The Hartcourt Companies, Inc. (HRCT) Message Board

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Microcap & Penny Stocks : The Hartcourt Companies, Inc. (HRCT)

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To: Ice Cube who wrote (1979)	3/9/2001 7:49:10 AM
From: StockDung	of 2413

CORRECTED - CORRECTED-Top China portals hammered by Yahoo earnings woes Friday March 9, 12:31 am Eastern Time CORRECTED - CORRECTED-Top China portals hammered by Yahoo earnings woes In HONG KONG story headlined ``Top China portals hammered by Yahoo! earnings woes'' please read in fourth paragraph...that Timothy Koogle will step down as chief executive, but will remain chairman...instead of...chief executive Timothy Koogle would leave the company (correcting Koogle's plans). A corrected story follows. HONG KONG, March 9 (Reuters) - Shares in China's three leading Web portals have fallen to all-time lows on the Nasdaq after a second profit warning from Web giant Yahoo Inc (NasdaqNM:YHOO - news) sparked a mass sell-off in global dot.com stocks. Netease.com Inc (NasdaqNM:NTES - news) and Sina.com (NasdaqNM:SINA - news) ended down 19.35 percent and 18.57 percent, respectively, on Thursday while the third contender for top portal in China Sohu.com (NasdaqNM:SOHU - news) fell 6.25 percent to US$0.94 -- below the psychologically important US$1 level. ``Obviously it has to do with Yahoo. What's being called into question in investors' minds is the portal business model,'' said Matt Adams, Internet analyst at Credit Suisse First Boston. Yahoo fell 15.52 percent to an all-time low of US$17.69 after it said on Wednesday that its first-quarter results would fall short of already lowered expectations, and that Timothy Koogle will step down as chief executive, but will remain chairman. Yahoo singled out a deteriorating climate in online ad sales, which the Chinese portals noted was a problem area when they all gave gloomy outlooks this year while reporting their fourth quarter results. Netease CEO King Lai said last week that its revenues would decrease between the last quarter of 2000 and the first quarter of this year due to slackening ad sales. Chinadotcom (NasdaqNM:CHINA - news), a Hong Kong based but Nasdaq listed Internet company was down 21.88 percent at US$3.13

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