Prognostications and other thoughts

Monday, March 21, 2005

Ask Jeeves to be bought by IAC

One of the predictions here:
http://twainmein.com/pages/prog2005/index.htm#2005_Stock_Picks
- materializing now. Of course, I thought the acquisition would bump ASKJ a lot more than 4%!
This has been a lousy year for these stocks; total portfolio is down 8.4%. Some bright spots-Apple up 34% since 1/1/05, after doubling last year. Sears up 12%, Texas Instruments up 2.5%

Full story here:
http://biz.yahoo.com/ap/050321/iac_ask_jeeves_8.html
NEW YORK (AP) -- Barry Diller's electronic-commerce company IAC/InterActiveCorp is buying Ask Jeeves Inc., the Web-search service, for $1.85 billion, the companies announced Monday. AskJeeves shares climbed 14 percent in early trading.

The deal would put Diller's company into the highly competitive and rapidly growing business of Internet search, which is dominated by big players like Google Inc., Yahoo Inc. and Microsoft Corp.'s MSN service