Stock Watch: Revised AltaVista Deal Sends DoubleClick Lower

DoubleClick (Nasdaq: DCLK) fell 3 13/16 to 34 13/16 Tuesday after AltaVista Co. restructured an agreement with the controversial firm. AltaVista is going to take lead responsibility for a number of European Web sites.

AltaVista, a unit of CMGI (Nasdaq: CMGI), extended the agreement through 2004, but said it will begin to lead on ad sales in the UK, France, Germany, Italy, Sweden and the Netherlands by January 1, 2001.

In 2003, "at least half" of all AltaVista's ads will use DoubleClick's Dart service, but AltaVista will assume majority responsibility after that, the companies said.