Nasdaq Today: Strong Quarter Lifts Baidu Stock; Expedia Gets a Downgrade

On a mixed day for the broader stock market, the tech stocks that make up a disproportionately large part of the Nasdaq fared better than most. As of just before noon EDT, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up more than half a percentage point, outperforming the breakeven performance from the S&P 500. The Nasdaq 100 Index saw similar gains of about 0.6%.

Making news among Nasdaq 100 stocks was Baidu (NASDAQ: BIDU), which released earnings results for the first quarter that gave investors greater confidence in the broader Chinese stock market. Expedia Group (NASDAQ: EXPE) wasn't so lucky, however, with ongoing strains on the travel industry hitting the online-booking specialist and leading one stock analyst to downgrade its stock.

Baidu stock gained 6% following the Chinese internet company's first-quarter financial report. The latest numbers from Baidu showed the struggles that the company faces in a tough environment, but the results were better than many investors had feared.