Tuesday, January 15, 2008

Google Inc. (GOOG) Shares Fall on Downgrade

Shares of Google Inc. fell Tuesday morning after a Soleil Securities analyst lowered estimates on the online search engine, citing slow December growth in site visits, among other factors.
The stock shed $6.33 to $647.49 after the opening bell.
Page views and viewer traffic were lower than forecast in the last month of 2007, and expenses grew, analyst Laura Martin said in a client note.
She lowered her earnings estimate for the fourth-quarter 2007 to $4.40 per share from $4.72 per share, and for all of 2007 to $15.54 per share from $15.87 per share.

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