Author Archives: Scalper1

Baidu Price Target Cut On Shrinking Ad Sales

Baidu (BIDU) got a price target cut on Tuesday from Summit Research, which said that the company, China’s search leader, is already losing business from major advertisers and is expected to feel a sting after selling its online health forums to “unqualified medical agencies that posted misleading information. ” Summit Research analyst Henry Guo lowered his price target on Baidu stock to 169 from 189 while maintaining a hold rating, citing “the

J&J Overhauling Device Business, Cutting 3,000 Jobs

Medical giant Johnson & Johnson (JNJ) said Tuesday that it’s restructuring its device division in a bid to save up to $1 billion annually by the end of 2018. J&J didn’t provide many details in its press release, saying that it will discuss the project further when it reports its Q4 earnings on Jan. 26. However, it did specify that the move will involve trimming 4% to 6% of the unit’s global workforce over the next two years, amounting to about