid China's macro concerns. Baidu's ads revenue growth, which is historically at least at par with China's GDP growth, will likely underperform the benchmark in 2024, Wang says. However, a bright spot could be its cloud business revenue, which the analyst expects may rise 15% on year in 2Q and mid-teens in 2025. Morningstar lowers Baidu's fair value estimate to HK$162.00 from HK$171.00. Shares are last at HK$87.90. 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