One of our readers, Marc Jones, asked me to update a blog post that I wrote back on March 19, 2007, entitled, "Yahoo! Finance Market Share 52 times Bigger than Google Finance." Well, 'tis the season.
So, Marc, here's an update from Matt Tatham of Hitwise:
Business Information Sites Nov-08 Rank Website Domain Market Share 1 Yahoo! Finance finance.yahoo.com 29.63% 2 MSN Money moneycentral.msn.com 10.24% 3 CNN Money money.cnn.com 9.02% 4 Bloomberg www.bloomberg.com 3.81% 5 Market Watch www.marketwatch.com 3.44% 6 Reuters www.reuters.com 3.11% 7 Internal Revenue Service www.irs.gov 2.32% 8 Google Finance finance.google.com 2.31% 9 The Wall Street Journal www.wsj.com 2.29% 10 CNBC.com www.cnbc.com 2.26%
So, Yahoo! Finance is the leader of the pack -- by almost a three-to-one margin over MSN Money, which is in second place. But Yahoo! Finance is no longer 52 times bigger than Google Finance. Today, it is "merely" 12.8 times bigger.
Okay, that's still a "humongous" lead. (Humongous is a term that we bloggers use to mean extremely huge. We don't get to use it that often when talking about someone who competes with Google. But, we are talking about Google Finance and not Google.)
So, let me thank Marc for asking the question and thank Matt for answering it. And for all of you who are watching your 401K plans become 201K plans, may I suggest that you visit some of the top business information sites to see if one provides you with better insights than the others. And let me know what you find.
Posted by Greg Jarboe at 4:29 PM | Permalink | Comments (6)
Seems Yahoo CEO Jerry Yang has made an end move to stop the bickering between the usurpers and his current slate of board members. They have offered Carl Icahn a spot on the new board along with another of his proposed new slate of candidates, according to the Wall Street Journal.
Very clever Jerry. Adding Icahn and former AOL Chairman and CEO Jonathan Miller is a good way to stop the schoolyard emails and press releases we have seen over the past month or so.
That shareholders meeting on Aug 1 should be interesting.
Posted by Frank Watson at 2:01 PM | Permalink | Comments (0)
Yesterday afternoon, comScore announced the latest rankings in the financial news and research site category, which attracted more than 64 million U.S. visitors in May, an increase of 35 percent versus year ago.
Yahoo! Finance was the leader in the category during May with 18.5 million visitors, up 58 percent versus year ago, followed by AOL Money & Finance with 15.2 million visitors (up 48 percent) and MSN Money with 13.7 million visitors (up 13 percent).
Here are the top 10 Financial News and Research Sites:
Total Unique Visitors (millions) May 2008 1. Yahoo! Finance 18.5 2. AOL Money & Finance 15.2 3. MSN Money 13.7 4. Forbes Property 7.0 5. Dow Jones & Company 6.6 6. CNN Money 6.0 7. BNET 5.6 8. TheStreet.com Sites 5.3 9. Reuters Sites 4.8 10. Reed Business Information 3.8
The category displayed visitor growth across virtually all demographic segments. However, certain segments contributed more than others.
The number of visitors to the category age 50 and older grew 46 percent versus year ago, while visitors under 50 grew by 32 percent. Above average growth was also seen in the following segments: households earning at least $60,000 annually (40 percent), households with children (38 percent) and households with at least 5 people (57 percent).
In other words, the segments displaying the greatest growth are those more likely to have greater financial responsibilities or challenges, such as paying for their kids to go to college, or needing to figure out how best to handle rapidly escalating monthly payments on home mortgages. And don't get me started on rising gas prices.
Why should search engine marketers pay attention to this trend? Check out your favorite financial news site, search for a couple of publicly traded companies, and see how many press releases you can find in the results. Most of them have been distributed by Business Wire, Marketwire, PrimeNewswire and PR Newswire.
It kind of makes you think.
