Amazon, VA Linux Stir Up Mixed Net Sector
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A strong move upward from Amazon.com Inc. and a stellar debut from VA Linux were giving investors something to cheer about in midday trading Thursday, although the Internet sector as a whole was suffering through profit-taking as several high risers of late were taking a breather.
After 12:30 p.m. Eastern, internet.com's Internet Stock Index was off 0.45, or 0.06 percent, to 796.16, the Nasdaq Composite was off 36.02 to 3,550.06 and the Dow Jones industrial average had gained 38.53 to 11,106.65.
Linux also continued to grab headlines ahead VA Linux Systems' (LNUX) was soaring shortly after its debut, gaining 228-1/2 to 258-1/2. Shares were priced at $30 late Wednesday, ahead of the initial range of $11 to $13. Moving on the anticipation was Corel Corp. (CORL) soaring 12-1/4 to 40-9/16 and Red Hat (RHAT) had gained 2-1/4 to 273.
Taking a pause from recent run-ups were Exodus Communications (EXDS) down 10-9/16 to 155, GoTo.com (GOTO) off 5-3/16 to 87, Infospace (INSP) down 16-11/16 to 153, eToys Inc. (ETYS) losing 4-7/8 to 48-1/4, Juniper Networks (JNPR) off 16-1/8 to 334 and Verio Inc. (VRIO) off 4-1/2 to 49-1/8.