eBay Slumps 5% on Comments
eBay
was down 5% in preopen
Island
and other Internet issues were also lower. After Tuesday's close,
Merrill Lynch
analyst Henry Blodget said even the top companies in the sector could face short-term difficulties.
Blodget also cited
AOL
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(AOL)
,
Amazon.com
(AMZN) - Get Amazon.com Inc. Report
and
Yahoo!
(YHOO)
, saying that Yahoo! in particular is risky in the near-term because of the deteriorating online advertising market.
Yahoo! was down 4.1% in the preopen. Amazon.com was down 4.1%. Blodget said eBay's business is OK but that the stock is expensive.