Posted by Greg Jarboe at 8:17 AM | Permalink | Comments (0)
Guess the wagon circling has begun over at Yahoo in preparation of the stockholders' meeting August 1. They sent out a letter to stockholders outlining the various events of the past few months and promoted voted for the existing board of directors.
The letter attacks Carl Icahn.
"It is time for Yahoo! to turn its undivided attention to implementing its key strategies, and we therefore urge you to reject Mr. Icahn's slate and his ill-defined agenda," the letter from Yahoo CEO Roy Bostock states.
The letter - posted below - is very slanted towards the actions of the existing executives. Right now the Microsoft offer of $31 to $34 looks good given the stocks major slump to the low $20s.
The letter read:
Dear Fellow Stockholders:We are writing to update you on the latest developments here at Yahoo!, including our recently announced commercial agreement with Google and the outcome of our discussions with Microsoft regarding a potential transaction.
On June 12, we announced a non-exclusive agreement with Google that we expect will generate approximately $250 to $450 million in incremental operating cash flow for Yahoo! in the first twelve months following implementation. This cash flow will enhance our profitability as well as help support achievement of our key strategic objectives. Combined with continuing advances in our own search capability, the agreement is an important step in our efforts to capitalize on the high-growth online advertising opportunities where we are best positioned to compete successfully and create more value.
Let us explain why we find this new agreement so exciting.
The Yahoo!-Google Agreement is Financially Attractive and Strikes the Right Strategic Balance.Under the agreement with Google, Yahoo! will continue to provide algorithmic and sponsored search results, but now will also have the ability to run sponsored search ads supplied by Google alongside Yahoo!'s search results. Advertisers will pay Google directly for each click on Google paid search results appearing on Yahoo!. Google will then pay us a fee (in industry jargon, traffic acquisition cost) based on revenue realized from click-throughs on ads supplied to Yahoo! by Google.
This carefully structured agreement strikes the right strategic balance, enhancing our financial results while advancing our strategic objectives of being the "starting point" for the most users on the Internet and offering such compelling value that advertisers will see us as the "must buy" in online advertising.
One of our key strategies for achieving these objectives is to capitalize on the increasing convergence of search and display advertising, where we are especially well positioned to compete and succeed. We have already accelerated our efforts to strengthen our presence in display through a variety of initiatives and acquisitions in recent months. Our new commercial agreement with Google enhances our ability to pursue this strategy.
Another key strategy is to open our platform to other developers to optimize monetization for our advertisers and publishers and provide the best experience for our users. We see this agreement as a natural extension of the efforts we have already made toward an open marketplace.
The Google agreement is non-exclusive and provides strategic and operational flexibility for Yahoo!. It allows Yahoo! to use Google's services in those areas where Google monetizes our inventory more effectively but also permits us to continue to use our own search technology in areas where we believe we are most competitive. The net result is that the agreement helps us accelerate one of our strategic aims--closing the monetization gap. At the same time, it allows Yahoo! to continue to compete aggressively in search and display advertising.
Importantly, the agreement does not prevent Yahoo! from pursuing other alternatives that could increase stockholder value. Because the agreement can be terminated by either party upon a change in control, it would not preclude a transaction with Microsoft or any other potential acquiror in the future.
The Yahoo!-Google Agreement Does More for Stockholder Value than Microsoft's Search-Only Hybrid Proposal.
We also want to update you on the conclusion to our discussions with Microsoft regarding a potential transaction. As we explained in our last letter, our board and management held numerous meetings and conversations with Microsoft about its proposal to acquire Yahoo!, both before and after Microsoft withdrew that proposal on May 3. On June 8, our Chairman, Roy Bostock, other independent board members, and members of Yahoo!'s management team again met in person with Microsoft representatives. At that meeting, Microsoft stated unequivocally that it has no interest in acquiring all of Yahoo!, even at the price range Microsoft had previously suggested.
