Google dips below the $400 mark
GOOG shares hit $395.02 at 9:32 a.m. Pacific time today. Contrary to Eric Schmidt's claim last week that the current American financial crisis is confined to Wall Street: "The drama is in New York and not here." On Friday, Kaufman Bros. analyst Jason Avilio had cut his revenue forecast for Google's third quarter by nearly 15 percent, from $4.7 billion to $4.03 billion. Now that shares have dipped below the psychological $400 mark, it's unlikely that today's new 52-week low will be the last one.