NEW YORK (TheStreet) -- Shares of online retailer LightInTheBox (LITB) surged 9.07% to $8.22 in morning trading Tuesday after the company announced a partnership with Chinese web services giant Baidu (BIDU) .
Baidu will promote and distribute LightInTheBox's products and apps, which should provide a larger audience for the retailer. In return, LightInTheBox will provide Baidu with additional monetization capability for its app distribution.
"We are very excited to have the strategic partnership with Baidu Dianxin to help explore global market opportunities," said Alan Guo, chairman and CEO of LightInTheBox, in a statement. "This is a great example of two Chinese Internet companies working together to expand in global markets."
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More than 1.2 million shares had changed hands as of 10:27 a.m., compared to the average volume of 187,238.
Separately, TheStreet Ratings team rates LIGHTINTHEBOX HLDG -ADR as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate LIGHTINTHEBOX HLDG -ADR (LITB) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share and deteriorating net income."