The news that Microsoft has made a serious bid to acquire Yahoo is having immediate effect upon Google, the main competitor to the future-search-megalithic of YahooSoft.
While Yahoo!'s stock took off and soared $8.57, or 45%, to $27.76, Google's stocks took an opposite trajectory. After the announcement, it sank $49.77, or 8.8%, to $514.87 on Nasdaq.
Another blow to the googe: Yesterday, the company posted fourth-quarter profit of $1.21 billion, up 17% from the year-earlier period , which sounds good, but actually falls short of analysts' expectations.
Ouch, people.
Wall Street Journal: Nasdaq Waffles While Yahoo Soars
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