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RealTime IT News

Internet Stocks Stage Broad Rally

One day after one of the largest one-day drops ever, Internet stocks Wednesday staged a strong rebound.

Internet.com's Internet Stock Index climbed 38.84, or 7.87 percent, to 539.01, the Nasdaq Composite climbed 64.04 to 2,408.65 and the Dow Jones industrial average climbed 8.02 to 10,448.55.

Streaming media company Real Networks Inc. (RNWK) soared 52-7/16 to 181-1/16 after shedding 25 percent on Monday.

Online brokers once again posted strong gains. E*Trade Group Inc. (EGRP) jumped 16 to to 89-13/16 after reporting a 12-cent loss for its fiscal second quarter. That led the sector high, sending Ameritrade (AMTD) up 23-1/4 to 111-1/8, JB Oxford Holdings (JBOH) climbed 2-7/16 to 15-3/8.

Internet ad firm DoubleClick Inc. (DCLK) soared 24-3/16 to 128-3/16 after Michael Parekh of Goldman Sachs raised his rating to a "strong buy" from "market perform."

America Online Inc. (AOL) climbed 12-5/8 to 128-1/2 after Keith Benjamin of BancBoston Robertson Stephens reiterated his "strong buy" rating on the company.

Search engine designer Inktomi Corp. (INKT) soared 26 to 115 after Parekh put the company on his recommended list.

Perfumania Inc. (PRFM) jumped 1-7/16 to 4-1/4 after announcing plans to take its online subsidiary public.



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