Tuesday, May 24, 2005

The Spitzer Internet Danger List - an update (AQNT, GOOG)

An earlier post on The Internet Stock Blog provided a list of stocks at risk from Eliot Spitzer's attack on the Adware/Spyware industry. One group with potential exposure: providers of paid search and affiliate ads, including FindWhat (ticker: FWHT), Yahoo/Overture (ticker: YHOO), CGI Holding (ticker: THK), ValueClick (ticker: VCLK), 24/7 Media (ticker: TFSM), Think Partership (ticker: THK) and LinkShare (partially owned by Internet Capital Group, ticker: ICGE).

Now research by Spyware legal expert Ben Edelman has expanded the list to cover other publicly-traded companies. They are:

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Posted by David Jackson on May 24, 2005 at 01:49 AM in Sub-sector: Advertising, ticker: AQNT, ticker: DCLK, ticker: FSTC, ticker: FWHT, ticker: GOOG, ticker: ICGE, ticker: TFSM, ticker: THK, ticker: VCLK | Permalink | Comments (0) | TrackBack (3)

Internet news/analysis in brief (ASKJ, CLCT, FWHT, GOOG, LOOK, NTRT, OSTK, TWX, VRSN)

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Posted by David Jackson on May 24, 2005 at 12:26 AM in ticker: ASKJ, ticker: FWHT, ticker: GOOG, ticker: NTRT, ticker: OSTK, ticker: TWX, ticker: VRSN, ticker: YHOO | Permalink | Comments (0) | 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)

Tuesday, May 03, 2005

Bambi Francisco on Internet stocks' Adware exposure

Bambi Francisco, who covers Internet stocks for MarketWatch, published a column this morning about Internet companies' exposure to potential Adware/Spyware litigation. It's surprising that the issue has hit the mainstream financial literature so quickly - most sell-side analysts haven't yet acknowledged the risk to stocks. Perhaps this says a lot about the quality of Ms. Francisco's coverage. Key quotes from her article:

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Posted by David Jackson on May 3, 2005 at 11:07 AM in Sub-sector: Advertising, Sub-sector: Content, ticker: ASKJ, ticker: CNET, ticker: FWHT, ticker: MIX, ticker: NFLX, ticker: VCLK, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Friday, April 29, 2005

The Internet Danger List: stocks at risk from Spitzer's attack on Adware

The attack on the illegal disemination of spyware and adware may not end with Eliot Spitzer's suit against Intermix Media (ticker: MIX). This report outlines why and provides a tentative list of other Internet stocks at risk. Stocks mentioned: ASKJ, CD, CNET, FLWS, FWHT, IACI, ICGE, INPC, SPRK, TFSM, THK, TSG, VLCK, and YHOO.

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Posted by David Jackson on April 29, 2005 at 03:14 AM in Sector Themes/Outlook, Sub-sector: Advertising, ticker: ASKJ, ticker: CD, ticker: CNET, ticker: FLWS, ticker: FWHT, ticker: IACI, ticker: ICGE, ticker: INPC, ticker: SPRK, ticker: TFSM, ticker: THK, ticker: TSG, ticker: VCLK, ticker: YHOO | Permalink | Comments (5) | TrackBack (10)

Tuesday, April 26, 2005

DoubleClick take-out and lackluster earnings a warning for other Internet ad stocks? (1Q05 earnings)

DoubleClick (ticker: DCLK) agreed to be acquired by private equity firm Hellman & Friedman LLC for $8.50 per share in cash, following lackluster Q1 results. Though DCLK is no longer "in play" for most investors (its now an arbitrage bet on the deal's closure), its Q1 results and purchase provide important data points and lessons for Internet investors. Details and comments:

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Posted by David Jackson on April 26, 2005 at 11:35 AM in Earnings results, Sub-sector: Advertising, ticker: APTM, ticker: AQNT, ticker: DCLK, ticker: FSTC, ticker: FWHT, ticker: LOOK, ticker: TFSM, ticker: VCLK | Permalink | Comments (2) | 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, 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)

Friday, March 18, 2005

Is InsWeb - INSW - a value trap?

Online insurace provider InsWeb (ticker: INSW) announced a marketing deal with AOL on Monday, and its stock spiked from $2.90 at open to an intra-day high of $3.43. Now the stock is back to below $3, yet the company has $3.66 per share on its balance sheet. Does that make it good value?

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Posted by David Jackson on March 18, 2005 at 08:34 AM in Sub-sector: E-finance, ticker: FWHT, ticker: INSW, ticker: IVIL, ticker: KNOT, ticker: MAMA | Permalink | Comments (0) | TrackBack (0)

Wednesday, March 02, 2005

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)

Thursday, February 24, 2005

FindWhat.com (FWHT) on the pay-for-performance advertising market (quotes from the 4Q04 conf call)

Here's what FindWhat (ticker: FWHT) CEO Craig Pisaris-Henderson said on his fourth quarter earnings results conference call about the future of the pay-for-performance advertising market:

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Posted by David Jackson on February 24, 2005 at 12:04 AM in Conf call quotes, Sub-sector: Advertising, Sub-sector: Content, ticker: FWHT | Permalink | Comments (0) | TrackBack (2)

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)

Sunday, January 23, 2005

Search briefs

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Posted by David Jackson on January 23, 2005 at 08:45 PM in ticker: ASKJ, ticker: FWHT, ticker: GOOG, ticker: LOOK, ticker: TWX, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

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)

Wednesday, January 05, 2005

IBM to enter the online ad market?

Google, Microsoft and Yahoo all recently filed new search-related patents. But so did IBM, Phillips and Xerox. Nathan Weinberg comments:

The most interesting one? Easily IBM’s filing for “System and method for dynamically optimizing a banner advertisement to counter competing advertisements“. What the system does is analyze a page and detect ads. Then it matches those ads against a database of the client’s competitor’s ads, and reformats the client’s ad to better compete against those ads. Brilliant!

He adds:

If IBM is planning on getting into the online ad game (and this patent is a big hint), this is exactly the million dollar idea any company needs to succeed.

Interesting. IBM's work on search was recently described in a NY Times article (free subscription required).

Posted by David Jackson on January 5, 2005 at 01:33 AM in ticker: ASKJ, ticker: FWHT, ticker: GOOG, ticker: LOOK, ticker: MAMA, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Monday, January 03, 2005

Briefs updates on search, with implications

- Robin Good estimates that non-Microsoft browsers now have 30% share of the browser market  (Firefox has 20%), and that by the end of '05 Internet Explorer will no longer be the browser of choice for the majority of Internet users.

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Posted by David Jackson on January 3, 2005 at 12:01 AM in ticker: ASKJ, ticker: FWHT, ticker: GOOG, ticker: LOOK, ticker: MAMA, ticker: MSFT, ticker: YHOO | Permalink | Comments (2) | TrackBack (0)

Tuesday, December 21, 2004

DoubleClick/Nielsen survey may imply comparison shopping surprise

DoubleClick released the results of a survey it commissioned from Nielsen / NetRatings. Yup, yet another online holiday shopping survey. So instead of summarizing the unsurprising results (online shopping is growing faster than offline shopping - dah!), here's the more interesting part:

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Posted by David Jackson on December 21, 2004 at 11:19 AM in ticker: ASKJ, ticker: DCLK, ticker: FWHT, ticker: GOOG, ticker: MAMA, ticker: SHOP, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Wednesday, December 15, 2004

Click-fraud & the public Internet companies

Two recent Internet conferences (Majestic's and Jupiter's) highlighted the growing problem of click-fraud. Speakers described how companies are hiring other people to click repeatedly on pay-per-click ads from their competitors. But nobody mentioned that the problem is far more acute with public companies. In fact, individuals can directly impact the financial results of public companies without it costing them a penny.

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Posted by David Jackson on December 15, 2004 at 11:39 AM in Sector Themes/Outlook, ticker: ASKJ, ticker: ECST, ticker: FWHT, ticker: GOOG, ticker: LOOK, ticker: MAMA, ticker: OSTK, ticker: SHOP | Permalink | Comments (0) | TrackBack (0)