Upcoming AWS Coverage on Weibo Post-Earnings Results
LONDON, UK / ACCESSWIRE / June 2, 2017 / Active Wall St. blog coverage looks at the headline from Baidu Inc. (NASDAQ: BIDU). Continental AG, a leading auto parts supplier, announced on May 31, 2017, that it has signed a strategic cooperation agreement with Baidu, which is one of the biggest Internet Companies in China. The agreement is designed with a goal to establish a comprehensive strategic collaboration in the areas of automated driving, connected vehicles, and intelligent mobility services. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.
One of Baidu's competitors within the Internet Information Providers space, Weibo Corporation (NASDAQ: WB), announced on May 16, 2017, its unaudited financial results for Q1 2017 which ended on March 31, 2017. AWS will be initiating a research report on Weibo in the coming days.
Today, AWS is promoting its blog coverage on BIDU; touching on WB. Get all of our free blog coverage and more by clicking on the link below: http://www.activewallst.com/register/.
The Agreement
Continental and Baidu will expand technology exchanges by utilizing each other's competitive advantages in automotive components and Internet technology and form an effective technical alliance. Both the Companies will judiciously use complementary resources and technology know-how, where both the partners intend to develop technologies products and business models to design comprehensive and reliable solutions for automated driving, connected vehicles, and intelligent mobility services.
Continental is a leading developer and provider of futuristic pioneering technologies and services for enhancing mobility. Baidu, on the other hand, is one of the most important Internet Companies in China. Baidu views this agreement as an upgrade to intelligence in the automobile industry while developing a new ecosystem of intelligent mobility and automated driving, thus enabling rapid growth of existing industries and new ones.
Under terms of the agreement, Continental and Baidu will explore collaboration segments, such as sensor systems and software for advanced driver assistance systems and automated driving applications for Baidu's Apollo platform including artificial intelligence, cyber security, and connected cars, as well as road test, data collection and analysis for automated driving.
The Apollo Project
The Chinese Internet giant, Baidu, revealed on April 18, 2017, its Apollo Project under which the Company will open up its platforms, including vehicle platform, hardware platform, software platform, and cloud data services, to help others in the industry. This move benefitted many industries, and particularly the car manufacturers to enable the development of autonomous vehicles.
Baidu announced the initial target to open the technologies up for vehicles in restricted environments by the end of July 2017. The Company further announced that it plans to share technology for simple, urban road conditions, before the end of the year, with the ultimate goal of opening a full tech stack, which could cover fully autonomous driving capabilities on highways and open city roads by 2020.
Growth Prospects
Continental, well-known among consumers for their tires has been working on autonomous vehicles, where on April 13, 2017 it opened a new 65,000-square-foot automotive research center in San Jose. The Company additionally signed an agreement with NIO, a global electric vehicle startup, on May 31, 2017. Continental will supply vehicle technology and tires to NIO's ES8 electric SUV in a first step.
Baidu opened up its Sunnyvale research center in 2014 in an attempt to develop a full-fledged car.
Baidu was one of the first major tech firms to include artificial intelligence and machine learning under its portfolio, where the autonomous vehicle push began with road testing in Beijing in 2015. In November 2016, the Company offered test rides to attendees at the World Internet Conference, Wuzhen.
Baidu additionally holds the permit to test vehicles in California as per a self-driving permit from the California DMV, in August 2016, where it owns research labs, including its AI division.
Stock Performance
On Thursday, June 01, 2017, the stock closed the trading session at $187.26, slightly up 0.62% from its previous closing price of $186.10. A total volume of 2.06 million shares have exchanged hands. Baidu's stock price surged 7.32% in the last three months, 10.69% in the past six months, and 6.08% in the previous twelve months. Moreover, the stock rallied 13.90% since the start of the year. The stock is trading at a PE ratio of 49.25 and currently has a market cap of $65.56 billion.
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SOURCE: Active Wall Street