Tuesday, September 19, 2006

Internet Portal Companies Took Hit

The internet related companies took hits today after Yahoo (YHOO) announced slow down in ad sales, quote from CBS Market Watch:
SAN FRANCISCO (MarketWatch) -- A slowdown in advertising revenues from Yahoo Inc.'s auto and financial features over the last three to four weeks will impact Yahoo's upcoming third quarter financial results, Yahoo executives told analysts on Tuesday. Yahoo chief Financial Officer Sue Decker told the gathering that, because of the ad slowdown, Yahoo expects Q3 sales to "come in the bottom half" of the $1.1 billion and $1.2 billion Yahoo projected in July. Shares of Yahoo were trading lower by 7.5% to $26.77 on Tuesday.
Need to get out of (GOOG) and (EBAY), while they are still high. These stocks also dragged the Nasdaq index down.

No comments: