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Widening Internet search lead propels Google stock

Occurred: 11/25/2008

SAN FRANCISCO (AP) — Google Inc.'s stock snapped out of its recent funk Tuesday after new data showed the Internet search leader is becoming even more dominant in the most lucrative part of the online advertising market. Internet research firms comScore Inc. and Nielsen Online both said the volume of search requests at Google has climbed substantially over the past year while rivals Yahoo Inc. and Microsoft Corp. are losing market share. The statistics, based on October search activity, bodes well for Google's fourth-quarter revenue because the Mountain View, Calif.-based company makes most of its money by showing ads alongside search results. Fielding more search inquiries generally gives Google more opportunities to show ads and pocket a commission. Investors have been worried the worsening economy will slow Google's earnings growth, but they were apparently heartened by Tuesday's news. Google shares surged $24.61, or 9.6 percent, to close at $282.05. The stock has dropped by more than 30 percent so far in the fourth quarter, leaving it near its lowest levels in 3 1/2 years.

Reference/Source: http://www.google.com/hostednews/ap/article/ALeqM5i23u5oA2rb7bqpZ037ZZwrgAhNaAD94M9RRO1

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