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Hedge Funds make a Bundle on Baidu $BIDU After Q3 Earnings Report

Baidu Inc (BIDU), China’s largest Internet company by market cap announced “third-quarter profit rose 80 percent to 1.88 billion yuan ($296 million) to beat analysts’ estimates as revenue from search-engine advertising surged,” according to Bloomberg. BIDU has been rising consistently after a volatile September over fears of a slowdown in China and the Chinese government asking Internet companies to “strengthen management of information publication,” reports Yahoo! Finance. It has strong prospects for growth and an impressive track record, “Baidu has topped analyst EPS estimates each quarter over the past two years. During that span, the stock has risen the next session six of eight quarters. Seasonally, the stock has risen two of the past four years.”


Investors’ positive reaction to BIDU’s earnings report pushed the stock from $138.39 at close yesterday to reach a high of $147.68 shortly after trading began. The following hedge funds made the most on the increase:

1. Fisher Asset Management – Ken Fisher: Gained $39.1 million

2. Viking Global – Andreas Halvorsen: Gained $19.9 million

3. Coatue Management – Philippe Laffont: Gained $18.7 million

4. Capital Growth Management – Ken Heebner: Gained $14.7 million

5. Jat Capital Management – John Thaler: Gained $13.9 million

6. Tiger Global Management Llc – Chase Coleman: $9.3 million

7. Kleinheinz Capital Partners – John Kleinheinz: $7.8 million

8. Partner Fund Management – Christopher Medlock James: Gained $7.3 million

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in BIDU since the end of June. We did not take into account their option positions.

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