Microsoft did propose an alternative transaction. Rather than acquire our whole company as it had been proposing for months, Microsoft now proposed to acquire only our search business for $1 billion and a share of future search advertising revenue. This proposal also included an $8 billion investment in Yahoo! but required Yahoo! to commit to a 10-year exclusive arrangement that would have made us dependent on Microsoft for all of our search business. It would also have given Microsoft veto rights on certain future Yahoo! actions, including a sale of Yahoo!. Our board of directors and management made a great effort--and conducted in depth negotiations--to elicit a feasible proposal from Microsoft that made strategic and financial sense for Yahoo!, but without success.
While Microsoft's search-only hybrid proposal may have been helpful to Microsoft, our board and management concluded it would have had a significant adverse impact on Yahoo! strategically, leaving the Company without the operational control of search assets and technology we view as critical to our objective of becoming a leader in the converging search and display advertising business. The board and its advisers also carefully studied the financial impact of Microsoft's proposal and concluded that it would have provided no meaningful improvement to our operating cash flow. In short, this proposal would have generated substantially less value for Yahoo! stockholders than Microsoft has suggested.
Based on all the key factors--strengthening our competitiveness, protecting our strategic position, generating attractive financial returns--the Google agreement is far better than Microsoft's search- only hybrid proposal. That's why we moved forward with it.
Your Current Board of Directors Has the Knowledge, Experience and Commitment to Best Represent Your Interests and Maximize Stockholder Value.
The events of recent weeks underscore the fact that your board of directors is far better qualified to represent your interests in the effort to maximize stockholder value than the slate put forward by Carl Icahn.
Based on Mr. Icahn's narrow agenda, it seems highly unlikely that either he or his slate would bring added value to Yahoo!. Consider the following:
-- Mr. Icahn put forward his slate so as to sell Yahoo! to Microsoft, even though he had no knowledge of the sustained efforts made by your current board and management to determine whether Microsoft was willing to engage in a transaction that would provide appropriate value and certainty of achieving that value. On June 8, Microsoft once again made it perfectly clear that it is not currently interested in acquiring Yahoo!. -- Mr. Icahn publicly opposed any alternative form of transaction with Microsoft. Your board and management, after thorough and deliberate negotiations and evaluation, separately concluded on its own that the alternative hybrid deal proposed by Microsoft was, indeed, not in the best interests of the Company or its stockholders. -- Mr. Icahn urged, as an alternative to a Microsoft transaction, that Yahoo! find a way to partner with Google that would not preclude a transaction with Microsoft in the future. We have done exactly that through the commercial agreement with Google we announced on June 12.
Simply put, you can choose to vote for a slate of nominees with no articulated plan for the future of Yahoo!--and who now have essentially no alternative agenda to offer you--or you can choose to vote for your existing board of directors which has the independence, experience, knowledge and commitment to navigate the Company through the rapidly-changing Internet environment, execute on our strategic objectives and deliver value for Yahoo! and its stockholders.
It is time for Yahoo! to turn its undivided attention to implementing its key strategies, and we therefore urge you to reject Mr. Icahn's slate and his ill-defined agenda.
We strongly urge you to vote your WHITE Proxy Card today for your current board of directors.
We look forward to sharing our progress with you as we move forward and we thank you for your support.
Sincerely,
Roy Bostock Jerry Yang Chairman of the Board Chief Executive Officer
Posted by Frank Watson at 9:34 PM | Permalink | Comments (0)
In another move geared toward building their niched portal/community efforts, Yahoo has partnered with CNBC to increase the information available at Yahoo Finance.
"Under the terms of the agreement, CNBC will provide video clips from its global networks and articles from CNBC.com. The content will be available to Yahoo! Finance users in the U.S. (http://finance.yahoo.com), and will also be available to Yahoo!'s 21 international financial news sites. The video clips will encompass commentary and analysis of the day's top business stories, pre-market opening buzz, interviews, investing and stock-picking segments from CNBC programs including "Mad Money w/Jim Cramer" and "Fast Money" and international market news and analysis from CNBC Europe and CNBC Asia," the press release stated.
I have long thought the development of their niched areas was the way for Yahoo to counter the Google juggernaut. Providing the best community sites - be it finance, sports, health or any of the myriad other topics - allows Yahoo to grab the visitors and make them repeat appreciative users who will then end up using the search boxes strategically placed on the community pages.
