Friday, July 22, 2005

Sell-side reaction to Google earnings (3) Derek Brown, Pacific Growth Equities (GOOG)

Derek Brown, Internet analyst for Pacific Growth Equities, analyses Google's (ticker: GOOG) Q2 earnings results; key extracts:

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Posted by David Jackson on July 22, 2005 at 04:13 PM in Earnings results, Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Sell-side reaction to Google earnings (2) David Edwards, AmTech Research (GOOG)

David Edwards, Internet analyst for American Technology Research, analyses Google's (ticker: GOOG) Q2 earnings results; key extracts:

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Posted by David Jackson on July 22, 2005 at 04:10 PM in Earnings results, Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Sell-side reaction to Google earnings (1) Mark Mahaney, Citigroup (GOOG)

Mark Mahaney, Internet analyst for Citigoup, analyses Google's (ticker: GOOG) Q2 earnings results; key extracts:

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Posted by David Jackson on July 22, 2005 at 04:01 PM in Earnings results, Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Microsoft discusses its Internet business (2Q05 MSFT conf call)

There was very little on Microsoft's (ticker: MSFT) Q2 call about its Internet businesses. Here's the key extract, in the words of  VP Finance and Chief Accounting Officer Scott Di Valerio:

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Posted by David Jackson on July 22, 2005 at 11:50 AM in Conf call quotes, Sub-sector: Infrastructure, Sub-sector: Search, ticker: MSFT | Permalink | Comments (0) | TrackBack (0)

Yes, Google does give guidance (2Q05 GOOG conf call)

Google's (ticker: GOOG) conference calls are typically frustrating. Analysts ask sycophantic questions and the management team answers with platitudes and generalities totally devoid of useful information. But Google's Q2 call last night was the exception. There was a clear message about guidance, even though the company officially doesn't give guidance. Here it is, in the words of Google CFO George Reyes:

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Posted by David Jackson on July 22, 2005 at 11:12 AM in Conf call quotes, Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Thursday, July 21, 2005

Three take-aways from Google's earnings results (2Q05 GOOG earnings)

Three key take-away's from Google's (GOOG) earnings results:

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Posted by David Jackson on July 21, 2005 at 05:36 PM in Earnings results, Sub-sector: Search, ticker: GOOG, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Google beats, but not by enough to stop stock falling (2Q05 GOOG earnings results)

Google (ticker: GOOG) beat consensus estimates for both revenue and EPS, with revenue growing by 98% year over year. But expectations were high, and the stock fell by 7% in late trading. Here are the key points from Google's quarter, with comparisons to consensus estimates:

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Posted by David Jackson on July 21, 2005 at 05:09 PM in Earnings results, Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Wednesday, July 20, 2005

Yahoo implications for Google? (YHOO, GOOG)

Two sell-side analysts discussed the implications for Google (ticker: GOOG) of Yahoo's (ticker: YHOO) Q2 earnings results. Extracts:

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Posted by David Jackson on July 20, 2005 at 04:16 PM in Earnings results, Sub-sector: Search, ticker: GOOG, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Yahoo!'s Q2 silence on China (YHOO 2Q05 conf call)

Yahoo (ticker: YHOO) CFO Sue Decker hardly mentioned China on the company's Q2 conference call. Odd, since China recently surpassed 100 million Internet users, is expected to reach 124 million by the end of 2005, and will ultimately surpass that of the United States (which currently has 200 million users). Yahoo's failure to mention China is in stark contrast to other companies which have highlighted the growth opportunity in China, including Motorola, Intel, Kraft, Avon, Mattel, Eaton, Hasbro, General Electric, First Data, Marriott and YUM! Brands. Here's Ms. Decker did say about China, followed by an interpretation of Yahoo's "Q2 China silence":

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Posted by David Jackson on July 20, 2005 at 03:29 PM in Earnings results, Sub-sector: Content, Sub-sector: Search, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Sell-side reaction to Yahoo earnings (3) Derek Brown, Pacific Growth Equities (YHOO)

Derek Brown, Internet analyst for Pacific Growth Equities, analyses Yahoo's (ticker: YHOO) Q2 earnings results; key extracts:

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Posted by David Jackson on July 20, 2005 at 02:59 PM in Earnings results, Sub-sector: Content, Sub-sector: Search, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Sell-side reaction to Yahoo earnings (2) David Edwards, AmTech Research (YHOO)

David Edwards, Internet analyst for American Technology Research, analyses Yahoo's (ticker: YHOO) Q2 earnings results; key extracts:

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Posted by David Jackson on July 20, 2005 at 02:50 PM in Earnings results, Sub-sector: Content, Sub-sector: Search, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Sell-side reaction to Yahoo earnings (1) Mark Mahaney, Citigroup (YHOO)

Mark Mahaney, Internet analyst for Citigoup, analyses Yahoo's (ticker: YHOO) Q2 earnings results; key extracts:

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Posted by David Jackson on July 20, 2005 at 02:36 PM in Earnings results, Sub-sector: Content, Sub-sector: Search, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Yahoo discusses contextual advertising (2Q05 conf call quotes; YHOO, GOOG)

It's long been suspected that Yahoo (ticker: YHOO) is preparing a service to place contextually relevant ads on publishers' web sites; namely, a competitor to Google's (ticker: GOOG) AdSense For Publishers. Here are comments from Yahoo CEO Terry Semel on his Q2 conference call about search and contextual ads:

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Posted by David Jackson on July 20, 2005 at 12:01 AM in Conf call quotes, Sub-sector: Advertising, Sub-sector: Search, ticker: GOOG, ticker: YHOO | Permalink | Comments (3) | TrackBack (0)

Tuesday, July 19, 2005

Yahoo stock down 10% after missing consensus revenue estimate (YHOO)

Yahoo (ticker: YHOO) reported Q2 earnings results after close. EPS was in-line with the consensus, but revenue of $875 million missed the consensus estimate of $882 million and Q2 revenue guidance was also below the current consensus estimate. The stock fell about 10% in late trading. Details from the quarter and guidance:

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Posted by David Jackson on July 19, 2005 at 09:34 PM in Earnings results, Sub-sector: Content, Sub-sector: Search, ticker: YHOO | Permalink | Comments (1) | TrackBack (0)

Google continues to gain market share (GOOG, MSFT, YHOO)

Citigroup Internet analyst Mark Mahaney sent a note to clients analysing the comScore June numbers. Short extract:

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Posted by David Jackson on July 19, 2005 at 12:01 AM in Sub-sector: Search, ticker: GOOG, ticker: MSFT, ticker: YHOO | Permalink | Comments (1) | TrackBack (0)

Wednesday, July 13, 2005

Will Google acquire Chinese search company Baidu? (GOOG, BIDU)

From The China Stock Blog: Recent reports suggest that after completing its initial public offering Baidu (proposed ticker: BIDU) will be acquired by Google (ticker: GOOG). What does Baidu have to say about this? Here is a discussion of takeover provisions from Baidu's F-1:

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Posted by David Jackson on July 13, 2005 at 12:02 PM in Sub-sector: Search, ticker: BIDU, ticker: GOOG | Permalink | Comments (1) | TrackBack (0)

Analysis of China search company Baidu's latest results (BIDU)

From The China Stock Blog: IPO-bound Baidu.com (proposed ticker: BIDU) filed an F-1 with the SEC yesterday. While the F-1 is missing many details of the IPO, here is a look at what we know about the offering and an analysis of the quarter ended March 31, 2005:

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Posted by David Jackson on July 13, 2005 at 12:01 PM in Sub-sector: Search, ticker: BIDU | Permalink | Comments (0) | TrackBack (0)

China Internet search provider Baidu files for IPO (BIDU)

From the China Stock Blog: Chinese language Internet search provider Baidu.com (proposed ticker: BIDU) filed an F-1 with the SEC yesterday in preparation for an upcoming IPO on the Nasdaq. Here are a number of key points about the company and its services:

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Posted by David Jackson on July 13, 2005 at 11:59 AM in Sub-sector: Search, ticker: BIDU | Permalink | Comments (0) | TrackBack (0)

Netflix offers ads, Answers.com more popular than Wikipedia? (NFLX, GRU)

Quick news/analysis:

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Posted by David Jackson on July 13, 2005 at 12:29 AM in Sub-sector: Advertising, Sub-sector: Search, ticker: FSTC, ticker: GOOG, ticker: GRU, ticker: MSFT, ticker: NFLX, ticker: TWX, ticker: YHOO | Permalink | Comments (2) | TrackBack (0)

Tuesday, July 12, 2005

Jeff Mathews on Google (GOOG)

Hedge fund manager Jeff Mathews is always interesting, controversial and thought-provoking. Here's what he says about Google (ticker: GOOG) in his most recent article:

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Posted by David Jackson on July 12, 2005 at 12:17 AM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (2) | TrackBack (0)

Friday, July 08, 2005

China Internet search developments (GOOG, YHOO, SINA, Baidu)

From The China Stock Blog:

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Posted by David Jackson on July 8, 2005 at 12:09 PM in Sub-sector: China, Sub-sector: Search, ticker: GOOG, ticker: SINA, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Thursday, July 07, 2005

Google still gaining share, Yahoo losing? (GOOG, YHOO)

Citigroup analyst Mark Mahaney sent his clients an analysis of comScore's May traffic data. Google (ticker: GOOG), he says, is gaining market share. Excerpts:

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Posted by David Jackson on July 7, 2005 at 10:09 AM in Sub-sector: Search, ticker: GOOG, ticker: YHOO | Permalink | Comments (1) | TrackBack (0)

Tuesday, July 05, 2005

Google insider selling (GOOG)

Michelle Leder, author of Footnoted.org, has a keen eye for noteworthy company filings. On Friday she wrote:

Today's the perfect day for a company to sneak something into the SEC late this afternoon: a summer holiday weekend and by the time the market reopens on Tuesday, nobody will remember whatever it was that was filed late on Friday. What will be? Your guess is as good as mine, since it's way too early to predict right now. But I can pretty much guarantee that something interesting will turn up in the Friday night dump.

Sure enough, today she reported that:

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Posted by David Jackson on July 5, 2005 at 10:27 PM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (2)

Friday, July 01, 2005

New Sina search engine plus a milestone for Google in China (SINA, SOHU, GOOG)

From Ezra Marbach at The China Stock Blog:  As I reported last week, Sina (ticker: SINA) has launched Internet search engine "iAsk". The announcement is more evidence of an increasingly competitive Chinese search environment and follows the introduction of Sohu's (ticker: SOHU) search engine Sogou earlier this year. More on Sina and other search developments:

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Posted by David Jackson on July 1, 2005 at 12:31 PM in Sub-sector: China, Sub-sector: Search, ticker: GOOG, ticker: SINA, ticker: SOHU | Permalink | Comments (0) | TrackBack (0)

Friday, June 24, 2005

Comparison shopping companies exploiting Adware? (EBAY, SHOP)

Jeff Molander of ReveNews says that comparison shopping sites are partnering with Adware operators, with the result that e-tailers are either paying for traffic that would have been free or are losing sales. "Traffic is "stolen" from your URL", he says, "... and then... if you want that user back.. you pay". Quick comment below.

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Posted by David Jackson on June 24, 2005 at 02:38 PM in Sub-sector: Search, ticker: EBAY, ticker: SHOP | Permalink | Comments (2) | TrackBack (0)

Wednesday, June 22, 2005

SINA launches Internet search engine

From Ezra Marbach at The China Stock Blog:

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Posted by David Jackson on June 22, 2005 at 10:10 AM in Sub-sector: Search, ticker: SINA | Permalink | Comments (0) | TrackBack (0)

eBay discusses comparison shopping

eBay (ticker: EBAY) CFO Rajiv Dutta presented at the Deutsche Bank Securities Media Conference on June 8th. Here's what he had to say about eBay's acquisition of Shopping.com (ticker: SHOP):

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Posted by David Jackson on June 22, 2005 at 12:01 AM in Conf call quotes, Sub-sector: E-tailing, Sub-sector: Search, ticker: EBAY | Permalink | Comments (0) | TrackBack (0)

Tuesday, June 21, 2005

Hussman takes another shot at Google (GOOG)

John Hussman, manager of the Hussman Strategic Growth Fund (ticker: HSGFX), took another shot at Google (ticker: GOOG) in his latest weekly letter. Extracts:

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Posted by David Jackson on June 21, 2005 at 12:36 AM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (3) | TrackBack (2)

Friday, June 17, 2005

GuruNet's Answers.com versus Wikipedia and widgets (GRU)

In his keynote address to the Apple Worldwide Developers Conference, CEO Steve Jobs highlighted the availability of new "widgets", small programs that provide easy-to-use functionality on the desktop.

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Posted by David Jackson on June 17, 2005 at 12:26 PM in Sub-sector: Content, Sub-sector: Search, ticker: GRU | Permalink | Comments (4) | TrackBack (0)

Thursday, June 16, 2005

Google's positives (GOOG)

Citigroup analyst Mark Mahaney re-initiated coverage report of Google on June 8th. Here's the section of his report titled "GOOG Investment Positives":

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Posted by David Jackson on June 16, 2005 at 12:03 AM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Three risks to Yahoo's stock (YHOO)

Analyst Mark Mahaney just moved from American Technology Research to Citigroup Smith Barney, and re-initiated coverage on the Internet stocks he follows. His June 8th report on Yahoo (ticker: YHOO) outlines three risks to Yahoo's stock, and makes interesting reading:

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Posted by David Jackson on June 16, 2005 at 12:02 AM in Sub-sector: Advertising, Sub-sector: Search, ticker: YHOO | Permalink | Comments (0) | TrackBack (1)

Wednesday, June 15, 2005

Google's valuation (GOOG)

John Hussman's argument that Google (ticker: GOOG) is worth no more than $40 a share will no doubt stimulate further debate about the stock's valuation. Here, for the sake of contrast, is the valuation section of Citigroup analyst Mark Mahaney's June 8th report on Google, in which he justifies a Buy rating and $360 price target:

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Posted by David Jackson on June 15, 2005 at 05:01 PM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Hussman: Google worth less than $40 per share (GOOG)

John Hussman's Hussman Strategic Growth Fund (HSGFX, a mutual fund that uses options to hedge long positons) has the best risk-adjusted performance of any mutual fund.  That's why his weekly letter is worth reading. In the most recent, he argues that Google (ticker: GOOG) is worth no more than $40 per share. The relevant extract:

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Posted by David Jackson on June 15, 2005 at 10:24 AM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (7) | TrackBack (2)

Friday, June 10, 2005

Ask Jeeves on "convenience search" (ASKJ, IACI)

Ask Jeeves CEO Steve Berkowitz made an interesting distinction on his April 27th Q1 conference call between "destination search", where a user goes to a search site such as Google.com or Ask.com, and "convenience search", where a user searches from a search box embedded in a page already being viewed. Those comments look far more interesting in light of Ben Edelman's recent work exposing Ask Jeeves' illigitimate dissemination of toolbars. Extracts:

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Posted by David Jackson on June 10, 2005 at 01:29 AM in Conf call quotes, Sub-sector: Search, ticker: ASKJ, ticker: IACI | Permalink | Comments (0) | TrackBack (0)

Wednesday, June 08, 2005

E.W Scripps discusses comparison shopping (SSP, SHOP)

After E.W Scripps' (ticker: SSP) announcement of its intention to purchase comparison shopping company Shopzilla (formerly Bizrate), CEO Ken Lowe and CFO Joe NeCastro hosted a conference call with analysts. Interesting reading, given eBay's (ticker: EBAY) prior announcement to acquire competitor Shopping.com (ticker: SHOP). Extracts:

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Posted by David Jackson on June 8, 2005 at 05:00 PM in Conf call quotes, Sub-sector: E-tailing, Sub-sector: Search, ticker: EBAY, ticker: SHOP | Permalink | Comments (0) | TrackBack (2)

Chairman and Chief Product Officer of Shopzilla on Shopzilla vs Shopping.com (SHOP)

Farhad Mohit is the Chairman and Chief Product Officer of Shopzilla, a comparison shopping search service that competes with Shopping.com (ticker: SHOP). Here are his thoughts in response to Scripps-Shopzilla deal shows eBay-SHOP deal too cheap? (published yesterday morning on the The Internet Stock Blog) which argued that eBay (ticker: EBAY) may be forced to raise its bid for SHOP:

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Posted by David Jackson on June 8, 2005 at 12:02 AM in Sub-sector: E-tailing, Sub-sector: Search, ticker: EBAY, ticker: SHOP | Permalink | Comments (2) | TrackBack (3)

What's up with GOOG?

