Demand Media up 6% After Initial Results of gTLDs Name Application Process

Demand Media DMD is trading higher on the session followings the announcement that it is the only applicant for 16 of its 26 total applications for new generic Top Level Domains. These gTLDs include .actor, .airforce, .army, and .dance. Taryn Naidu, EVP, Demand Media said: "We are very pleased with today's results. We selected our TLDs based on data-driven algorithms that leveraged our leading registrar and content platforms to determine what domains small businesses and consumers were demanding. We are excited about the market potential for each of our TLDs and look forward to the innovative new product offerings that will result from making these available to consumers." Demand Media is currently trading at $9.87, a gain of $0.57 or 6.13%.