- Impact
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http://www.breitbart.com/news/2006/07/19/D8IV6VRG0.html
Snip below, but the biggest thing is the IB's still push this stock... Agreed, at down 20% there does exist the potential for a buying opportunity, but GERKY's hurting, and has been, long before anyone in IB sobers up
Yahoo Inc.'s stock price plunged by more than 20 percent Wednesday, shoving the shares to their lowest level in more than two years as investors punished the Internet powerhouse for postponing a pivotal change to the advertising formula that propels its profits.
The Sunnyvale, Calif.-based company jarred Wall Street with the unexpected delay late Tuesday after announcing solid second-quarter results that matched analyst estimates.
Investors quickly showed their dismay Wednesday as Yahoo's shares plummeted 21 percent to as low as $25.38 on the Nasdaq Stock Market. That marked the stock's lowest point since it traded at a split- adjusted $25.34 in May 2004.
By early afternoon, the shares were down $6.48, or 20.1 percent, at $25.76 on the Nasdaq. The slide wiped out $9.6 billion in shareholder wealth.
Here's Yahoo's problem as Wall Street sees it: the owner of the Internet's most trafficked Web site keeps raking in more money as advertisers continue to shift their spending online, but it still lags well behind search engine leader Google Inc.
And now it looks like Yahoo won't be closing that gap as soon as management had promised.
"I can sense the frustration of investors," said Piper Jaffray analyst Safa Rashtchy. "It's discouraging and disheartening, especially because Yahoo didn't really give a good reason for the delay."
Rashtchy is maintaining his "outperform" rating on Yahoo's stock, although he lowered his 12-month target for the shares from $42 to $36.
Snip below, but the biggest thing is the IB's still push this stock... Agreed, at down 20% there does exist the potential for a buying opportunity, but GERKY's hurting, and has been, long before anyone in IB sobers up
Yahoo Inc.'s stock price plunged by more than 20 percent Wednesday, shoving the shares to their lowest level in more than two years as investors punished the Internet powerhouse for postponing a pivotal change to the advertising formula that propels its profits.
The Sunnyvale, Calif.-based company jarred Wall Street with the unexpected delay late Tuesday after announcing solid second-quarter results that matched analyst estimates.
Investors quickly showed their dismay Wednesday as Yahoo's shares plummeted 21 percent to as low as $25.38 on the Nasdaq Stock Market. That marked the stock's lowest point since it traded at a split- adjusted $25.34 in May 2004.
By early afternoon, the shares were down $6.48, or 20.1 percent, at $25.76 on the Nasdaq. The slide wiped out $9.6 billion in shareholder wealth.
Here's Yahoo's problem as Wall Street sees it: the owner of the Internet's most trafficked Web site keeps raking in more money as advertisers continue to shift their spending online, but it still lags well behind search engine leader Google Inc.
And now it looks like Yahoo won't be closing that gap as soon as management had promised.
"I can sense the frustration of investors," said Piper Jaffray analyst Safa Rashtchy. "It's discouraging and disheartening, especially because Yahoo didn't really give a good reason for the delay."
Rashtchy is maintaining his "outperform" rating on Yahoo's stock, although he lowered his 12-month target for the shares from $42 to $36.
