NEW YORK, NY / ACCESSWIRE / August 17, 2017 / Baidu Inc. had a couple of big announcements this week. It reported early in the week that its app Du, an Android screen recorder, has now over 10 million users. The company then announced yesterday that a buyer group has invested in China Unicom. Jefferies reiterated its "buy" rating on Momo Inc.

RDI Initiates Coverage on:

Baidu, Inc.
https://ub.rdinvesting.com/news/?ticker=BIDU

Momo Inc.
https://ub.rdinvesting.com/news/?ticker=MOMO

Baidu, Inc.'s shares closed up a modest 0.36% on Wednesday. Though the day was pretty flat for trading, the company had some significant news. The leading Chinese language internet search provider announced that an investor consortium led by Baidu has entered into a share purchase agreement with China United Network Communication Limited. This is one of the largest telecommunications companies in the country of China. According to the company's press release, the Buyer Group will invest RMB7.0 billion in exchange for privately issued shares of China Unicom. In connection with the investment, Baidu has entered into a business cooperation agreement with China Unicom. Earlier in the week the company also announced that its Android screen recorder app DU Recorder, has exceeded 10 million users worldwide since it was first launched in September 2016. "It's wonderful to see such a dedicated fan base and amazing growth," remarked product director of Baidu's Global Business Unit Mr. Cailin Tang. "We want DU Recorder to remain the top choice of video content creators. We're committed to giving our users the best possible pro-level recording experience, including new features, for free."

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https://ub.rdinvesting.com/news/?ticker=BIDU

Momo Inc.'s shares traded pretty flat in Wednesday trading. Though there was no news from the Chinese mobile-based social networking platform, a Jefferies 5 star analyst reiterated a "buy" rating earlier this week on the stock. Karen Chan also set a price target of $54. The analyst consensus on the stock is "moderate buy" with a consensus price target of $54. Momo will be reporting its unaudited financial results for the second quarter ended June 30, 2017 before U.S. markets open on Tuesday, August 22, 2017. In its last earnings report which ended on March 31st, the company posted revenue of $259M and a net profit of $79.38 million. This was significantly ahead of the $97.04 million revenue and $15.11 million net profit that Momo reported one year earlier.

Access RDI's Momo Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=MOMO

Our Actionable Research on Baidu, Inc. (NASDAQ: BIDU) and Momo Inc. (NASDAQ: MOMO) can be downloaded free of charge at Research Driven Investing.

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