Yahoo! (YHOO) was up 10.5% in late trading after Merrill Lynch analyst Henry Blodget said it is a good time for investors who can tolerate risk to look at Internet media stocks.

AOL Time Warner

(AOL)

was up 2% and

Homestore.com

(HOMS)

was ahead 16.3% after being mentioned by Blodget.

The analyst also said

DoubleClick

(DCLK)

and

GoTo

(GOTO)

are "worth a look" for the long term. DoubleClick was down 4.4%. GoTo was down 5.7%.

Separately,

Yahoo! Europe

announced that its managing director resigned to pursue other business interests.