Internet stocks fell past their mid-day levels as investors pocketed
profits. Still, B2B stocks had a strong showing. Hurting momentum was news
that personal and government spending rose faster than expected in the
internet.com's Internet Stock Index lost 7.79, or 0.79 percent, to 975.83,
the Nasdaq Composite was down 27.16 to 4590.49 and the Dow Jones industrial
average plunged 230.51 to 9862.12.
News of the governement spending more money than expected may have boosted
shares of National Information
Consortium (EGOV). The B2G market leader matured 1/8 to 50. Reporter@Large-Luke Fronefield recently featured EGOV.
Commerce One (CMRC)
jumped 34-1/16 to 213-1/16.
E*Offering analyst, Patrick Mason initiated coverage with a "buy" rating.
"Through its BuySite and MarketSite products, Commerce One provides
business-to-business (B2B) e-commerce solutions that link buyers and
suppliers together over the Internet via their Global Trading Web, enabling
greater pricing and operational efficiencies, which in turn lead to
increased revenue opportunities and decreased costs for all trading
partners" wrote Mason in a note to viewers.
Ariba Inc. (ARBA)
rose 11-5/16 to 264-1/8, Broadvision
also gained 11-5/16 to 240-1/2, Broadcom
was up 4-1/8 to 191 and Exodus
added 1-13/16 to 138-1/8.
Network Solutions Inc. (NSOL)
dropped 23-7/16 to 308-3/4, CMGI Inc. (CMGI)
was off 1-7/8 to 117-1/2 and eBay Inc. (EBAY)
fell 13-1/4 to 150-3/4.
Doubleclick Inc. (DCLK)
rose 9-7/8 to 91-13/16. Salomon Smith Barney Friday urged investors to use
the company's recent price weakness as an opportunity to increase their
America Online Inc. (AOL)
slipped 3/8 to 59-5/8 on news it faces a class-action lawsuit over the
latest version of its access software. A group of Washington state residents
claim the online service knowingly released its 5.0 software without warning
that the installation would change a computer's dial-up networking
properties and TCP/IP settings.
Priceline.com Inc. (PCLN)
was up 3/16 to 56-15/16. The company Friday added gasoline to its expanding
line of products.
Excite@Home Corp. (ATHM)
lost 2-7/16 to 34. The company is reportedly planning to add Digital
Subscriber Line connectivity to its high-speed access arsenal.