ISDEX Jumps Almost 5 Percent in Standout Session
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Internet stocks soared past midday trading levels following another day of stellar IPOs, news of analyst upgrades and stock splits from several sector leaders.
internet.com's Internet Stock Index (ISDEX) rose 47.78, or 4.78 percent, to 1,048.23, the Nasdaq Composite jumped 159.81 to 4914.32 and the Dow Jones industrial average gained 202.28 to 10367.20.
The other IPO winner was AsiaInfo Holdings (ASIA). Shares rocketed 75-3/4 higher, or 315.63 percent, to 99-3/4. The company priced 4 million shares at $24 per share through lead underwriter Morgan Stanley Dean Witter.
Global Crossing Ltd. (GBLX) added 2 to 56-3/8. The provider of voice and data communications Friday named Leo Hindery its new chief executive. Hindery replaces Bob Annunziata who will remain on the company's board.
Healtheon/WebMD Corp. (HLTH) lost 6-3/8 to 52-1/8. The company reported a fourth-quarter loss of $1.98 a share compared to a 34-cent loss a year ago.
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