Joe Bousquin
Expedia's(EXPE) departure has been delayed.
The deal in which Microsoft(MSFT) agreed to sell its stake in the travel Web site to USA Networks(USAI) for $1.7 billion has been put off, along with Microsoft's $650 million pretax gain from it, because of Vivendi's(V) deal to buy USA's entertainment assets, which was announced Monday. Microsoft said that instead of the Expedia deal closing during the current quarter, as expected, it should now get done in either the first or second quarter of next year. It also said that "other than the delay in the timing of the expected gain on the sale of its Expedia stake, Microsoft is not providing any update to the financial guidance it released on Oct. 18, 2001." Analysts currently expect Microsoft to earn 49 cents per share on $7.2 billion in revenue during the quarter ending Dec. 31, 2001, according to Thomson Financial/First Call. The stock was up a nickel at $69.03 Tuesday.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,419.86 | 1,313.32 | 2,837.36 | 16.25 |
Oil *
103.00
|
|
DOWN
160.83 |
DOWN
19.10 |
DOWN
33.63 |
DOWN
1.06 |
10 Yr
1.62%
SPDR Gold
151.91
|
|
-1.28%
|
-1.43%
|
-1.17%
|
-6.12%
|
Data delayed 20 minutes |
Connect with TheStreet