AOLTW SHARES DIP… AGAIN
For the third day in a row, shares in AOL Time Warner have fallen.
On Thursday (2/1), AOL Time Warner shares declined in value as investors voiced disappointment in the company's fourth-quarter results (hitsdailydouble.com, 1/31) and skepticism about growth prospects, Reuters reports.
The stock, which had surged about 70% since the beginning of the year, closed down $2.73, or about 5%, to $49.83 Thursday.
"I think people are suddenly realizing that the numbers did look kind of bad," ABN Amro Internet analyst Arthur Newman told Reuters. "The AOL numbers were fine, but the Time Warner numbers were rather disappointing."
The latest drop comes a day after AOL Time Warner sketched out its future plans while revealing its quarterly results (rumor mill, 1/31). AOL Time Warner shares fell 3% Wednesday (1/31), following a 1% dip on Monday (1/29), Reuters said. Hitsdailydouble staffers can't figure out exactly what happened on Tuesday (1/30), which has been ominously been left out of the report.
