Yahoo Shares Rise on Upbeat Ad Outlook
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Yahoo Inc. shares rose 15% after an analyst said sales of advertising this quarter on the most-used network of Web sites would be higher than some forecasts.
Yahoo climbed $2.15 to $16.61.
Sales of advertising on Yahoo’s Web sites are likely to rise as the U.S. economy recovers and as Yahoo takes advertising customers from Internet sites that have failed, SoundView Technology Group analyst Jordan Rohan said. Rohan raised his sales estimate for 2002 to $793 million from $778 million. Yahoo had forecast 2002 sales of $750 million to $800 million, up from $717.4 million in 2001.
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