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Viant, others struggle as shake-up looms

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.

CNET News staff
 
  latest developments 

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. see related story: Net consultancies feel shakeout heat

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.