Newsback
REGISTER NOW and be a part of the Community!
news   forums   blogs   reviews   marketplace   marketplace
news  
news section  
Business
By Sam Vaknin Author of "Malignant Self Love -...
Science
When researchers found 18,000-year-old bones of a...
Travel
By Sam Vaknin Author of "Malignant Self Love -...
Business
Vista's new security features will make for such...
Fashion & Style
Models refused to pose, photographers stilled...

newsletter
Subscribe to the Newsback Newsletter and get site news as well as exclusive and special features!
Enter your Email:






Google Hits the Wall (Street)
by Webnik (Posted 03-01-2006 02:37 AM) [View Discussion | Join Discussion | Rate Thread ]

It’s a case of “dumb if you don’t, dumb if you do.” Google yet again succumbs to the colorful world of Wall Street.

Largely criticized by the suits for having the gonads to forgo traditional investment banking methods for its IPO, then telling the Street it won’t give earnings guidance, the company suffered what is arguably its biggest blow when it failed to reach analysts’ expectations for earnings that was otherwise stellar.

Taking a cue from the wake of that little debacle, its CFO George Reyes this time tried to rectify the past by stating that growth may slow. The result, as expected, is a stock plunge, not too long after its stock was already inching back towards the $400 mark, taking a nosedive of 13 percent in Tuesday morning trading, before settling down to $362.62, down 7 percent for the day

Largely expected to reach its destined $500-per-share mark before the earnings disappointment weeks back, Reyes acknowledged that "Most of what is left is just organic growth. Clearly our growth rates are slowing. We see that each and every quarter," finally adding that “We are going to have to find new ways to monetize the business."

Which makes you wonder if this is just a red-herring to get everyone’s expectations way down on an already very leery and skeptical public, and priming it for a blowout earnings announcement soon.

More from CNNMoney


Show Printable Version Email this Page

Reply
 
Thread Tools Search this Thread Display Modes
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Making Sense of Google Webnik Technology 0 03-10-2006 02:34 AM
Google censors itself for China Apex Friday Technology 0 01-26-2006 03:26 AM
Google Launches Database of Everything Webnik Technology 0 11-17-2005 03:04 AM
Microsoft, Google: AOL Loves Me. AOL Loves Me Not. AOL Loves Me. AOL Loves Me Not... Webnik Business 0 10-14-2005 06:52 AM


Powered by: vBulletin Version 3.0.9
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
Copyright © 2005 - 2007 Newsback.com

Loan | Loans | Mortgages | Remortgages | Personal Car Finance| Internet Marketing