News Snapshot:
Shares of Alibaba Group Holding Ltd BABA and other Chinese names including JD.com Inc JD and Pinduoduo Inc PDD are moving lower Tuesday after Baidu Inc BIDU shares fell on mixed second-quarter earnings results. - BIDU Revenue: $4.43 billion missed estimate of $4.45 billion - BIDU EPS: $2.36 beat estimate of $1.63 "Despite a challenging macro environment caused by Covid-19, Baidu Core generated RMB23.2 billion in revenues in the second quarter, while Baidu AI Cloud revenues maintained rapid growth momentum of 31% year over year and 10% quarter over quarter," said Robin Li, co-founder and CEO of Baidu. What Else...
