Tuesday, June 21, 2011

Focus Stocks: BIDU, ALU, AMD, BBY, AMD

Baidu, Inc. (NASDAQ: BIDU) on Tuesday announced that it has entered into a new strategic partnership agreement with China Real Estate Information Corporation, a leading provider of real estate information, consulting and online services in China, and +3.40%  , the leading Chinese language Internet search provider. Under the agreement, CRIC will become Baidu's premier strategic online real estate partner and will have the exclusive right to sell Baidu's real estate brandlink product, which is one form of keyword advertising, during the next three years. In addition, the two companies will continue their previous cooperation in several other Baidu products, including Baidu Website Promotion, Baidu Encyclopedia, Baidu Knows and Baidu Map, to further expand the online search-based advertising market for the real estate industry.

Alcatel-Lucent (NYSE: ALU) rose more than 2% on Tuesday after the company announced that it will hold a live web press conference on Tuesday June 28 to announce a groundbreaking innovation in Internet Protocol technology which will advance the future performance of the Internet.

Shares of Advanced Micro Devices, Inc. (NYSE:AMD) climbed more than 2% after Bright Side of News reported that the chipmaker's next CEO may come from IBM (NYSE:IBM).

Best Buy Co., Inc. (NYSE: BBY) on Tuesday announced that its board of directors has authorized a new $5 billion share repurchase program. The new program terminates and replaces the Company's prior $5.5 billion share repurchase program, which was announced on June 27, 2007 and had approximately $800 million of remaining authorization as of the first fiscal quarter of 2012 ended May 28, 2011.

Discover Financial (NYSE: DFS) rallied as much as 2% on Tuesday after Macquarie upgraded its rating on the company to Outperform from Neutral.

Full Disclosure: None.
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