Tag Archives: bidu

This Could Signal Apple’s Car Ambitions Are Moving Forward

Loading the player… Apple ’s ( AAPL ) car ambitions look to be moving forward. The tech titan apparently is “significantly ramping” its electric-car project, which could one day compete with the likes of Tesla Motors ( TSLA ), Alphabet ( GOOGL )-owned Google, China’s Baidu ( BIDU ) and even General Motors ( GM ). Apple has leased a 96,000-square-foot facility in Silicon Valley’s Sunnyvale, according to multiple reports, with some speculating that the company is using the space for its “Project Titan” car project. Meanwhile, Fiat Chrysler ( FCAU ) CEO Sergio Marchionne said at the Geneva International Motor Show today that his company would be well-suited to partner with Apple in building the tech company’s electric car. Apple has recruited a large number of auto experts, with specializations ranging from batteries to autonomous driving, but it has yet to publicly confirm any of its plans. Because of that, we still have no idea what an Apple car would look like. Some industry experts say there’s no question that Apple will build a car . The rumored ship-date target is 2019. Earlier this month, Apple received a car-related patent for a mobile device sensor to “determine when the user is in a vehicle that is driving.” But Apple could be hitting roadblocks. In January, reports said that Steve Zadesky, who has led Apple’s e-car efforts, was stepping down . Apple closed up 0.2% to 100.75 in below-average volume on the stock market today . Shares are holding above their 50-day line after retaking that level yesterday, and tested support at the 100 price level. Alphabet dropped below its 50-day line in intraday trade, after climbing above that area in Tuesday’s session, and closed right at that level with a 0.4% loss. Baidu looked for support at its 200-day line, falling 1.8%. And GM, nearing its 50-day line, rose 0.5%.

Baidu Travel Service Qunar Reportedly Launching Airline

Chinese Internet search leader Baidu ‘s ( BIDU ) online travel service Qunar Cayman Islands ( QUNR ) has reportedly confirmed that its travel operation is preparing to launch an airline, in conjunction with two other China-based companies. The airline startup, to be operated by Qunar and a pair of Shenzhen-based firms, will mainly operate domestic and short-haul international flights to nearby countries, with Qunar leading online sales efforts, said reports by Marbridge Consulting and Travel Daily Media . Competition sparked the move, with nine airlines indicating that they would be temporarily suspending their cooperation with Qunar since the end of 2015 due to a dispute over passenger charges, according to reports by Marbridge and Reuters . “Airlines are also shifting their strategy toward selling tickets directly to consumers in an effort to reduce marketing costs,” said Marbridge. “For example, China Southern Airlines ( ZNH ) announced on Feb. 23 that it was cutting the price of domestic flights bought through its own website by 60%. These actions by Chinese airlines were a key catalyst in Qunar’s decision to set up its own airline, according to Chinese news media reports.” Qunar — nicknamed the “Kayak.com of China” — operates in a rapidly growing travel search market, but price wars and competition have dented its profits and profit margins. The number of Chinese leisure travelers going overseas topped 100 million in 2014, Reuters reported, saying foreign travel is expected to grow 10% this year despite China’s slowing economic growth. Qunar posted Q3 revenue of $208.5 million, up 164% from the year-earlier quarter, but its adjusted net loss more than doubled, to $98 million, as it invests in marketing, product sourcing and product development. But both the top and bottom lines beat the consensus view of analysts polled by Thomson Reuters by about 11%. Qunar reported a net loss of 87 cents per American Depositary Share. In October, Baidu-backed Qunar announced a share swap with Ctrip.com ( CTRP ), another leading Chinese online travel agency. Baidu stock was down 2% in afternoon trading in the stock market today , near 176, while Ctrip.com was down 3%, and Qunar was down a fraction.

Qunar, Whose Owners Include Baidu, Reportedly Launching Airline

Online travel service Qunar Cayman Islands ( QUNR ), whose owners include Chinese Internet search leader Baidu ( BIDU ), has reportedly confirmed that its travel operation is preparing to launch an airline, in conjunction with two other China-based companies. The airline startup, to be operated by Qunar and a pair of Shenzhen-based firms, will mainly operate domestic and short-haul international flights to nearby countries, with Qunar leading online sales efforts, said reports by Marbridge Consulting and Travel Daily Media . Competition sparked the move, with nine airlines indicating that they would be temporarily suspending their cooperation with Qunar since the end of 2015 due to a dispute over passenger charges, according to reports by Marbridge and Reuters . “Airlines are also shifting their strategy toward selling tickets directly to consumers in an effort to reduce marketing costs,” said Marbridge. “For example, China Southern Airlines ( ZNH ) announced on Feb. 23 that it was cutting the price of domestic flights bought through its own website by 60%. These actions by Chinese airlines were a key catalyst in Qunar’s decision to set up its own airline, according to Chinese news media reports.” Qunar — nicknamed the “Kayak.com of China” — operates in a rapidly growing travel search market, but price wars and competition have dented its profits and profit margins. The number of Chinese leisure travelers going overseas topped 100 million in 2014, Reuters reported, saying foreign travel is expected to grow 10% this year despite China’s slowing economic growth. Qunar posted Q3 revenue of $208.5 million, up 164% from the year-earlier quarter, but its adjusted net loss more than doubled, to $98 million, as it invests in marketing, product sourcing and product development. But both the top and bottom lines beat the consensus view of analysts polled by Thomson Reuters by about 11%. Qunar reported a net loss of 87 cents per American Depositary Share. In October, Baidu-backed Qunar announced a share swap with Ctrip.com ( CTRP ), another leading Chinese online travel agency. Baidu, which had been Qunar’s majority owner, now owns 3% of Qunar, a Baidu spokesman told IBD. The spokesman said Baidu now owns 25% of Ctrip, which owns 45% of Qunar. Baidu stock was down 2% in afternoon trading in the stock market today , near 176, while Ctrip.com was down 3%, and Qunar was down a fraction.