Brean Capital analyst Fawne Jiang downgraded Baidu to Hold after the company's earnings in Q2 and sales guidance for Q3 missed expectations. Baidu's earnings growth will likely be muted as it invests in the O2O business, Jiang tells investors in a research note. The analyst believes Baidu is moving in the strategically right direction, however. Shares of the Chinese-language Internet search provider dropped $15.68 to $182 after reporting earnings last night.
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