Baidu shares plummet after the Chinese search site switches its ad technology


Baidu (BIDU) -- the Google of China -- took a major stock market beating Tuesday, as investors bailed out following the company's warning that revenue may fall while it rolls out a new advertising system. On Monday, Baidu announced a 42 percent jump in third-quarter profit, beating analysts' expectations, as more large clients moved into web advertising. But the shares plunged after the company said it expects a "temporary negative impact" on next quarter's revenue as it transitions to the new ad system, called Phoenix Nest.