Baidu shares fell 7.2% in premarket trading on Tuesday after the Chinese internet company reported second-quarter revenue and adjusted earnings below analysts' estimates. The company reported revenue of RMB31.3B, or $4.62B, down 4% from a year earlier and below the $4.74B consensus estimate, while non-GAAP diluted earnings came in at $1.06 per ADS, missing the $1.46 estimate. Weakness in its online marketing business offset strong growth in AI cloud services. Home Depot shares rose 2.16% after reporting second-quarter revenue of $47.9B, up 5.8% from a year earlier, with comparable sales rising 1.7% versus the 0.9% consensus estimate. Nike shares closed at $39.09 on Monday, their lowest close since 2014, while Alibaba shares rose 2.7% to a two-week high ahead of its June-quarter earnings release.
Baidu IncBaidu missed revenue and earnings estimates, causing shares to fall.
Alibaba Group Holding Ltd
Astera Labs, Inc.
The Home Depot IncHome Depot reported Q2 revenue and comparable sales above consensus, indicating strong demand.
Nike Inc
