Orlando, FL -- (SBWIRE) -- 09/11/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Baidu.com, Inc. (ADR)(NASDAQ:BIDU), Freeport-McMoRan Copper & Gold Inc.(NYSE:FCX).
Baidu.com, Inc. (ADR)(NASDAQ:BIDU) shares climbed 2.94% to $140.60. Baidu Inc. (BIDU)’s travel-booking service Qunar.com Inc. is planning a U.S. initial public offering that may raise about $150 million, said two people with knowledge of the matter on Sept. 9.
Qunar, which runs China’s most popular mobile travel app, is working with Deutsche Bank AG and Goldman Sachs Group Inc. on the sale, said the people, who asked not to be identified because the process is private. An IPO may take place as early as in the fourth quarter, they said. Baidu, operator of China’s largest search engine, paid $306 million in 2011 for a majority stake in Qunar to tap the country’s growing travel market.
Additionally, Baidu, Inc. and Renren Inc. (NYSE: RENN) on August 23 announced that Baidu Holdings Limited, a subsidiary of Baidu, and Renren have entered into a definitive agreement (the "Agreement"), pursuant to which Baidu Holdings Limited will acquire a certain number of newly issued ordinary shares of Nuomi Holdings Inc., a wholly-owned subsidiary of Renren, representing approximately 59% of the equity interest in Nuomi, for a purchase price of US$160 millionin cash.
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Freeport-McMoRan Copper & Gold Inc.(NYSE:FCX) shares increased 0.28% to $31.93. FCX’s stock was upgraded by research analysts at Barclays Capital from a “market weight” rating to an “overweight” rating in a report released on Sept. 9.
Additionally, the company on August 15 announced with great sadness that co-founder B.M. “Mack” Rankin, Vice Chairman and a member of its Board of Directors, died yesterday at the age of 83 after a courageous battle with cancer. Mr. Rankin co-founded McMoRan Oil & Gas Co. in 1969 with James R. Moffett and W. K. McWilliams (deceased).
Moreover, the company on July 23 reported net income attributable to common stock of $482 million, $0.49 per share, for second-quarter 2013 and $1.1 billion, $1.17 per share, for the first six months of 2013, compared with $710 million, $0.74 per share, for second-quarter 2012 and $1.5 billion, $1.55 per share, for the first six months of 2012.
Is FCX going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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