ISDEX Calm As Ratings, Earnings Control Sector
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Internet stocks were mixed at midday Tuesday with several wide price swings in both directions. However, a balancing effect was prevailing, leading the ISDEX to post a slight gain. Investors remained focused on earnings as a number of companies are set to report this week.
At noon. Eastern, internet.com's Internet Stock Index was up 1.04, or 0.12 percent, to 853.20, the Nasdaq Composite was up 1.61 to 4,097.69 and the Dow Jones industrial average had tumbled 18.93 to 10,989.24.
Leaders were mixed, with Broadvision Inc. (BVSN) up 4-1/4 to 153-1/4, Checkpoint Software Technology (CHKP) up 12-19/32 to 268-3/16, Doubleclick Inc. (DCLK) rising 1-5/8 to 105-1/2 and Infospace.com Inc. (INSP) jumping 8-7/16 to 133-5/8.
Separately, CS First Boston initiated coverage on Doubleclick with a "buy" rating and a $175 target.
Strong ISDEX gainers included S1 Corp. (SONE), up 7-1/2 to 100-1/2. Lehman Brothers initiated coverage on the online financial services company with a "buy," setting a $140 target.
Engage Technologies Inc. (ENGA) had vaulted 8-3/16 to 118-7/16. CS First Boston started coverage with a "buy," setting a $170 price target.