So asks American Technology Research analyst David Edwards about Google (ticker: GOOG) in a note to clients. His answer:

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Posted by David Jackson on June 8, 2005 at 12:01 AM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (1) | TrackBack (0)

Tuesday, June 07, 2005

Will Google end its relationship with Ask Jeeves? (GOOG, ASKJ, IACI, INSP)

Adware/Spyware expert Ben Edelman thinks that could happen. First, he outlines Google's (ticker: GOOG) role in providing ads that are used by toolbars:

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Posted by David Jackson on June 7, 2005 at 05:49 PM in Sub-sector: Search, ticker: ASKJ, ticker: GOOG, ticker: INSP, ticker: YHOO | Permalink | Comments (2) | TrackBack (0)

Scripps-Shopzilla deal shows eBay-SHOP deal too cheap?

Media company E.W. Scripps yesterday announced that it would purchase privately-held Shopzilla for $525 million in cash. Meanwhile, Shopping.com's (ticker: SHOP) stock yesterday traded above the $21 level at which eBay (ticker: EBAY) said it would acquire the company. Are the two related? Analysis and quick comments:

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Posted by David Jackson on June 7, 2005 at 08:51 AM in Sub-sector: E-tailing, Sub-sector: Search, ticker: CNET, ticker: EBAY, ticker: GOOG, ticker: IACI, ticker: MSFT, ticker: NYT, ticker: OSTK, ticker: SHOP, ticker: TWX, ticker: YHOO | Permalink | Comments (2) | TrackBack (0)

Friday, June 03, 2005

GuruNet no longer a short? (GRU)

Josh Silverman, who's been bearish on GuruNet (ticker: GRU), now argues that the stock is no longer a short. He writes:

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Posted by David Jackson on June 3, 2005 at 12:01 AM in Sub-sector: Search, ticker: GRU | Permalink | Comments (3) | TrackBack (0)

Thursday, June 02, 2005

Is Amazon the loser from the EBAY-SHOP deal? (AMZN, EBAY, SHOP)

Yes. Here's why:

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Posted by David Jackson on June 2, 2005 at 03:13 PM in Sub-sector: E-tailing, Sub-sector: Search, ticker: AMZN, ticker: EBAY, ticker: SHOP | Permalink | Comments (2) | TrackBack (1)

Shopping.com acquisiton a sign of eBay weakness? (SHOP, EBAY)

So says Pacific Growth Equities analyst Derek Brown in a note to clients today:

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Posted by David Jackson on June 2, 2005 at 02:35 PM in Sub-sector: E-tailing, Sub-sector: Search, ticker: EBAY, ticker: SHOP | Permalink | Comments (1) | TrackBack (0)

S&P downgrades Google to Hold (GOOG)

S&P analyst Scott Kessler on Google (ticker: GOOG):

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Posted by David Jackson on June 2, 2005 at 01:19 PM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Wednesday, May 25, 2005

Shopping.com (SHOP) CEO on comparison shopping for hotel rooms and mortgages

Shopping.com (ticker: SHOP) outgoing CEO Dan Ciporin made the following comments about hotel room and mortgage shopping search in an interview with Comparison Engines editor Brian Smith:

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Posted by David Jackson on May 25, 2005 at 12:01 AM in Sub-sector: E-finance, Sub-sector: Search, Sub-sector: Travel, ticker: SHOP | Permalink | Comments (0) | TrackBack (0)

Tuesday, May 24, 2005

Infospace (INSP) on metasearch and personalized search

Infospace (ticker: INSP) released strong Q1 earnings and disappointing guidance in late April, but used its April 26th conference call to discuss a number of topics. Here's CEO James Voelker on metasearch and personalized/filtered search:

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Posted by David Jackson on May 24, 2005 at 01:18 AM in Sub-sector: Search, ticker: INSP | Permalink | Comments (0) | TrackBack (0)

Monday, May 23, 2005

Dave Edwards on Yahoo and Google (YHOO, GOOG)

Mark Mahaney has moved from American Technology Research to Citigroup Smith Barney as the new Internet Analyst; his place is taken by Dave Edwards. Here's an extract from Dave's first note to clients about Yahoo (ticker: YHOO) and Google (ticker: GOOG):

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Posted by David Jackson on May 23, 2005 at 01:51 PM in Sub-sector: Advertising, Sub-sector: Search, ticker: GOOG, ticker: YHOO | Permalink | Comments (1) | TrackBack (0)

Yahoo readies publisher tools to compete with Google (YHOO, GOOG)

Yahoo (ticker: YHOO) sent an email 20 minutes ago to web publishers interested in its upcoming contextual advertising products. (They'll compete with Google's AdSense for Publishers.) Here's the full text of the email followed by a quick comment:

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Posted by David Jackson on May 23, 2005 at 01:16 PM in Sub-sector: Advertising, Sub-sector: Search, ticker: GOOG, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

How real is Microsoft's browser threat to Google and Yahoo? (MSFT, GOOG, YHOO)

A looming threat to Google's search business is Microsoft's next release of its Internet Explorer browser. Why? Because Microsoft could build search into the browser in a convenient and compelling way, just as it's built into Firefox and Safari. In light of that, Joseph Nocera's NY Times article adds an important factor to the mix:

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Posted by David Jackson on May 23, 2005 at 12:11 AM in Sub-sector: Search, ticker: GOOG, ticker: MSFT, ticker: YHOO | Permalink | Comments (1) | TrackBack (0)

Friday, May 20, 2005

Google takes aim at My Yahoo (GOOG, YHOO)

Google announced a beta version of a personalized home page. This is an important development because it dispels any final doubt that Google, Yahoo and MSN are truly on a collision course. Here's Google's announcement, three reactions to it and some quick analysis:

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Posted by David Jackson on May 20, 2005 at 05:13 PM in Sub-sector: Content, Sub-sector: Search, ticker: CNET, ticker: GOOG, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Thursday, May 19, 2005

Search news/analysis in brief (AMZN, GOOG, SHOP, YHOO)

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Posted by David Jackson on May 19, 2005 at 12:06 AM in Sub-sector: Search, ticker: AMZN, ticker: GOOG, ticker: SHOP, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Tuesday, May 17, 2005

Josh Silverman on GuruNet (GRU)

Josh Silverman outlined his perceptive thoughts on GuruNet's (ticker: GRU) Q1 earnings results in a comment. Here they are in a main post for the benefit of those who read The Internet Stock Blog in RSS form:

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Posted by David Jackson on May 17, 2005 at 02:52 PM in Sub-sector: Search, ticker: GRU | Permalink | Comments (3) | TrackBack (0)

Wednesday, May 11, 2005

Sell-side reaction to FindWhat's (FWHT) Q1 earnings and guidance

From Pacific Growth Research analyst Derek Brown's May 9th note to clients reacting to FindWhat's (ticker: FWHT) Q1 earnings:

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Posted by David Jackson on May 11, 2005 at 01:33 PM in Earnings results, Sub-sector: Search, ticker: FWHT | Permalink | Comments (0) | TrackBack (0)

Internet news/analysis quick links

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Posted by David Jackson on May 11, 2005 at 12:01 AM in Sub-sector: Search, ticker: ET, ticker: GOOG, ticker: GRU, ticker: MCHX, ticker: MSFT, ticker: OSTK, ticker: SHOP | Permalink | Comments (2) | TrackBack (0)

Friday, May 06, 2005

SINA on Q2, Internet search and Shanda (SNDA) (1Q05 conf call quotes)

Sina.com (ticker: SINA) reported Q1 2005 earnings results yesterday. Here are comments from CEO Wang Yan, Co-COO Hurst Lin, and CFO and Co-COO Charles Chao, on SINA's earnings results conference call:

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Posted by David Jackson on May 6, 2005 at 12:41 PM in Conf call quotes, Sub-sector: China, Sub-sector: Search, ticker: SINA, ticker: SNDA | Permalink | Comments (0) | TrackBack (0)

SINA misses on decline in SMS and MMS revs, higher operating expenses; offers weak Q2 guidance; stock whacked (1Q05 earnings)

Sina.com (ticker: SINA) reported Q1 2005 earnings results yesterday. Here are comments from CEO Wang Yan, Co-COO Hurst Lin, and CFO and Co-COO Charles Chao from the company's conference call:

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Posted by David Jackson on May 6, 2005 at 12:37 PM in Earnings results, Sub-sector: China, Sub-sector: Search, ticker: SINA | Permalink | Comments (0) | TrackBack (0)

ValueClick discusses comparison shopping (1Q05 conf call quotes)

ValueClick (ticker: VCLK) CEO Jim Zarley discussed PriceRunner, the European comparison shopping business his company acquired. Standard & Poor's Equity Research analyst Scott Kessler asked Mr Zarley how PriceRunner would be differentiated from the competition once it enters the U.S. market. Here's Mr Zarley's response, and a couple of quick questions:

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Posted by David Jackson on May 6, 2005 at 12:30 PM in Conf call quotes, Sub-sector: Advertising, Sub-sector: Search, ticker: SHOP, ticker: VCLK | Permalink | Comments (1) | TrackBack (2)

Wednesday, May 04, 2005

Implications of Google's (GOOG) move to the Chinese mainland

From The China Stock Blog (permission granted):

Here are details of major developments for Google (ticker: GOOG) in China, and consequences for Internet search competitor Baidu.com:

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Posted by David Jackson on May 4, 2005 at 01:18 PM in Sub-sector: China, Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Friday, April 29, 2005

Sell-side reaction to Ask Jeeves' quarter

From American Technology Research analyst Mark Mahaney's note to clients reacting to Ask Jeeves' (ticker: ASKJ) Q1 earnings:

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Posted by David Jackson on April 29, 2005 at 12:02 AM in Earnings results, Sub-sector: Search, ticker: ASKJ, ticker: IACI | Permalink | Comments (0) | TrackBack (0)

Sell-side reaction to SHOP's results

From American Technology Research analyst Mark Mahaney's note to clients about Shopping.com's (ticker: SHOP) results:

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Posted by David Jackson on April 29, 2005 at 12:01 AM in Earnings results, Sub-sector: Search, ticker: SHOP | Permalink | Comments (0) | TrackBack (0)

Thursday, April 28, 2005

Shopping.com down 10% after disappointing guidance (1Q05 earnings results)

Shopping.com (ticker: SHOP) beat consensus revenue and (adjusted) EPS estimates for Q1, but disappointed the Street with below-consensus guidance for Q2 and the full year. Details and comments:

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Posted by David Jackson on April 28, 2005 at 01:28 PM in Earnings results, Sub-sector: Search, ticker: SHOP | Permalink | Comments (1) | TrackBack (2)

Wednesday, April 27, 2005

SOHU beats on strong advertising revs; wireless revs show some promise (1Q05 earnings results)

From The China Stock Blog (permission granted):

Sohu (ticker: SOHU), a Chinese portal and e-commerce company, beat Q1 2005 EPS estimates by $0.01. Details:

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Posted by David Jackson on April 27, 2005 at 01:33 PM in Earnings results, Sub-sector: China, Sub-sector: Content, Sub-sector: Search, ticker: SOHU | Permalink | Comments (0) | TrackBack (0)

Infospace comments on disappointing Q2 outlook (1Q05 conf call quotes)

Infospace (ticker: INSP) CEO Jim Voelker outlined his company's disappointing Q2 guidance on its Q1 conference call. Here's what he said:

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Posted by David Jackson on April 27, 2005 at 12:58 PM in Conf call quotes, Sub-sector: Search, Sub-sector: Services, ticker: INSP | Permalink | Comments (0) | TrackBack (0)

Overstock switching auction marketing from TV to paid search

Overstock.com (ticker: OSTK) CEO Patrick Byrne discusses his company's auction business on his blog. eBay (ticker: EBAY) investors should read his comments about commitment to the auction business; and Google (ticker: GOOG) investors should read his remarks about switching marketing dollars from TV ads to paid search.

Here's the text (republished in full with the understanding that Mr Byrne would like his views made known):

Continue reading...

Posted by David Jackson on April 27, 2005 at 12:08 AM in Sub-sector: Advertising, Sub-sector: E-tailing, Sub-sector: Search, ticker: EBAY, ticker: GOOG, ticker: OSTK | Permalink | Comments (0) | TrackBack (0)

Tuesday, April 26, 2005

Amazon on paid search and comparison shopping (1Q05 conf call quotes)

Amazon.com (ticker: AMZN) CFO Tom Szkutak and CEO Jeff Bezos were asked on their Q1 conference call about Amazon's reliance on advertising for traffic and the price impact of comparison shopping engines. Here are their answers:

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Posted by David Jackson on April 26, 2005 at 11:08 PM in Conf call quotes, Sub-sector: E-tailing, Sub-sector: Search, ticker: AMZN | Permalink | Comments (0) | TrackBack (0)

GOOG ducks a question on its conf call (1Q05 conf call quotes)

Google (ticker: GOOG) co-founder and President of Products Larry Page was asked by CIBC analyst Mike Gallant on GOOG's Q1 conference call when it expects its new product initiatives (such as Google News, Froogle and Gmail) to generate signficant amounts of revenue. Mr Page's reply:

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Posted by David Jackson on April 26, 2005 at 12:31 AM in Conf call quotes, Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Monday, April 25, 2005

Sell-side reaction to GOOG's earnings

From American Technology Research analyst Mark Mahaney's note to clients:

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Posted by David Jackson on April 25, 2005 at 12:01 AM in Earnings results, Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Friday, April 22, 2005

Three take-aways from GOOG's blow-out quarter (1Q05 earnings)

Google (ticker: GOOG) blew away consensus revenue and earnings estimates, driving the stock up almost 10% in late trading. Details, plus three key take-aways:

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Posted by David Jackson on April 22, 2005 at 12:01 AM in Earnings results, Sub-sector: Search, ticker: GOOG, ticker: YHOO | Permalink | Comments (2) | TrackBack (3)

Wednesday, April 20, 2005

Sell-side reaction to YHOO 1Q05 results

Here are the reactions of two sell-side analysts to Yahoo's (ticker: YHOO) Q1 earnings results. Extracts from notes sent to clients this morning:

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Posted by David Jackson on April 20, 2005 at 11:38 AM in Earnings results, Sub-sector: Content, Sub-sector: Search, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

YHOO demolishes the "declining sponsored search price" myth (quotes from 1Q05 conf call)

Yahoo (ticker: YHOO) CFO Sue Decker discussed her company's search business on its Q1 earnings conference call. She specifically addressed recent assertions from some sell-side analysts that sponsored search prices are in decline:

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Posted by David Jackson on April 20, 2005 at 11:28 AM in Conf call quotes, Sub-sector: Search, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Saturday, April 16, 2005

FindProfit picks "4 must-own" search stocks

FindProfit.com (subscription required) published a report on the Internet search space that names "4 must-own stocks for riding the online search boom". Here's an extract from the report naming them:

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Posted by David Jackson on April 16, 2005 at 12:01 AM in Sub-sector: Search, ticker: FASRF, ticker: FWHT, ticker: INSP, ticker: MAMA | Permalink | Comments (0) | TrackBack (0)

Monday, April 11, 2005

Internet news/analysis in brief

Continue reading...

Posted by David Jackson on April 11, 2005 at 12:01 AM in Sub-sector: Search, ticker: AMZN, ticker: ASKJ, ticker: DCLK, ticker: GOOG, ticker: NILE, ticker: ODMO, ticker: OSTK, ticker: PRVD, ticker: RCOM, ticker: SRVY, ticker: TCOW, ticker: TWX, ticker: TZOO, ticker: VRSN, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Friday, April 08, 2005

Seven implications of GOOG Q&A, and the threat to YHOO, ASKJ and GRU

Google (ticker: GOOG) announced that it now provides facts (in addition to links) in response to a search phrased as a question. For example, a search for "When did Bob Marley die?" returns the answer "11 May 1981" as the top result. This is a significant development for Google, Yahoo (ticker: YHOO), Microsoft (ticker: MSFT), Ask Jeeves (ticker: ASKJ) and its acquirer IAC (ticker: IACI), and GuruNet (ticker: GRU). Here's the Google announcement in full, followed by analysis and stock impact:

Continue reading...

Posted by David Jackson on April 8, 2005 at 04:09 PM in Sub-sector: Content, Sub-sector: Search, ticker: ASKJ, ticker: GOOG, ticker: GRU, ticker: IACI, ticker: MSFT, ticker: TWX, ticker: YHOO | Permalink | Comments (7) | TrackBack (1)

AmTech Research downgrades Ask Jeeves

American Technology analyst Mark Mahaney downgraded Ask Jeeves (ticker: ASKJ), soon to be acquired by IAC (ticker: IACI). Here's an extract from his note to clients:

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Posted by David Jackson on April 8, 2005 at 12:01 AM in Sub-sector: Search, ticker: ASKJ, ticker: IACI | Permalink | Comments (0) | TrackBack (0)

Friday, April 01, 2005

Google takes on Yahoo Finance

Google (ticker: GOOG) quietly announced that it now offers financial data in response to a search for a stock ticker. A Google search for "AMTD", for example, now returns a real-time and delayed stock quote, a chart, market cap, price high/low, and trading volume and average volume. Market data are also available from Google SMS, by sending a text message to 46645 ('GOOGL') with the ticker. This is further evidence of two critical investing trends in the search and content markets:

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Posted by David Jackson on April 1, 2005 at 01:09 PM in Sub-sector: Content, Sub-sector: Search, ticker: GOOG, ticker: YHOO | Permalink | Comments (2) | TrackBack (0)

Monday, March 28, 2005

Business Week on secondary search plays

Following IAC's (ticker: IACI) announcement that it had agreed to acquire Ask Jeeves (ticker: ASKJ) last week, Business Week provides a list of other potential takeover targets:

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Posted by David Jackson on March 28, 2005 at 07:01 AM in Sub-sector: Search, ticker: ASKJ, ticker: FWHT, ticker: IACI, ticker: INSP, ticker: SHOP, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Thursday, March 24, 2005

Quotes from AmTech Research's SHOP "buy" initiation

American Technology Research analyst Mark Mahaney initiated coverage on Shopping.com (ticker: SHOP) with a "buy" rating and a $24 price target. Key extracts from his note:

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Posted by David Jackson on March 24, 2005 at 04:34 PM in Sub-sector: Search, ticker: SHOP | Permalink | Comments (0) | TrackBack (0)

Take-aways from a visit to GuruNet

After a visit to GuruNet and a conversation with its CEO Bob Rosenschein, American Technology Research analyst Mark Mahaney sent the following to his clients outlining two implications for Google (ticker: GOOG), Yahoo! (ticker: YHOO) and MSN (Microsoft - ticker: MSFT):

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Posted by David Jackson on March 24, 2005 at 06:19 AM in Sub-sector: Search, ticker: GOOG, ticker: GRU, ticker: MSFT, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Tuesday, March 22, 2005

Is the GRU takeover press release a fake?

A "press release" - in a mixture of languages and riddled with grammatical errors - claims that GuruNet (ticker: GRU), the owner of the Answers.com search site, will be subject to a hostile takeover. Here's the text:

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Posted by David Jackson on March 22, 2005 at 11:05 AM in Sub-sector: Search, ticker: GRU | Permalink | Comments (0) | TrackBack (0)

IAC - "Incoherent Acquisitions Continue"?

IAC's stock (ticker: IACI) reacted poorly to the Ask Jeeves acquisition. After closing at $22.29 on Friday, the stock fell to $21.63 by the end of trading yesterday. Why? Because Barry Diller's justifications for the acquisition are unconvincing.

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Posted by David Jackson on March 22, 2005 at 09:12 AM in Sub-sector: E-tailing, Sub-sector: Search, Sub-sector: Travel, ticker: ASKJ, ticker: IACI | Permalink | Comments (5) | TrackBack (0)

Monday, March 21, 2005

IAC on the synergies of acquiring ASKJ (conf call quotes)

Barry Diller outlines the benefits to IAC (ticker: IACI) of the Ask Jeeves (ticker: ASKJ) acquisition announced today:

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Posted by David Jackson on March 21, 2005 at 03:13 PM in Conf call quotes, Sub-sector: Search, ticker: ASKJ, ticker: IACI | Permalink | Comments (0) | TrackBack (0)

Thursday, March 17, 2005

GuruNet on partnerships, growth and competition (quotes from the 4Q04 conf call)

GuruNet (ticker: GRU) CEO Bob Rosenschein used his company's Q4 earnings conference call to describe Answers.com's growth potential, partnerships and competitive position. The  GURU conference call transcript isn't available elsewhere, so here are the prepared remarks in full (minus the standard legal disclaimers):

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Posted by David Jackson on March 17, 2005 at 04:48 PM in Conf call quotes, Sub-sector: Search, ticker: GRU | Permalink | Comments (0) | TrackBack (1)

Wednesday, March 16, 2005

Piper upgrades SHOP: "Valuation very attractive"

Piper Jaffray analyst Safa Rashtchy upgraded Shopping.com (ticker: SHOP) today. In a note to clients, he wrote:

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Posted by David Jackson on March 16, 2005 at 10:19 AM in Sub-sector: Search, ticker: SHOP | Permalink | Comments (0) | TrackBack (0)

Tuesday, March 15, 2005

Shopping.com (SHOP) to expand into hotels, Asia

Shopping.com (ticker: SHOP) CEO Dan Ciporin gave a press conference in Israel (where the company has its R&D operation) which was written up by The Jerusalem Post. According to the article, he discussed Shopping.com's expansion plans, and added some new, and potentially significant details:

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Posted by David Jackson on March 15, 2005 at 09:10 AM in Sub-sector: Search, Sub-sector: Travel, ticker: IACI, ticker: PCLN, ticker: SHOP, ticker: TWX, ticker: TZOO | Permalink | Comments (1) | TrackBack (0)

Thursday, March 10, 2005

China Internet search developments

Points of interest about Sohu (ticker: SOHU), Baidu.com, Zhongsou.com, Yahoo! China (ticker: YHOO), and Google (ticker: GOOG):

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Posted by David Jackson on March 10, 2005 at 09:10 AM in Sub-sector: China, Sub-sector: Search, ticker: GOOG, ticker: SOHU, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

GOOG on Google versus Yahoo (quotes from an investor conf)

Google CEO Eric Schmidt faced a series of lame and sycophantic questions from analyst Alexia Quadrani at the Bear Stearns Media Conference. (The big sell-side firms still don't understand how to run conferences effectively.) As a result, most of his comments were a rehash of old material. But here's what he said about the difference between Google and Yahoo!:

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Posted by David Jackson on March 10, 2005 at 08:21 AM in Sub-sector: Content, Sub-sector: Search, ticker: GOOG, ticker: YHOO | Permalink | Comments (0) | TrackBack (1)

Tuesday, March 08, 2005

24/7 Real Media - TFSM - on search (4Q04 conf call quotes)

24/7 Real Media (ticker: TFSM) discussed its acquisition of Decide Interactive, a provider of  bid management tools for keyword ads placed on search results, on its Q4 results conference call. Here are the comments, including excerpts from the Q&A:

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Posted by David Jackson on March 8, 2005 at 02:39 PM in Sub-sector: Advertising, Sub-sector: Search, ticker: TFSM | Permalink | Comments (0) | TrackBack (0)

GRU rockets 25% on news of... what?

GuruNet (ticker: GRU), provider of the Answers.com search service, issued a press release today announcing that it has become a Google search affiliate. Details and a comment:

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Posted by David Jackson on March 8, 2005 at 02:00 PM in Sub-sector: Search, ticker: GRU | Permalink | Comments (3) | TrackBack (2)

Search developments in brief

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Posted by David Jackson on March 8, 2005 at 07:52 AM in Sub-sector: Search, ticker: GOOG, ticker: SHOP, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Monday, March 07, 2005

Interchange - INCX - on mobile local search (quotes from the 4Q04 conf call)

Interchange Corporation (ticker: INCX) CEO Heath Clarke discussed his company's strategy for the local mobile search market on his Q4 results conference call. Key quotes:

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Posted by David Jackson on March 7, 2005 at 04:01 PM in Conf call quotes, Sub-sector: Search, ticker: INCX | Permalink | Comments (0) | TrackBack (0)

Friday, March 04, 2005

Business Week's odd take on GOOG and YHOO

Business Week's Ben Elgin asks whether Google (ticker: GOOG) is "a $50 Billion One-Trick Pony". Here are the five key points from the article followed by some comments that question its conclusion:

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Posted by David Jackson on March 4, 2005 at 02:39 PM in Sub-sector: Advertising, Sub-sector: Search, ticker: GOOG, ticker: YHOO | Permalink | Comments (2) | TrackBack (0)

Under the hood of Google Movies - implications for GOOG and other stocks

Within hours of Google's announcement, its new movie search service received rave reviews from a lot of people. But investors and those wishing to understand the implications for Google and the other Internet companies need to dig deeper:

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Posted by David Jackson on March 4, 2005 at 12:43 PM in Sector Themes/Outlook, Sub-sector: Content, Sub-sector: Search, ticker: AMZN, ticker: GOOG, ticker: HOLL, ticker: MSFT, ticker: NFLX, ticker: NYT, ticker: YHOO | Permalink | Comments (0) | TrackBack (2)

Wednesday, March 02, 2005

GuruNet (GRU) traffic rises, but questions remain

GuruNet (ticker: GRU), owner of Answers.com, announced that traffic to its web site has topped a million queries per day. Here's the full press release, followed by some comments:

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Posted by David Jackson on March 2, 2005 at 08:05 AM in Sub-sector: Search, ticker: GRU | Permalink | Comments (2) | TrackBack (0)

How big a problem is click-fraud?

According to The Times of India, "A growing number of housewives, college graduates, and even working professionals across metropolitan cities are rushing to click paid Internet ads to make $100 to $200... per month". Investors in search and advertising stocks had better understand the scope of the click-fraud problem. Some thoughts:

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Posted by David Jackson on March 2, 2005 at 07:20 AM in Sub-sector: Advertising, Sub-sector: Search, ticker: ASKJ, ticker: FWHT, ticker: GOOG, ticker: LOOK, ticker: MAMA, ticker: YHOO | Permalink | Comments (2) | TrackBack (0)

Saturday, February 26, 2005

Sell-side attacks, defends prospects for paid search

Late last week, following FindWhat's results and conference call (which included an unusual attack on Google and Yahoo!), RBC Capital Markets published a note claiming that the paid search market was weakening. The evidence? Falling prices for keyword ads. In response, Mark Mahaney of American Technology Research wrote the following to his clients:

Continue reading...

Posted by David Jackson on February 26, 2005 at 08:15 PM in Sub-sector: Search, ticker: ASKJ, ticker: GOOG, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Thursday, February 24, 2005

FindWhat.com (FWHT) attacks Google (GOOG) and Overture (YHOO) on conference call (quotes from the 4Q04 conf call)

FindWhat (ticker: FWHT) CEO Craig Pisaris-Henderson made a controversial comment on his fourth quarter earnings results conference call about Google (ticker: GOOG) and Overture (owned by Yahoo!, ticker: YHOO). Here it is:

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Posted by David Jackson on February 24, 2005 at 12:03 AM in Conf call quotes, Sub-sector: Search, ticker: FWHT, ticker: GOOG, ticker: YHOO | Permalink | Comments (0) | TrackBack (1)

FindWhat.com (FWHT) finds what investors don't like (4Q04 earnings)

Search firm FindWhat.com (ticker: FWHT) announced Q4 results that matched the consensus EPS estimate but missed the consensus revenue estimate. FWHT also provided guidance below consensus revenue and earnings estimates for 2005. The stock got swiped by 23% in subsequent trading. Details and comments:

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Posted by David Jackson on February 24, 2005 at 12:02 AM in Earnings results, Sub-sector: Search, ticker: FWHT | Permalink | Comments (0) | TrackBack (2)

Friday, February 18, 2005

ValueClick (VCLK) on comparison shopping (quotes from the 4Q04 conf call)

ValueClick (ticker: VCLK) CEO JIm Zarley discusses his company's purchase of European comparison shopping engine PriceRunner and his plans for its expansion in 2005:

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Posted by David Jackson on February 18, 2005 at 10:50 AM in Conf call quotes, Sub-sector: Search, ticker: SHOP, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Tuesday, February 15, 2005

What did Marchex (MCHX) really purchase?

Marchex (ticker: MCHX) announced the completion of its secondary stock offering and the closure of its acquisition of Name Development Ltd. for $164.2 million, comprising $155.2 million in cash and $9 million in stock. But what is Name Development Ltd? Marchex's press release is somewhat unclear:

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Posted by David Jackson on February 15, 2005 at 07:00 AM in Sub-sector: Advertising, Sub-sector: Content, Sub-sector: Search, ticker: MCHX | Permalink | Comments (3) | TrackBack (1)

Monday, February 14, 2005

Google (GOOG) confounds the amateur stock pundits

Paul Kedrosky at Infectious Greed nails Google's stock action today:

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Posted by David Jackson on February 14, 2005 at 10:21 PM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (1) | TrackBack (0)

New stats on Firefox market share good for Google, bad for Microsoft, less clear for Yahoo!

Janco Associates released its First Quarter 2005 Browser Market Share Study showing that Firefox now has 4.5% market share and Microsoft Internet Explorer's market share has now fallen to 84.9%. But the situation for IE might be worse than that.

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Posted by David Jackson on February 14, 2005 at 09:13 AM in Sub-sector: Search, ticker: GOOG, ticker: MSFT, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Sunday, February 13, 2005

7 reasons Google will rule the world

Paul Allen, managing partner of VC firm Infobase Ventures, reacts to Google's Q4 financial results by listing the reasons why he thinks Google is fundamentally superior to its competitors. Here they are in summary, plus a quick comment:

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Posted by David Jackson on February 13, 2005 at 12:56 PM in Sub-sector: Advertising, Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (1)

Friday, February 11, 2005

Why is Google a domain registrar, and what's the impact on Register.com (RCOM)?

Google recently became a domain name registrar, increasing the threat of increased competition to Register.com (ticker: RCOM). But now Google seems to be saying that it might not get into the domain name registration business:

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Posted by David Jackson on February 11, 2005 at 09:51 AM in Sub-sector: Search, Sub-sector: Services, ticker: GOOG, ticker: RCOM | Permalink | Comments (1) | TrackBack (0)

Thursday, February 10, 2005

Five-point summary of Google's analyst day

A five bullet-point summary of Google's analyst day from InsideGoogle and GoogleBlogscoped:

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Posted by David Jackson on February 10, 2005 at 11:11 AM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

A sell-side analyst's thoughts on Google's analyst day

American Technology Research analyst Mark Mahaney attended Google's analyst day yesterday. His reaction:

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Posted by David Jackson on February 10, 2005 at 10:17 AM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (1) | TrackBack (0)

How much did Ask Jeeves pay for Bloglines?

Susan Mernit has three views of how much Ask Jeeves paid for Bloglines:

The new guessing game--what did the Bloglines acquisition cost?
Gary Stein at Jupiter says his "mole" thought $35-40 million.
Someone told me the asking price was rumored to be $40 million.
Someone else says he thought it went for $20-$25 million.

And Jason Calacanis says it's not worth anything.

Posted by David Jackson on February 10, 2005 at 09:35 AM in Sub-sector: Search, ticker: ASKJ | Permalink | Comments (0) | TrackBack (0)

Did Ask Jeeves ask enough questions?

Only a day after Ask Jeeves announced its acquisition of Bloglines, CNET releases a preview of NewsBurst, its own web-based RSS reader. According to Steve Rubel, the launch of NewsBurst follows the launch of similar branded RSS readers by The Guardian and LA Times last week.

There's a simple reason content companies are trying to get into the RSS reader market:

Continue reading...

Posted by David Jackson on February 10, 2005 at 12:01 AM in Sub-sector: Content, Sub-sector: Search, ticker: ASKJ, ticker: CNET, ticker: HOLL | Permalink | Comments (1) | TrackBack (2)

Wednesday, February 09, 2005

Google maps: search companies and portals on collision course

Google released a beta version of Google maps. Surprise, surprise - it's terrific. As with Gmail, Google just seems to do things better. But instead of focusing on the individual application, investors need to step back and see the big picture: search companies and portals/content comanies are on a collison course. Why, and what are the stock implications?

Continue reading...

Posted by David Jackson on February 9, 2005 at 04:25 PM in Sector Themes/Outlook, Sub-sector: Content, Sub-sector: Search, ticker: GOOG, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Tuesday, February 08, 2005

Forrester likes Ask Jeeves/Bloglines combination

So Forrester's Charlene Li likes Ask Jeeves' acquisition of Bloglines. Her reasons (excerpts in her words):

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Posted by David Jackson on February 8, 2005 at 09:26 AM in Sub-sector: Search, ticker: ASKJ | Permalink | Comments (0) | TrackBack (0)

Forbes review of Answers.com likely to further boost GRU stock

Forbes published a rave review today of Answers.com. It said:

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Posted by David Jackson on February 8, 2005 at 09:09 AM in Sub-sector: Search, ticker: GRU | Permalink | Comments (0) | TrackBack (0)

Google, Yahoo, AOL, Ask Jeeves bid for About.com

The NY Times reports (free registration required) that Primedia's About.com unit is for sale, and final bids are due Tuesday. About.com was purchased by Primedia for $690 million in 2000. Here's a list of the (reported) bidders, and three quick comments:

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Posted by David Jackson on February 8, 2005 at 08:46 AM in Sub-sector: Content, Sub-sector: Search, ticker: ASKJ, ticker: GOOG, ticker: TWX, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Ask Jeeves confirms acquisition of Bloglines

Ask Jeeves confirmed late yesterday that it would purchase Bloglines, following unauthorized reports (including this discussion from The Internet Stock Blog) earlier in the day. Here's the full text of the Ask Jeeves press release:

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Posted by David Jackson on February 8, 2005 at 08:25 AM in Sub-sector: Search, ticker: ASKJ | Permalink | Comments (0) | TrackBack (0)

Ask Jeeves (ASKJ) on search and advertising (quotes from the conf call)

Here's what Ask Jeeves CEO Steve Berkowits said on ASKJ's Q4 earnings call about the search market, the online advertising market, and his company's strategy:

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Posted by David Jackson on February 8, 2005 at 07:27 AM in Conf call quotes, Sub-sector: Advertising, Sub-sector: Search, ticker: ASKJ | Permalink | Comments (0) | TrackBack (0)

Monday, February 07, 2005

Ah! So this is why Shopping.com is entering the financial services vertical.

Bankrate made the following point on its Q4 earnings call:

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Posted by David Jackson on February 7, 2005 at 03:48 PM in Sub-sector: Advertising, Sub-sector: Search, ticker: GOOG, ticker: RATE, ticker: SHOP, ticker: YHOO | Permalink | Comments (1) | TrackBack (0)

Safa on SOHU

Piper Jaffray analyst Safa Rashtchy believes that the worst is over for Sohu.com (ticker: SOHU):

Continue reading...

Posted by David Jackson on February 7, 2005 at 03:03 PM in Sub-sector: Advertising, Sub-sector: Content, Sub-sector: Search, ticker: SOHU | Permalink | Comments (0) | TrackBack (0)

SOHU meets estimates on weak wireless revenue, lowers guidance

Sohu.com (ticker: SOHU), China's leading online media, communications, commerce and mobile value-added services company, met Q4 consensus EPS estimates of $.17. Here are the highlights:

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Posted by David Jackson on February 7, 2005 at 03:01 PM in Sub-sector: Advertising, Sub-sector: Content, Sub-sector: Search, ticker: SOHU | Permalink | Comments (0) | TrackBack (0)

Time Warner (TWX) holds 5 million shares of Google

In its 8-K report, Time Warner revealed that it holds over 5 million shares of Google stock valued at $980 million. 

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Posted by David Jackson on February 7, 2005 at 02:15 PM in Sub-sector: Search, ticker: GOOG, ticker: TWX | Permalink | Comments (0) | TrackBack (0)

Provide Commerce (PRVD) on online marketing (quotes from the conf call)

Provide Commerce (ticker: PRVD) has some interesting things to say about online marketing on its conference call:

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Posted by David Jackson on February 7, 2005 at 01:06 PM in Conf call quotes, Sub-sector: Advertising, Sub-sector: E-tailing, Sub-sector: Search, ticker: GOOG, ticker: PRVD, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Sunday, February 06, 2005

Ask Jeeves to acquire Bloglines?

Ask Jeeves, according to reports (1, 2, 3, 4, 5, others), will soon announce the acquisition of Bloglines. But would this acquisition make sense? Not necessarily. Here are two viewpoints:

Continue reading...

Posted by David Jackson on February 6, 2005 at 03:48 PM in Sub-sector: Search, ticker: ASKJ | Permalink | Comments (0) | TrackBack (1)

Saturday, February 05, 2005

Ask Jeeves (ASKJ) just isn't Google

Search stock Ask Jeeves fell over 5% after the company reported results that met consensus estimates and maintained consensus guidance. Here's a quick recap of the results, and then reactions from two sell-side analysts, one of which explains why the stock fell:

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Posted by David Jackson on February 5, 2005 at 11:57 PM in Sub-sector: Search, ticker: ASKJ | Permalink | Comments (0) | TrackBack (0)

Friday, February 04, 2005

Analysts react to Shopping.com results

Here's what the sell-side had to say about SHOP's results:

Continue reading...

Posted by David Jackson on February 4, 2005 at 04:12 PM in Sub-sector: E-tailing, Sub-sector: Search, ticker: SHOP | Permalink | Comments (0) | TrackBack (0)

Shopping.com stock pummeled on cost of international expansion (4Q04 earnings)

Shopping.com beat Q1 adjusted EPS estimates, but 2005 revenue growth guidance was modest and the company outlined plans to increase spending on international expansion. Details and a few comments:

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Posted by David Jackson on February 4, 2005 at 03:43 PM in Earnings results, Sub-sector: E-tailing, Sub-sector: Search, ticker: SHOP | Permalink | Comments (0) | TrackBack (0)

Wednesday, February 02, 2005

AmTech Research says buy GOOG. Buy. BUYYYY!

Here's what American Technology Research analyst Mark Mahaney has to say about Google this morning, after last night's Q4 earnings release:

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Posted by David Jackson on February 2, 2005 at 08:23 AM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (2) | TrackBack (0)

Google generates dramatic profit growth, but eats into partners' income

Google's stock rose by almost 10% to $210 in late trading after the company reported Q4 results that beat analysts' estimates. Here are the key numbers from Google's results and some brief comments about the sources of Google's income:

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Posted by David Jackson on February 2, 2005 at 01:49 AM in Earnings results, Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Tuesday, February 01, 2005

Google (GOOG) on search and contextual advertising (quotes from the conf call)

Google talked about search traffic growth, its contextual advertising business, local search, desktop search and traffic acquisition costs on its Q4 earnings conference call tonight. Here are some key quotes:

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Posted by David Jackson on February 1, 2005 at 07:20 PM in Conf call quotes, Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Forrester says MSN will take share from GOOG

Forrester's Charlene Liu predicts that MSN will take market share from Google. The reason:

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Posted by David Jackson on February 1, 2005 at 05:48 PM in Sub-sector: Search, ticker: GOOG, ticker: MSFT | Permalink | Comments (0) | TrackBack (0)

Microsoft (MSFT) on MSN (quotes from the conf call)

Microsoft (ticker: MSFT) commented on MSN and its new search service in its conference call. Here are the relevant quotes:

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Posted by David Jackson on February 1, 2005 at 07:04 AM in Conf call quotes, Sub-sector: Search, ticker: MSFT | Permalink | Comments (0) | TrackBack (0)

As search engines add proprietary content, what are the implications?

Recent announcements have strong implications for the search business:

  • Microsoft announced the full release of its search service today.
  • Google announced that it would offer search of movie scripts and is planning to offer search of books stocked by major libraries.
  • Amazon.com announced that its A9 search engine will offer street-level photographs as part of its local search.
  • Yahoo! announced that in future it will provide its own financial data instead of relying on outside vendors, and will syndicate that data to other web sites.

Here's a quick recap of Amazon's announcement, then a brief discussion of what's going on in the search market and the implications for investors.

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Posted by David Jackson on February 1, 2005 at 07:03 AM in Sector Themes/Outlook, Sub-sector: Search, ticker: AMZN, ticker: GOOG, ticker: TWX, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Monday, January 31, 2005

Digital River discusses web analytics and online marketing

Digital River provides e-commerce platforms and marketing for software companies. After its strong Q4 earnings report, the company's conference call focused on revenue growth, international expansion, financial leverage and the threat to its anti-virus customers from Microsoft's entry into the security software market.

