VeriSign Rises on Expectation It Will Keep Running .Com Registry
VeriSign Inc. (VRSN) surged after saying that it expects to keep running the .com Web domain-name registry, allaying concern that the company would lose control over a source of revenue.
“VeriSign expects to continue to run the .com registry,” the Reston, Virginia-based company said today in a statement.
The stock increased as much as 15 percent to $42.75 after the announcement. It climbed to $40.94 as of 2:18 p.m. in New York.
Government agencies had been reviewing the agreement that gave VeriSign authority over .com domain names. The company said it “believes” that the Department of Justice has “substantially concluded its own review process.”
The Commerce Department’s review may extend beyond Nov. 30, VeriSign said.
To contact the reporter on this story: Tom Giles in San Francisco at email@example.com
To contact the editor responsible for this story: Tom Giles at firstname.lastname@example.org