DoubleClick Rises 8% on Optimism Lycos to Use Its Ad Software - New York, Aug. 26 (Bloomberg)
New York, Aug. 26 (Bloomberg) -- Shares of DoubleClick Inc., an Internet advertising company, rose 8 percent on optimism that No. 2 online directory Lycos Inc. will license DoubleClick's technology for providing targeted ads.
DoubleClick shares rose 7 13/16 to 105 5/16 in trading of 5.46 million. The shares have risen 28 percent since Thursday.
Lycos currently uses ad serving software from Engage Technologies Inc., and a shift to DoubleClick would be an important endorsement for its rival products, said Tara Long, an analyst with C.E. Unterberg, Towbin. The software lets publishers target ads at users based on their Internet surfing activity. ``It would be more significant as a technology win than as a revenue boost,' said Long, who rates the shares ``strong buy.'
CMGI Inc., which invests in Internet companies, has large stakes in both Lycos and Engage Technologies, though Lycos has been at odds with CMGI since it refused to support USA Networks Inc.'s proposed purchase of Lycos.
DoubleClick officials declined to comment. Lycos officials couldn't be reached to comment. |
