Internet
Overstock.com (OSTK - Cramer's Take - Stockpickr) posted 64% revenue growth in the third quarter, but the online retailer's loss more than quadrupled, prompting effusive CEO Patrick Byrne to take the blame and say the results were his "bad." Third-quarter revenue reached $169.3 million, up from $103.4 million a year ago. Overstock.com lost $14.2 million, or 75 cents a share, in the quarter. The Salt Lake City-based company had a loss of $3 million, or 16 cents a share, a year earlier. "Q3 was rough," Byrne said in a prepared statement. "My bad. I bit off more technology projects than my colleagues could chew. The last bite, an [enterprise resource planning] implementation, was one bite too many, and we choked on it." Byrne also said that during the quarter "unexpected bad things happened," while "expected good things did not happen." Overstock recently sued New York hedge fund Rocker Partners, accusing it of conspiring to drive down the company's shares. Rocker, which owns about 8% of TheStreet.com Inc. (TSCM - Cramer's Take - Stockpickr), the publisher of this Web site, is countersuing. Shares of Overstock were down 44 cents, or 1.3%, to $32.48 in premarket trading.
Company sees a 26% jump in year-over-year advertising revenue.
The stock drops 15%.
The Internet space gets ever more crowded.
These forgotten Internet stocks are being accumulated by hedge funds.
Raspberries for Apple; You'll be sorry, UBS; Fortress or Fort Knox? Wholly unappetizing Foods; give Liberty AOL or give them...
The GOP presidential candidate raised $27 million in July.
Some credit and debit cards give you some cash back on purchases. But you need to manage it well to benefit from it.
Sponsored by:



