Baidu.com BIDU Downgraded Citigroup 11/19/08

Citigroup is out this afternoon, 11/19/08, downgrading Baidu.com ( BIDU ) to sell. Baidu.com has been hit hard lately due to a report that they rank unlicensed drug companies higher in their search engine because they pay more.

At this point, I will have to see if $110 & $100 hold before I get back in....just one bad news story after another in this terrible stock market. I wonder when Baidu will put their 200 million buyback plan to work. They could buy back 6% of the company at this price.

This definitely benefits Google ( GOOG ) as they are #2 in China search.

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