October 14, 2000 |
Friday the 13th proved to be Wall Street's lucky day as aggressive buying of beaten-down technology shares produced a stunning rebound from the stock market's recent sharp sell-off. The Nasdaq composite index surged to its second-biggest one-day gain ever in percentage terms. Impressive earnings at several tech companies and a day of relative calm in the Middle East stirred hope that the market's relentless six-week sell-off had finally run its course.
July 14, 1999 |
A combination of Internet hype and hopes for the Chinese market triggered a threefold increase in shares of China.com Corp. on its first day of trading Tuesday in New York, giving it an instant market value of $1.38 billion. The Hong Kong-based company's memorable name and its standing as the only listed Internet gateway to the world's fastest-growing market were all that investors needed to hear, analysts said: Shares soared from $20 to close at $67.11 on Nasdaq.
December 4, 2000 |
It's beginning to look a lot like Internet companies, from giant Yahoo Inc. to legal site Loislaw.com Inc., will find more lumps of coal than revenue this holiday season. A few months ago, analysts and executives expected revenue would pick up in the fourth quarter as more companies paid for online holiday advertising. Instead, demand is dwindling as more "dot-coms" close every week--by one count at least 130 this year through mid-November--and other companies aren't making up the shortfall.
August 13, 2003 |
A federal judge in New York refused Tuesday to revive lawsuits by investors who accused Merrill Lynch & Co. and its former top technology analyst, Henry Blodget, of issuing biased stock research. U.S. District Judge Milton Pollack stuck by his decision of last month in which he dismissed the complaints as he barred amended claims against Blodget and Merrill, the world's largest securities firm.
May 18, 2007 |
In a nod to the growing importance of Internet advertising, WPP Group, the world's second-biggest advertising company, said Thursday that it was buying online ad agency 24/7 Real Media Inc. The $649-million deal underscores how major agencies are scrambling to take the lead in offering online services. Advertisers are expected to raise their online ad spending by 18% this year, faster than any other ad medium, according to market research firm Outsell Inc.
July 2, 2003 |
Merrill Lynch & Co., Goldman Sachs Group Inc., Morgan Stanley and Credit Suisse Group won dismissal Monday of lawsuits accusing them of misleading investors with biased research tailored to win investment banking business. The rulings by two federal judges in New York were the first to address the banks' liability for research since 10 of the largest Wall Street firms agreed in April to pay $1.4 billion to settle similar charges by regulators. U.S.
August 5, 2004 |
Is the party over -- again? Internet stocks took a big hit Wednesday, accelerating a six-week decline spurred by disappointing earnings, tepid forecasts and growing concern over the price of Google Inc.'s upcoming initial public offering. The slump spread wide: Second-quarter profit shortfalls from online advertising and e-commerce sites such as InterActiveCorp and ValueClick Inc. dragged down Internet icons like EBay Inc., Yahoo Inc. and Amazon.com Inc.
July 3, 2003 |
A federal judge threw out another investor lawsuit against Merrill Lynch & Co. on Wednesday, dealing a further blow to individuals who are suing Wall Street in hopes of recouping bear-market losses. U.S. District Judge Milton Pollack dismissed a class-action lawsuit that alleged conflicts of interest at a Merrill technology fund, saying there was so much media coverage of such problems on Wall Street that investors should have known about them.
May 19, 2007 |
Microsoft Corp. said Friday that it would buy online advertising firm AQuantive Inc. for about $6 billion in cash, paying a hefty premium to try to catch up with major ad deals by competitors over the last six weeks. In its largest acquisition ever, Microsoft snapped up the last of the big, independently owned concerns that focus on delivering targeted Web ads. The deal escalated the battle for online advertisers and audiences as Microsoft, Google Inc.