Let's see how this works for them.
Posted by Frank Watson at 11:41 AM | Permalink
Apparently former Yahoo CEO Terry Semel needs money or thinks the company stock will fall lower. He exercised options on over 180,000 shares Monday and Tuesday and walked off with a cool $4 million dollars.
Well minus the cost of the option.
UPDATE: I have a thousand shares so maybe I am biased.
Posted by Frank Watson at 3:53 PM | Permalink
Despite posting a slight decline from last year's numbers in their Q2 report yesterday, Yahoo CEO Jerry Yang intends to put the company back on "a winning path". A company blog detailed Yang's intentions for Yahoo in the coming quarters. (The content of the entry is shown below).
Yahoo shares lost 3.8% in after hours trading yesterday to trade at $26.49. The company's second-quarter net income was $160.57 million, or 11 cents a share, compared with $164.33 million, or 11 cents a share, last year.
Total revenue was $1.7 billion compared to $1.58 billion same quarter last year. "Net sales, which exclude payments Yahoo makes to other Web sites to acquire traffic rose to $1.24 billion from $1.12 billion a year ago" MarketWatch reported.
This is the first financial report since the resignation of CEO Terry Semel last month and co-founder Jerry Yang took ovcer as his replacement.
Yang's blog comments:
Based on the hundreds of people — employees, investors, partners, advertisers, users, peers — who've reached out to me over the past month, there seems to be no shortage of folks who want Yahoo! to succeed. Put me at the top of that list.
The last four weeks have been occupied by candid conversations and an intense analysis of our assets, challenges, lessons learned, and opportunities. It's helped me look at Yahoo! through new eyes — an approach I think is critical for a guy who's been around for 12 years. While our business continues to grow, we need to dramatically improve our performance and I intend to put us back on a winning path.
So, how do we get there? To be honest, we don't have all the answers today — there's a lot of work to do and some tough decisions ahead. I have a great sense of urgency to move in a fast yet focused way, but we want to do this once and do it thoroughly so it will take time. I intend to spend the next 100 days mapping out a game plan and working with Sue, Filo, Blake, and the team to put the right organization in place and make any necessary changes. We need to invest in areas that are most critical to our success and de-emphasize those that are underperforming or match up with our priorities. There will be no sacred cows.
I believe that Yahoo! is too often defined by the competitive landscape, rather than by what we can accomplish with our assets. I'm determined for us to define our own path. Here's where it starts: We see Yahoo! as a deep and active marketplace — an ecosystem of hundreds of millions of consumers, advertisers, publishers, and developers. All benefit from the presence of the other, and the healthier the ecosystem is, the healthier Yahoo! is. That ecosystem today is not thriving as it should and there's a wide gap between where we are and where we need to be.
We want to deliver the most insights, serve the best content, and create the greatest value. To achieve that, we plan to take advantage of three major differentiators — consumer insights, a prime asset we've frankly under-leveraged to date; openness, as demonstrated by the online exchange we're building with Right Media; and being the partner of choice, as we focus on creating relationships like those with Ebay and the newspaper consortium.
There's a lot of heavy lifting ahead, but I'm feeling good about our awesome assets, our initial progress against our challenges, and our vast opportunities if we nail down and execute against the right plan. It's imperative that we accelerate the transformation of Yahoo!. Our immediate priorities are to invest in the right businesses and shift our product focus accordingly, speed our decision-making and execution, channel our technology assets to build game-changing platforms, and do a better job of attracting, developing and motivating talent while rekindling the culture of winning that built this great company.
One last note: Don't be surprised if you don't see a lot of me in the press in the near future as we keep our heads down working through the challenges and opportunities at hand. I'm sure not everyone will agree with that approach, but it feels right to me. I'm a big believer in doing versus talking. We're focused on making changes from the inside out and we'll get out there when the time is right.
In the meantime, thanks for your encouragement and support.
