Baidu should be sold as market rebounds, says Citigroup Citigroup recommends selling shares of Baidu as the market rebounds instead of buying on dips. Citi expects the company to have a challenging 2013 and thinks acquisitions may not solve the company's problem with monetizing mobile traffic. The firm keeps a Sell rating on the stock with a $95.10 price target.
Baidu to partner with Citic Bank to launch online bank, Financial Times reports Baidu will partner with Citic Bank to launch an online bank, reports the Financial Times. China Citic Bank had suspended its shares in Shanghai and Hong Kong on Monday pending announcement of a "proposed external investment" while Baidu said it would make an announcement on Wednesday. Reference Link