Viant, others struggle as shake-up looms

 

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It was a miserable week for Internet consulting companies, as many investors bailed. Analysts have become pessimistic, and the industry appears ripe for a massive consolidation. "There will be considerable uncertainty clouding the Internet professional services group for a while." Stephen McClellan, Merrill Lynch analyst

Net consultancies hit as investors jump ship Shares of Viant bottom out with a new 52-week low in midday trading, a day after the company announced it would see revenues decline in the third quarter. Viant shares sink after hours on revenue warning The technology consulting company's stock plummets 26 percent after it warns investors that it expects a revenue shortfall for the third quarter. Previous coverage Net consultancies feeling heat of looming shakeout Internet consulting companies, which peddle seasoned advice to chaotic e-commerce clients, are struggling through a crisis of their own. Web consulting firms taking focus off dot-coms For some time, Web consulting companies have busily promoted their dot-com client rosters, but with an increasing number of dot-coms going belly-up, that may no longer be considered such a badge of honor.