The markets are falling today and they are falling very hard. The Dow Jones has fallen 2.7% a drop of over 328 points. The Nasdaq is facing a similar crisis falling over 3.3% a drop of89 points. And to round out the big three the S&P 500 has dropped 3.1% or 38 points today. The latest economic news is bleak and could actually lead to a bigger decline in the markets tomorrow and extending into next week. Job news appears to be weak and tomorrows release of new employment data could have a significant impact on which way the market turns. There are a few diamonds amongst the rough today.
Web.com Group, Inc. (Nasdaq:WWWW) shares are up this morning rising 32.5% to $11.50 per share with an intraday high of $11.65. Volume is trading 5 times normal as positive results from Q2 are in. Web.com had Q2 revenue of $42.2 million for the second quarter. This was good news that has become better with word that WWWW has agreed to acquire Internet domain name company Network Solutions in a deal worth $560 million. The deal includes $405 million in cash and 18 million shares of $155 million shares.
Emdeon Inc. (NYSE:EM) shares are up today climbing 13.6% to $18.46 per share. Volume is trading heavy as nearly 8.5 million shares have been traded. The rise in Emdeon comes as private equity firm Blackstone Capital partners has agreed to take the company private in a buyout. the deal is worth a reported $2.2 billion. The transaction was unanimously approved by the company’s board of directors. The calls for Emdeon shareholders to receive $19 per share a 17% premium over the stocks previous close.
Despite those two stocks performing well the majority of stocks have fallen on the fears that this may be the beginning of a global sell off in the worlds markets. Oil has fallen to $87 a barrel its lowest level in over a month. Gold remains strong at $1654 an ounce while silver resides at $39 an ounce. The next few weeks is really going to determine where our economy is heading. Some economist believe it a recovery is ahead while some believe that a recession is on the way. All I can say is the next few weeks are going to be a bumpy economic ride with both ups and downs.