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RealTime IT News

Tumultuous Week Ends on a High Note

Internet investors continued buying up shares late Friday and helped the tech-heavy ISDEX and Nasdaq recover from a three day plunge. Among the leading sectors were business-to-business and infrastructure.

internet.com's Internet Stock Index rose 52.41, or 6.67 percent, to 827.88, the Nasdaq Composite jumped 155.49 to 3882.62 and the Dow Jones industrial average gained 269.30 to 11522.56.

Digital River Inc. (DRIV) rose 4-3/8 to 33-1/4. The e-commerce outsourcing company announced it will be the exclusive provider of over 100,000 downloadable software titles throughout Fingerhut Companies' sites thehut.com and andysgarage.com.

Chemdex Corp. (CMDX) gained 7 to 98. Deutsche Banc Alex. Brown initiated coverage of CMDX with a "buy" rating and $128 price target.

CMGI Inc. (CMGI) climbed 24-3/4 to 275, Doubleclick Inc. (DCLK) surged 37-7/16 to 236-7/16, Infospace Inc. (INSP) jumped 10-1/16 to 99-3/16 and Inktomi Corp. (INKT) matured 8-7/8 to 89-3/8.

Network Solutions Inc. (NSOL) added 4-13/16 to 202-3/4, Real Networks Inc. (RNWK) was up 18-7/8 to 132-1/16, Verisign Inc. (VRSN) rose 14-45/64 to 169-53/64 and Yahoo! Inc. (YHOO) recovered 39-1/16 to 407-1/4.

Winners in the B2B space included Ariba Inc. (ARBA) up 19-1/16 to 169-3/16, Purchase Pro (PPRO) +7-1/2 to 123-1/2 and Broadvision Inc. (BVSN) was up 19-3/32 to 148-11/32.

Wal-Mart Stores Inc. (WMT) surged 4-13/16 higher to 68-1/2. The retailer is teaming up with Accel Partners to form a separate company that will spearhead the company's online efforts.

Splitrock Services Inc. (SPLT) rose 4-13/16 to 26-15/16. The data networking company was purchased by McLeod USA Friday for $2.1 billion in stock.

Amazon.com Inc. (AMZN) gained 4 to 69-9/16. US Bancorp Piper Jaffray Friday initiated coverage at a "buy," setting an $80 price target.

Enjoy your weekend.


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