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Technology Stocks : GOOGLE (NasdaqNM:GOOG)
GOOG 1,343+0.2%3:59 PM EST

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From: Bennitto1/7/2006 8:27:06 PM
   of 20
 
Yahoo, Google bring out the bulls
Move comes amid video plans, higher earnings views

By Scott Banerjee

SAN FRANCISCO (MarketWatch) -- Shares of Yahoo Inc. and Google Inc. both surged Friday as the Internet media companies moved to expand their wireless and digital-video initiatives.

Additionally, Goldman Sachs raised its estimate for Yahoo's earnings.

The Net sector made a strong move to the upside as the Dow Jones Internet Index (DJI_DJINET:
Dow Jones Internet Index (Composite)
News, chart, profile
Last: 100.67+2.08+2.11%

5:17pm 01/06/2006

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FinancialsMore DJI_DJINETDJI_DJINET100.67, +2.08, +2.1%) rose 2.1% to 100.67, breaking the 100 mark for the first time since mid-2001, while the technology-heavy Nasdaq Composite Index ($COMPQ: Nasdaq Composite Index
News, chart, profile
Last: 2,305.62+28.75+1.26%

5:16pm 01/06/2006

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FinancialsMore $COMPQ$COMPQ2,305.62, +28.75, +1.3%) rose 28.75 points to 2,305.62, capping a 4.5% gain for the week.

Yahoo (YHOO:
Yahoo! Inc.
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Last: 43.21+1.68+4.05%

5:05pm 01/06/2006

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FinancialsMore YHOOYHOO43.21, +1.68, +4.0%) shares closed up 4% to $43.21 while Google (GOOG: google inc cl a
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Last: 465.66+14.42+3.20%

5:05pm 01/06/2006

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FinancialsMore GOOGGOOG465.66, +14.42, +3.2%) shares hit an all-time closing high of 465.66 after trading above $470 in the last hour of trading.
Both companies made agreements with Motorola (MOT:
Motorola, Inc.
Motorola will provide one-click access to Google's Web-search services on handsets capable of transmitting data. In addition, it will make it easy for consumers to access core Yahoo services such as email, address books, calendar and instant messenger from some Motorola phones. See full story.

Motorola said the mass-market, Internet-optimized handsets will be available in early 2006.

Yahoo and Google were set to unveil plans later in the day on initiatives that highlight their efforts to become major distributors of paid video-on-demand programming.

Yahoo announced at the Consumer Electronics Show in Las Vegas a suite of services called Yahoo Go, accessible outside of Web-browser software, from computers, cellphones and on television sets. See full story.

Also lifting Yahoo, Goldman Sachs raised its earnings estimates for on the company, citing expectations of higher search and branded revenue growth. Analyst Anthony Noto also increased his value estimate for Yahoo shares to about $50 from $40 to $44.

Noto lifted estimated 2006 earnings to 85 cents a share from 79 cents and forecast 2007 earnings of $1.05 a share, vs. a previous estimate of 92 cents a share.

The Journal also reported that Google plans to announce that it will begin allowing consumers to buy videos from major content partners through the Google site and will also roll out a new downloadable bundle of software for consumers that could heighten Google's competition with Microsoft Corp.
Noto raised his implied value estimate for Google to $500 from $400 based to reflect higher earnings expectations. A more aggressive valuation scenario, wrote Noto, would lift the implied value estimate to $556.

On Thursday, Caris analyst Mark Stahlman wrote that Google's addressable market could perhaps reach $100 billion in sales, over time. At these levels, wrote Stahlman, his valuation metric yields a market capitalization of $620 billion and an implied share price of $2,000. Stahlman underscored that this is not an official price projection.
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