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Technology Stocks : Overture (OVER) formerly (GOTO) -- Ignore unavailable to you. Want to Upgrade?

To: Brasco One who wrote (4)	11/6/2001 8:19:11 PM
From: Ron Mgrublian	Read Replies (1) \| Respond to of 429

Overture Services Investor Idealab! Sells 1.8 Million Shares By Daniel Goldstein Washington, Nov. 5 (Bloomberg) -- Overture Services Inc. investor Idealab! Holdings sold 1.8 million shares of the Internet- search service developer, whose stock has more than tripled this year. Idealab! Holdings said it sold 200,000 shares in market transactions between Oct. 25 and Nov. 2, along with a sale of 1.6 million shares in a private transaction on Nov. 1, according to a Schedule 13D filing with the Securities and Exchange Commission. Idealab! didn't say in the SEC filing what the per-share price was for the stock sales or to whom the sales were made to in the privately negotiated transaction. At today's market price, 1.8 million Overture shares would be valued at $45.5 million. Overture shares rose $2.58 today to $25.25. Idealab! said it ``will continue to sell in market transactions'' shares of the company's common stock. Pasadena, California-based Idealab!, together with its chairman and chief executive William Gross, currently control about 6.9 million shares of Overture stock, about 12.1 percent of the total shares outstanding. Last month, Overture, which changed its name from GoTo.com Inc., earned $9 million in the third quarter, topping analyst estimates, as more businesses paid to be listed in Overture's search results. Internet services that use Overture's search engine include AOL Time Warner Inc.'s America Online and Terra Networks SA's Lycos. The Pasadena, California-based company said it expects fourth- quarter net income of $10 million, or 17 cents a share, on sales of $76 million. Analysts had previously forecast a profit of 6 cents a share in the fourth quarter, according to First Call. bloomberg.com