RealTime IT News

Internet Stocks Continue Recovery

Internet stocks rallied across the board Wednesday, wiping away losses earlier in the week buoyed by strong earnings expectations.

Internet.com's Internet Stock Index climbed 52.34, or 9.71 percent, to 591.35, the Nasdaq Composite jumped 79.56 to 2,489.30 and the Dow Jones industrial average added 132.87 to 10,581.42

Famous names posting gains included America Online Inc. (AOL), up 12-13/16 to 141-1/2. The company was one of five named by the Internet Corp. for Assigned Names and Numbers to participate in a trial of the new system that will lead to competition for domain registrations.

Current domain registrar Network Solutions (NSOL) was also picked to participate, leading its shares to soar 32 to 92

Real Networks Inc. (RNWK) gained 9-1/4 to 190-5/16 after announcing first-quarter revenues almost doubled thanks to higher software licensing fees. The company reported a loss of 2 cents a share, which beat analysts' expectations of 3 cents. The company also announced a 2-for-1 stock split effective May 10.

CNET Inc. (CNET) leaped 14-1/4 to 119-3/4 ahead of its first-quarter earnings release. Analysts project the company will report a 3-cent profit compared to a 19-cent loss a year ago.

Online brokers were once again strong gainers. Charles Schwab & Co. Inc. (SCH) added 8-1/4 to 115, Ameritrade Holdings Corp. (AMTD) jumped 17-11/16 to 128-13/16 and National Discount Brokers Group (NDB) climbed 4-13/16 to 60-1/16.

K-tel international Inc. (KTEL) added 3/4 to 9 after announcing it had added online auction capabilities to its Web site.

Others repairing damage done earlier in the week included DoubleClick (DCLK) up 13-1/2 to 141-1/16, Inktomi Corp. (INKT) up 10-1/2 to 125-1/2, @Home Corp. (ATHM) up 9-3/16 to 141-15/16 and Lycos Inc. (LCOS) soared 27-5/8 to 101-1/2.


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