Yet Another H____________ O_____________ O_____________
Street Life, Wednesday, March 7, 2001, 08:49 PM
Koogle Doesn't Yahoo!
By Julie Creswell
YAHOO! DOWN AND KOOGLE (SORT-OF) OUT.... Were they going to miss earnings?
Making a big acquisition? Or was someone out? It looks like the correct
answer for the mystery surrounding the Yahoo! stock halt today was "A" and
"C." Yahoo FINALLY got around to announcing (geez, guys, what's with the
all-day wait??) that it was going to miss first-quarter numbers--a lot.
Furthermore, CEO Tim Koogle is stepping down. (He's still going to remain as
chairman.) Yahoo's stock is down about 90% (man already!!) from its 52-week
high of $205 5/8. And it was falling fast in after-market trading: YHOO was
down another 10% at $18 11/16. Online advertising, one of Yahoo's biggest
revenue sources, is plunging. Company said Q1 revs look like they're going to
come in around $170 million. That's waaaay off the $233 million analysts were
looking for.
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