Microsoft is much further along than people anticipated and it's clear that it will rely on its own search technology rather than acquiring.

The investor focus has turned back to eyeballs and the value of traffic on the Internet, especially value you can derive from advertising.

We do get a sense that search advertising has picked up since mid-August and that this recovery will continue in the fall and the fourth quarter.

With $7 billion in cash, they are on more of a level playing field.

It was a very impressive quarter. I would expect fourth-quarter numbers to move higher.

It slows their progress. It doesn't eliminate their progress.

There has been a lack of liquidity, and this certainly makes more shares available to institutional investors.

I think he adds substantial credibility to the combination; it makes people very optimistic that he will build a significant and multibillion-dollar company over time.

You might see the stock pause temporarily, ... For the longer term, we're still very bullish but in the very short term it wouldn't be a surprise to see the stock stabilize or pull back.