NBC Internet issues profit warning

NBC Internet said late Monday that it will report lower-than-expected sales and earnings in its second quarter and throughout the rest of the year due to sluggish online advertising sales and costs associated with the revamping of its business operations. In announcing what it called "major refinements" to its business, product and branding strategy plans, NBCi (nbci) said it had $700 million in cash and NBC promotion credits at its disposal to weather some tough months and quarters ahead. Full story. -- By Larry Barrett, ZDNet Inter@ctive Investor