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Stocks Under $10 with 50-100% upside potential - 14 days FREE! Tumbles After Google Enters Domain Name Market

Stocks in this article: WWWW GOOG

NEW YORK (TheStreet) -- Shares of (WWWW), which provides Internet addresses, are falling after Google (GOOG) announced that it would offer a similar service.

WHAT'S NEW: Google announced on its Google+ blog that it would enable individuals and businesses to choose Internet addresses, also known as domain names. The search giant stated that it would offer specialized domain endings such as .guru and .photography. Similarly, maintains a registry of domain names from which individuals and businesses can choose. Meanwhile, Google stated that it was partnering with companies that will offer website building tools. offers website design services.

ANALYST REACTION: In a note to investors earlier today, JPMorgan analyst Sterling Auty wrote that Google's move would likely hurt However, is attractive to small and medium businesses, as they like the additional services, such as the construction and maintenance of websites, that the company provides, according to the analyst. He kept an Overweight rating on the stock. Meanwhile, Verisign (VRSN) and Neustar (NSR) - which provide the backend infrastructure for websites and manage the domain names that are sold through and its competitors - could benefit from Google's entrance into the market, Auty believes. He kept an Overweight rating on and a Neutral rating on Verisign. Since Google is not hosting websites or helping customers build their own websites, the search giant is not directly competing against or another company in the sector, Endurance (EIGI), Wells Fargo analyst Gray Powell wrote. and Endurance provide "higher end" services and Powell does not expect the competition faced by the two to increase in the near-term or mid-term. He kept Outperform ratings on shares of both and Endurance.

PRICE ACTION: In early trading, tumbled 21%, to $27.25, Endurance sank 10% to $14.23, Verisign rose 0.4% to $51.45 and Neustar added 0.8% to $25.70.

Reporting by Larry Ramer

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