Tags: VeriSign | Shares | Soar | .Com

VeriSign Shares Soar on Expectation It Will Keep .Com Registry

Thursday, 01 Nov 2012 03:16 PM

Shares of VeriSign Inc. surged Thursday after the company said 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 in a statement.

The stock was up 14 percent at $42.19 during the last hour of regular Nasdaq trading.

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.

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