GOOG Google: Color on today's sell-off

Wednesday, January 23, 2008

GOOG Google: Color on today's sell-off (537.44 -47.55) -Update-

Citigroup notes that GOOG is trading down 8%+ intraday, and they attribute the decline to 3 factors: 1) A negative momentum reaction to Apple's earnings; 2) weak comScore U.S. Search Query data and 3) weak comScore U.S. Paid Click data for Q4 of 8% Q/Q, which marks a surprising deceleration from the 11% Q/Q growth that comScore reported in Q3. The firm says these datapoints do increase the risk to their and Street Q4 estimates.