Jerry Yang CEO & Chief Yahoo
Posted by Frank Watson at 12:07 AM | Permalink
Last month, I asked: "Is Google News the Tail Wagging the News Search Dog?" Today, I'd like to follow up by asking: "Is Google Finance the dog that didn't bark?"
After my earlier article appeared, I asked LeeAnn Prescott, the Research Director at Hitwise, if she would run a custom report on the relative rankings of selected news search engines, financial sites, and social media.
Now, why would anyone what to compare apples, oranges and bananas?
Well, when you conduct a search in Yahoo! News, Google News, or AOL News, you will often find press releases in the results. And, if you use Yahoo! Finance or Google Finance, you'll also find press releases mixed in with news articles. And, advocates of the social media press release are urging PR people to included del.icio.us bookmarks, Technorati tags, and Digg widgets on their press releases.
So, if you check out this mixed bowl of fruit, which sites reach the largest audiences in the US? Here is the custom chart that Prescott sent me, showing Hitwise market share data for January 2007:
How do I interpret this data?
First, the market share of Yahoo! Finance is 52 times larger than the market share of Google Finance. The market share of Yahoo! Finance is even 2.7 times larger than the market share of Google News.
And, you don't need to “optimize” a press release for Yahoo! Finance. You just need to include the company name or stock ticker symbol – which is generally standard operating procedure at most publicly traded companies – and your press release will get indexed.
Second, the two leading blog search engines, Google Blog Search and Technorati, both have a fraction of the market share of the major news search engines. This doesn't mean you should ignore them. But, it does mean that blog search isn't close to leapfrogging news search anytime soon.
Third, while it makes sense to include del.icio.us bookmarks and Technorati tags on your press releases, it makes 57.6 times more sense to optimize your press releases for Yahoo! News, Google News, and AOL News first.
While del.icio.us bookmarks and Technorati tags do not pass PageRank, neither do anchor text links in press releases. But hyperlinks intended to help people find interesting, related content can still generate web traffic, so they are well worth including when applicable.
As for including Digg widgets, Lee Odden, the CEO and founder of TopRank Online Marketing CEO of TopRank Online Marketing and co-founder of Misukanis & Odden Public Relations, says, "Do not submit press releases directly to Digg, Netscape, Reddit, Stumble Upon, etc." Most users of social search sites feel all press releases are spam and will bury them without even putting them on "double-secret probation" first.
Ironically, users of Yahoo! Finance and Google Finance don't seem to share this negative attitude about finding press releases mixed in with other results. Do you think the financial community knows something that the Digg community hasn't learned yet?
Posted by Greg Jarboe at 11:41 AM | Permalink
Just like the advertisers who cannot filter publisher partner ads, Yahoo Finance is running an Seeking Alpha article calling for the replacement of their CEO Terry Semel.
The article details a few of the faux pas Yahoo! has made during Semel's tenure.
Not buying Google in 2002 may be the biggest, but Seeking Alpha's Plan B is a fairly detailled article of missteps made by Yahoo over the past six years.
Posted by Frank Watson at 12:50 PM | Permalink
The International Herald Tribune announced Yahoo! China will develop into a search engine for the business vertical.
CEO Jack Ma of Alibaba Group - owners of Yahoo! China (though Yahoo! owns 40 percent of Alibaba Group).
This is an interesting move on the part of the second largest search engine in China. Is Yahoo! test driving a future move globally?
Posted by Frank Watson at 5:52 AM | Permalink
The Washington Post reports that the SEC wants to charge new fees for accessing and displaying real-time stock quotes. IAC (Ask.com), Google, Yahoo and others in a coalition are fighting back. "The coalition in particular is looking for the SEC to reverse a staff decision allowing the New York Stock Exchange to increase the fees for displaying information from its Archipelago electronic market, some of which had been free. In authorizing the new charges last month, the commission ruled they were legitimate because they were not out of line with those already imposed by the Nasdaq for similar data."
