It "may be time to buy" shares of the Web companies.
Published:
20 February 1999 y., Saturday
Shares of Internet companies continued to rise in afternoon trading after CIBC Oppenheimer & Company
analyst Henry Blodget said it is time to buy industry bellwethers Amazon.com and Yahoo following recent price declines.
Shares of Amazon.com rose 9.75 to 99.25, while Yahoo rose 8.0625 to 136.9375.
Since hitting records in mid-January, Seattle-based Amazon has declined by about half, while Yahoo has dropped about 40
percent. On Wednesday, Softbank, Japans_s top software distributor and a major shareholder in dozens of Internet ventures,
sold part of its stock in Yahoo to finance new investments. Blodget is telling his clients it "may be time to buy" shares of the companies, CNBC reported. Shares of Amazon surged in
mid-December after Blodget said it could reach $400 per share, prior to its 3-for-1 stock split.
Šaltinis:
Bloomberg News
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The future of Europe's troubled car market and 12 million jobs was under scrutiny Tuesday.
more »
Europe must take the lead in finding solutions to the global crisis at next week's G20 summit, British prime minister Gordon Brown told MEPs in a speech in Strasbourg on Tuesday that was warmly welcomed by leaders of the main political groups.
more »
The US and Europe are in the worst economic crisis since the 1930s. With unemployment rising dramatically and businesses failing, fear is spreading.
more »
Monday evening sees MEPs consider the emotive subject of food prices in Europe.
more »
Shares in Wincor Nixdorf AG have fallen 3.5 percent and the ATM company says it is preparing to cut production hours.
more »
Leaders agreed to use €5bn in unspent EU funds to upgrade energy and internet connections. And they raised the ceiling on EU aid to countries having difficulties.
more »
Charges on heavy-goods vehicles should be based in part on the air and noise pollution they produce, according to legislation approved by the European Parliament today.
more »
EU agriculture officials are about to get a reality check. Starting next year, their on-the-job training will include a stint on a working farm.
more »
Privatisation, balanced budgets, low public deficits, and free trade have long been the mantra for prudent economic management.
more »
Building roads and pipelines, ensuring food safety, improving education, fighting discrimination and boosting jobs are all funded from the EU budget.
more »