BIDU stock surges 7% on beat, buyback decision

Share: Baidu released Q4 earnings Wednesday morning. BIDU stock rose more than 7% on earnings beat Alibaba stock also jumped 1.3% on the news. After a troubled early week, NASDAQ futures are up 0.3%. Baidu (BIDU) stock surged more than 7% in Wednesday's premarket to $151.20 after China's search giant beat Wall Street's expecations for sales and profits and introduced a $5 billion buyback plan. Despite revenue coming in largely flat from the period a year ago, the figure beat consensus by $170 million. Fellow Chinese megacap Alibaba (BABA) saw its ADRs rise 1.3% in tandem. NASDAQ futures have