Posted by Barry Schwartz at 10:44 AM | Permalink
Gary Price reports that Yahoo has upgraded their charting software to offer new web 2.0 like charting features. By visiting a stock summary page, like yhoo and clicking on "charts" on the left, you will load a new AJAX like stock quote chart for that stock symbol. The interface is nice and quick, allowing you to dynamically add competitors like GOOG to the chart. For complete features on using Yahoo charts, see the Yahoo charts user guide.
Posted by Barry Schwartz at 8:29 AM | Permalink
Zone-H reports that earlier today, Yahoo's Finance section at biz.yahoo.com was hacked into and defaced. I have not seen any official confirmation or report from Yahoo on this story. They have mirrored the defacement here and here.
Posted by Barry Schwartz at 10:19 AM | Permalink
Part of the launch of the new Yahoo homepage, Yahoo has added some features to Yahoo Finance. Those features include new tools to manage charts, an improved "investors chat room" and financial video news. SearchViews explains that Yahoo "hopes to tone down the wild west atmosphere of boards by introducing a way to rate posts on a scale of 1 to 5 stars, with lower rated posts to be filtered out." Part of the upgrade includes access to adding Yahoo badges to your site, something we beta tested in mid-May.
Posted by Barry Schwartz at 1:43 PM | Permalink
The folks at Yahoo Finance provided me early access to Yahoo Finance Badges. The badges enable you to post financial data, such as stock quotes, charts and news on your site. It's a closed beta, so people can't generally get this. But here is a step-by-step walk through of setting up a Yahoo Finance badge, for when this comes widely available.
First you login and then you are presented with step 1, choose your style of widget; (1) charts, news, and quotes (2) quotes and charts or just (3) quotes. I picked the charts, news, and quotes option.
Next you pick the style of the chart, the stock symbols, the time frame of chart, the number of news items and theme. Here is a screen capture...
Finally, you copy and paste the code into your page, here is a screen capture of that page.
And here it is live...
Posted by Barry Schwartz at 2:16 PM | Permalink
Reuters reports that Yahoo Finance has released thread ratings to its stock message boards. Thread ratings is a fairly basic feature of most standard message board software systems, and is a very nice touch to add here.
You can view some rated posts by looking at YHOO Message Board (you may have to click the yellow "continue" button). Right off the bat you will notice a filter drop down "minimum rating," allowing you to filter out the good posts from the bad. More information on that filtering here. You can also easily sort by rating, by clicking on the average rating column. To rate a post or a thread, just click on the one of the five stars and presto, the thread or post is rated. It is also important to note that these changes come shortly after Google released Google Finance.
Posted by Barry Schwartz at 9:10 AM | Permalink
Yahoo gained RSS feeds for news content last fall, and now it has regained them for the Yahoo Finance service, Yahoo's Jeremy Zawodny reports in his Yahoo Finance RSS Feeds Return post.
For financial feeds, visit the Yahoo Finance RSS feed tool that's now been created. Enter a symbol, and magically, logos to add the feed to your My Yahoo account or any newsreader through an XML icon and URL will appear. Slick.
Note that the tool doesn't check whether the company stock symbol you enter is valid, so ensure that you have it correct first. Jeremy notes in his post that you can enter multiple symbols separated by commas (yhoo,goog) to make a "portfolio" style feed.
How about a revisit to getting those Yahoo News feeds? OK! First, visit the Yahoo News RSS Feed page. There, you'll find a variety of feeds in various categories such as "science" or "health" have already been created.
Not enough? Need something custom. Scroll down to the search box, enter a term and a feed will load in your browser. Ugh -- that needs to change to work like the Yahoo Finance tool, where you get clickable links.
Have no fear, there's a better workaround. Go to Yahoo News, do a keyword search for what you are interested in. Now look in the right-hand column of the page. You'll see an "ADD TO MY YAHOO! / RSS" section. Use the My Yahoo button that's offered to subscribe through My Yahoo or the XML icon to subscribe through other means.
As a reminder, over at MSN Search, feed support web search results was added this week. More on that here: MSN Search Makes RSS Search Feeds Official.
Posted by Danny Sullivan at 9:28 AM | Permalink