This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Equinix, WebMD: Winners & Losers (Update 1)

Stocks in this article: WBMD EQIX PWRD

Updated from 12:19 p.m. EST to provide updated share prices, additional financial guidance on WebMD, and investigation against Perfect World.

NEW YORK ( TheStreet) - WebMD (WBMD - Get Report) shares were down sharply Tuesday, off 27.7% to $26.55 after the company announced the end of its sale process, the resignation of its CEO and expectations for 2012 sales to be lower than 2011.

WebMD had been discussing selling itself to potential suitors, but the company's board decided to stop the process. No reason was given why the sale process was stopped.

In addition, CEO Wayne T. Gattinella stepped down immediately, with CFO and COO Anthony Vuolo taking his place. WebMD also said it expects 2012 sales to be 2% to 8% lower than fiscal year 2011.

WebMD said it anticipates 2012 expenses will increase by as much as 5% to 8% over 2011 levels, due in large part to investments in areas such as "personalization, mobile, social, international, new content areas and new advertiser products and services."

Perfect World (PWRD - Get Report) shares were up 16.7% to $10.28 after the Chinese gaming company vehemently denied the recent allegations that CEO Michael Chi purchased a 20% stake in without disclosing it to the Securities and Exchange Commission. There were also accusations that purchased ads from Perfect World at above-market rates, and no mention of the ties between the companies was made.

Perfect World is one of China's leading social gaming companies, similar to the Zynga (ZNGA) of China.

Data center operator Equinix (EQIX - Get Report) shares were up 2.1% to $110.10 on heavier than normal volume.

Research firm Gartner recently forecast worldwide IT spending to be $3.8 trillion in 2012, up 3.8% from 2011.

Tech stocks were generally rising in context with the broader Nasdaq, which is up just over 1%.

Interested in more on Equinix? See TheStreet Ratings' report card for this stock.

Check out our new tech blog, Tech Trends.

-- Written by Chris Ciaccia in New York

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To 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.
Submit an article to us!


DOW 17,397.11 +205.74 1.20%
S&P 500 2,013.60 +11.44 0.57%
NASDAQ 4,663.7490 +25.7550 0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs