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August 02, 2005

Napster Soars; InfoSpace Sours

Forbes: Napster stock soared 19% last week to $5.14 after the company announced that it plans to team up with XM to deliver Napster+XM, which we reported on HERE. "For a while, analysts have been predicting that the satellite and online music industries would somehow converge, and this deal marks the first substantial move in that direction."

InfoSpace on the other hand, "lost 30% of its value after it provided a dismal forecast for the current quarter and the year, to end the week at $24.14...As a result, InfoSpace's shares were savaged as five investment banks lowered their ratings on the company."

Posted by Todd in Napster | Permalink


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