As more Americans turn to the Internet to find love, online dating services are starting to look like the new investment darling.» Read More
IAC/InterActive Corp reported its second quarter earnings today and net income was up 78%, but Wall Street wasn't impressed -- the jump was thanks solely to divestiture and lower acquisition costs. Looking only at continuing operations (excluding stock compensation and those divestiture costs), the quarter's earnings were 31 cents, a penny less than the year-ago quarter, and two cents less than the analyst consensus. Revenues grew six percent, less than analysts expected.
Expedia, the online travel agency controlled by Barry Diller, said it is cutting its plan to buy back its own shares by almost 80 percent, blaming a lack of attractive financing available in credit markets.