The Chinese search giant announced on Tuesday that it signed a memorandum of understanding to buy a 100% interest in NetDragon subsidiary 91 Wireless for $1.9 billion.
Baidu shares rose 7.09% to $108.79 in premarket trading. The company was also one of the most active premarket Nasdaq stocks on share volume of 335,725.
Facebook (FB) was a more modest gainer, rising 0.46% to $26.40. The social networking company was another active premarket stock on share volume of 346,499. ZNGA (ZNGA), a key Facebook partner, was also heading northward, rising 1.97% to $3.62.Tesla (TSLA) shares, however, were off 1.46% at $125.40 in premarket trading. Emulex (ELX) was another laggard, falling 1.92% to $8.16 as investors digested the company's CEO transition and its preliminary fiscal fourth-quarter results. Vodafone (VOD) shares dipped 0.27% to $29.37. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV