It was one of those rumors that circulates on trading floors every day, but because it’s a slow trading day in late July, we’ll report it.
And because it involves serial Internet company acquirer InterActiveCorp , there might be a smidgen of truth to it.
Anyway, DoubleClick spiked 5% Wednesday on rumors that it could be acquired by IACI, the company formerly known as USA Interactive that has so far in 2003 snapped up Expedia, Ticketmaster, uDate.com, Hotels.com and Lending Tree.
So it’s not too great a stretch to assume that online ad leader DoubleClick could be next. DCLK stock settled down after the spike to close 1.6% higher on the day.
The broader market slipped Wednesday ahead of key economic reports, including second-quarter GDP on Thursday, and July unemployment, Michigan sentiment and ISM manufacturing numbers on Friday.
The Nasdaq lost 10 to 1720, the S&P 500 declined 1 to 987, and the Dow slipped 4 to 9200. Volume declined to 1.36 billion shares on the NYSE, and 1.51 billion on the Nasdaq. Decliners led 16-15 on the NYSE, and 17-13 on the Nasdaq. Downside volume was 59% on the NYSE, and 66% on the Nasdaq. New highs-new lows were 139-33 on the NYSE, and 196-8 on the Nasdaq.
After the close, Monster Worldwide beat estimates, while Overstock.com
missed.
During the day, LookSmart surged 13% after beating estimates and raising guidance.
MicroStrategy gained 3.6% after beating estimates but lowering guidance. Answerthink
climbed 4% on better than expected results and guidance.
JNI and Genesis Microchip
plunged on disappointing results.
Barnesandnoble.com soared 16% on news that its parent company will repurchase shares from Bertelsmann.
Corvis gained 7% on speculation that it could win a $150 million government contract.
Pinnacle Systems plunged 37% on a warning.
EMC slipped 1% as it tries to regain high-end market share.
AT&T fell 2.7% on news that it will challenge Verizon
in the DSL market.
Intel , off 1.7%, won a shareholder lawsuit.
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