Digital River is moving deeper into providing Web analytics and online marketing for its customers. Of all the topics it discussed, DRIV's comments about analytics and online marketing had the most relevance to the entire Internet sector. Here they are:

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Posted by David Jackson on January 31, 2005 at 07:10 AM in Sector Themes/Outlook, Sub-sector: Advertising, Sub-sector: Search, Sub-sector: Services, ticker: DRIV, ticker: WSSI | Permalink | Comments (0) | TrackBack (0)

LookSmart on what went wrong (quotes from the conf call)

LookSmart pre-announced that it would miss Q4 consensus estimates a couple of weeks ago. Here's the additional explanation provided by CEO David Hills on LookSmart's conference call:

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Posted by David Jackson on January 31, 2005 at 07:00 AM in Conf call quotes, Sub-sector: Search, ticker: LOOK | Permalink | Comments (0) | TrackBack (0)

Thursday, January 27, 2005

Walt likes Answers.com so investors like GRU

Walter Mossberg, the "king-maker" technology editor of the Wall Street Journal known for his focus on usefulness and usability, gave a glowing review to Answers.com today. He wrote:

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Posted by David Jackson on January 27, 2005 at 06:04 PM in Sub-sector: Search, ticker: GRU | Permalink | Comments (0) | TrackBack (0)

Monday, January 24, 2005

Search and browser markets intertwined? Here's the proof.

Understanding the relationship between the pay-per-click advertising market (particularly paid search) and the browser market is critical for investors. Four issues illustrate the intersection of the two markets:

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Posted by David Jackson on January 24, 2005 at 07:01 PM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (1) | TrackBack (0)

Would search companies suffer from clearer results?

Amazing - the Pew Internet and American Life Project finds that:

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Posted by David Jackson on January 24, 2005 at 08:01 AM in Sub-sector: Search, ticker: YHOO | Permalink | Comments (0) | TrackBack (1)

Thursday, January 20, 2005

Click-fraud and the search engine stocks

Click-fraud is becoming increasingly problematic for the search companies. Look at this comment from Google's CFO at an investor conference:

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Posted by David Jackson on January 20, 2005 at 11:06 PM in Sector Themes/Outlook, Sub-sector: Search, ticker: ASKJ, ticker: FWHT, ticker: GOOG, ticker: YHOO | Permalink | Comments (1) | TrackBack (1)

Chinese search engine market grows in 2004

Asia Pulse, citing a recent report, claims that China's search engine market reached 940 million yuan ($113.6 million) in 2004. The market is expected to grow at an annual rate of 60-70% and reach 2.6 billion yuan by 2006.

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Posted by David Jackson on January 20, 2005 at 08:56 AM in Sector Themes/Outlook, Sub-sector: China, Sub-sector: Search, ticker: GOOG, ticker: NTES, ticker: SOHU, ticker: YHOO | Permalink | Comments (1) | TrackBack (1)

Friday, January 07, 2005

Technology Review highlights fragility of Google's competitive position

The January 2005 edition of the Technology Review contains a detailed article by Charles Ferguson called What's Next For Google? Ferguson argues that Google's competitive position is tenuous. In his words:

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Posted by David Jackson on January 7, 2005 at 12:10 AM in Sub-sector: Search, ticker: GOOG, ticker: MSFT, ticker: YHOO | Permalink | Comments (3) | TrackBack (0)

Tuesday, January 04, 2005

GuruNet launches Answers.com

GuruNet (ticker: GRU) announced the release of Answers.com, a Web site that provides information and answers in response to searches, rather than links to other Web sites.

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Posted by David Jackson on January 4, 2005 at 12:31 AM in Sub-sector: Search, ticker: GRU | Permalink | Comments (2) | TrackBack (1)

Thursday, December 30, 2004

Five Internet danger signs to watch for in 2005

The next few weeks will likely see a flurry of predictions for 2005, to the point where you'll be sick of reading them. So instead, I'm providing something which I hope will be more useful for investors in Internet stocks and managers of Internet companies: a checklist of danger signals for Internet investors to look out for next year. For each danger signal, I've specified which stocks will subsequently be at risk:

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Posted by David Jackson on December 30, 2004 at 11:03 PM in Sector Themes/Outlook, Sub-sector: Content, Sub-sector: E-finance, Sub-sector: E-tailing, Sub-sector: Search, Sub-sector: Travel, ticker: AMZN, ticker: ASKJ, ticker: BFLY, ticker: CNET, ticker: CTRP, ticker: EBAY, ticker: GOOG, ticker: HOLL, ticker: IACI, ticker: MSFT, ticker: NFLX, ticker: NILE, ticker: OSTK, ticker: PCLN, ticker: RATE, ticker: SHOP, ticker: TSCM, ticker: TZOO, ticker: YHOO | Permalink | Comments (5) | TrackBack (4)

Wednesday, December 29, 2004

Home Depot entry to online appliance sales should help search and comparison shopping firms

Reuters reports that Home Depot has begun selling appliances online, with free shipping and a guarantee that prices will be the same as in its stores, with no regional variation. Home Depot has been slow to offer online sales of appliances. According to the Reuters story, Sears began offering appliances online in 1999 and Lowe's in 2000. Home Depot is now playing catch-up aggressively: its home page now features appliances, with the tag line "1,000s of Appliances - Now Available Online".

Of note to Internet investors:

  1. The purchase of high-priced appliances online will boost online retail numbers, but will likely come at the expense of purchases from physical stores.
  2. This is incrementally positive for search companies Google and Yahoo!, as demand for appliance-related key words (and probably their price) will rise as more companies enter the online market.
  3. The time and effort of comparison shopping makes greatest sense for large purchases. The expansion of the online appliance market is therefore incrementally positive for the comparison shopping businesses run by Google, Yahoo! and Shopping.com, as well as private companies Nextag, PriceGrabber and Shopzilla.

Full disclosure: at the time of writing I'm long SHOP.

Posted by David Jackson on December 29, 2004 at 02:18 PM in Sector Themes/Outlook, Sub-sector: Search, ticker: GOOG, ticker: SHOP, ticker: YHOO | Permalink | Comments (1) | TrackBack (0)

Saturday, December 25, 2004

Three lessons from the Google Zeitgeist

Google's press center just published its Zeitgeist 2004, a summary of the most popular searches in 2004. This is important reading, despite the fact that's it's backward-looking. Here are three key points from the Google data:

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Posted by David Jackson on December 25, 2004 at 11:44 PM in Sector Themes/Outlook, Sub-sector: Search, ticker: AMZN, ticker: ASKJ, ticker: EBAY, ticker: ECST, ticker: GOOG, ticker: HOLL, ticker: LOOK, ticker: OSTK, ticker: YHOO | Permalink | Comments (0) | TrackBack (1)

Monday, September 27, 2004

Google's browser

Will Google be forced to re-ignite the browser wars? argued that Google will lose it's search business overnight when Microsoft builds more effective search into Internet Explorer.  Unless Google can persuade enough users to adopt non-Microsoft browsers.

Well, looks like Google is working on just that.  The New York Post reported that Google has hired a browser team, and a slashdot posting reveals that Google has registered the domain Gbrowser.com.

Posted by David Jackson on September 27, 2004 at 02:54 PM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)

Wednesday, September 15, 2004

Will Google be forced to re-ignite the browser wars?

Summary: The future of Google's search business depends on users adopting non-Microsoft web browsers.

Sell-side research analysts and buy-side hedge fund and mutual fund managers seem to agree on one thing about Google: its search business is great, while its contextual advertising business is worrying.  Why?  Because search has much higher gross margins.  Google pays web site owners (like me) a large cut every time someone clicks on a Google ad.  But on its own search site, Google pockets all the profit.  And as Google's contextual advertising business has grown from zero, it has dragged down Google's aggregate gross margin.  Search good; contextual advertising bad.

I think the opposite is true.  In fact, it's Google's search business that is far riskier from a portfolio manager's perspective.

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Posted by David Jackson on September 15, 2004 at 02:55 PM in Sub-sector: Search, ticker: GOOG | Permalink | Comments (0) | TrackBack (0)