yahoo misses and guides flat for q3

Yahoo reported this morning and missed analysts expectations on its Q2 revenues and has guided for a flat Q3 and an as guided FY 2005 revenues.

The market was looking for a stronger Q3 and higher FY revenues.

It is down over 10% in after hours trade.

Google report ths week as well and if they report like Yahoo the sector will get smashed.

LOOK reports on July 28th and Yahoo has usually been a guide for LOOK's earnings.

Now that Yahoo have missed and guided flat....it will be hard for a minnow like LOOK to swim against the tide.

The sector might have topped out for now.....the worst news for any LOOK holders.