Facebook poaches Google executive as COO

Reuters
Posted: Wednesday, Mar 05, 2008 at 1429 hrs IST
Updated: Wednesday, Mar 05, 2008 at 1450 hrs IST

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San Francisco, March 5:: main sales channels for Google, its AdWords and AdSense online advertising services.

Prior to Google, she was chief of staff to U.S. Treasury Secretary Larry Summers in the Clinton administration.

Google's stock fell as low as $435.78 in heavy trade amid a broad drop in technology shares after a profit warning from Intel Corp (INTC.O: Quote, Profile, Research). Google slid below its 52-week low of $437, set nearly one year ago on March 5, 2007.

The stock move bookmarks the latest chapter in a sharp reversal of fortune for Google and its shareholders since the stock hit a record high early last November.

Just four months ago, Google had a stock-market value exceeding $232 billion and a share price approaching $750 after more than three years of unchecked gains. Its market capitalization has sunk to $139 billion at Tuesday prices.

"Falling below the 52-week level is a psychologically important barrier," said Aggarwal, who recommends investors continue to buy Google shares, saying they will outperform the market. But he cautioned that "negative sentiments appear to be increasing" for the stock. ...

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