Google Falls To $400
Jan 23, 2006, 6:00 AM
Google shares fell more than 8 percent on Friday to around $400 a share, in the largest one-day drop since the company went public in August 2004. The decline came one day after it was revealed that Google is fighting a federal subpoena demanding information about Web sites indexed and users' queries. The fall-off also happened several days after Yahoo! disappointed Wall Street with profits of 17 cents a share--one penny less than the consensus estimate.