Replies to post #266842 on Zeev's Turnips Patch-No Politics (ZEEV)

[onesevenus]

Zeev, do you expect market to behave nicer tomorrow?

[marketmaven]

POS's Getting Overdue B*Slap- By Bambi !! LOL, Nip/Tuck

Net stocks sink after Yahoo Q2 report
Plus: Merrill Lynch talks down eBay shares
By Bambi Francisco, CBS.MarketWatch.com Jul 8, 2004
SAN FRANCISCO (CBS.MW) -- Just not good enough. Investors ran away from leading Internet names Thursday after Net bellwether Yahoo quarterly results, unveiled after the closing bell Wednesday, only matched expectations. "One of our stock-picking mantras has been that in-line quarters don't cut it for Internet stocks," wrote Mark Mahaney, an analyst at American Technology Research, referring to Yahoo's second-quarter results, released late Wednesday. Yahoo (YHOO) tumbled 9 percent to $29.69. The stock, which was quickly slammed in after-hours trading Wednesday following the quarterly report, had traded as low as $28 Thursday morning.

With most Net shares trading at vulnerable levels, Yahoo's disappointing news was enough to tip the entire group -- from search engines to online media companies to e-tailers. Amazon.com (AMZN) lost 3 percent to $49.24, and eBay (EBAY) gave up 4 percent to $83.22. InterActiveCorp (IACI) traded in the red but managed to stay above $30. Ask Jeeves (ASKJ) gave up 8 percent to $31.55; InfoSpace (INSP) lost 9 percent; Blue Nile (NILE) declined 3 percent to $35. Overstock (OSTK) declined 3 percent.

Merrill Lynch took the opportunity to slam eBay. In his note to clients, analyst Gregory Smith wrote that eBay is "off to a slow start in the third quarter with global listings in the first week coming in lower than the average listings per week in the second quarter." EBay is slated to report second-quarter results July 21. "Similar to Yahoo, we do not see eBay beating second-quarter expectations by a wide margin," Smith wrote. The eBay note echoed a Wednesday note from Prudential Equity Group, in which the analyst downgraded the group based on valuation.

(EBAY) Reit 2-9 -24 June 04 At this stage, we believe that eBay is tracking ahead of our full quarter estimate. Average quarter-to-date listings in Q2 have increased 5.5% over average listings in Q1, up from 5.1% last week. We remain very comfortable with our 2Q04 revenue estimate of $771 million (+75%) and our EPS estimate of $0.28 (+51%).