Google misses Street targets, shares tumble

Shares of Google Inc. fell as much as 19 percent (down $70) on Tuesday after the Web search company missed Wall Street profit targets for the first time in its short but spectacular history, as disappointing British results led to higher-than-expected taxes. The slide, which at one stage wiped out more than $20 billion of Google’s market value, illustrated the big risks investors have taken by buying the shares after a meteoric rise since their initial public offering in August 2004. For more click

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~ by WYSIWYG on February 1, 2006.

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