Overture Investors Overreact, Rival Says

Updated from 7 a.m. EDT

Shares in Overture Services (OVER Quote) were swinging Wednesday on news that its relationship with America Online (AOL Quote) has ended. But as usual, they probably will swing too far.

So says someone who has a unique, though not necessarily objective, perspective on pay-per-click search-engine operator Overture: Craig Pisaris-Henderson, CEO of FindWhat.com (FWHT Quote), a pint-sized knockoff -- think of the Mini-Me character from the Austin Powers movie -- of Overture.

From an investor's point of view, says Pisaris-Henderson, it makes sense that Overture's stock might fall on the news that it has lost a distribution partnership with major affiliates that use Overture's pay-for-placement search engine on their Web site. (Pisaris-Henderson doesn't actually own stock in the rival company.) ...