--(www.USEquityNews.com)-- 10/20/2008 - Internet Information Provider industry alert provided by U.S. Equity News. HLTH Corp. (Nasdaq: HLTH), the parent of health care information company WebMD Health Corp. said Monday it will launch a tender offer next week buy back up to 50 million shares of common stock for about $460 million, or $9.20 per share. The buyback follows the company's announcement that its proposed merger with subsidiary WebMD was called off. The companies' boards of directors favored ending the $2.31 billion deal, citing ongoing turmoil in the financial markets.
Various reports are pointing to an inevitable move by Yahoo (NasdaqGS: YHOO) to cut a good number of jobs, as many as above thousand. This comes as the company is set to announce its Q3 earnings on Tuesday and the picture may not be pretty. Besides these layoffs, many other cost cutting measures will be announced, reports WSJ. Yahoo managers have been asked to cut operating budgets by 15 percent, and the company has recently let go of two to three dozen external recruiters, WSJ says, citing sources.
Web.com (NasdaqGM: WWWW) is a leading provider of Web services for small and medium businesses (SMBs). The company uses a factory approach that it can leverage over thousands of customers. We believe the company is feeling pressure from a slowing consumer market, which many of its customers cater to. However, the long-term still looks bright. We therefore reiterate our Buy recommendation on WWWW with a lower six-month target price of $8.50, given growing macro economic concerns.
Elysium Internet, Inc. (OTCBB: EYSM), a next generation Internet advertising and new media Company, today announced that it expects to report a sequential sales increase in excess of 100% for its fiscal third quarter ended August 31, 2008 fueled by increases in sign-ups to its targeted Internet Directories. Elysium anticipates filing its third quarter form 10Q with the Securities and Exchange Commission within days.
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