Net Stocks Regain Confidence
Page 1 of 2
Internet stocks rocketed higher on Thursday following a slew of analyst upgrades and i3 Mobile's splash into the public marketplace.
internet.com's Internet Stock Index was up 32.96, or 3.84 percent, to 890.50, the Nasdaq composite rose 98.34 to 4,267.56, and the Dow Jones industrial average gained 80.35 to 11,114.27.
WebTrends Corp. (WEBT) was up 1-7/16 to 67-11/16. Merrill Lynch initiated coverage with a "near-term accumulate" and "long-term buy" rating. In addition, internet.com analyst Tom Taulli featured WebTrends in his Morning Report.
Salomon Smith Barney initiated coverage on Priceline.com (PCLN) with a "buy" rating and $130 price target and Amazon.com (AMZN) with a "buy," $130 price target. Shares of PCLN finished up 5-3/16 to 77-1/8 and AMZN shares gained 2-1/16 to 64-1/4.
Jupiter Communications (JPTR) jumped 10-9/16 to 32-13/16. The online research firm announced that it expects revenues of $16.5 million for its first quarter, representing a 175 percent increase from the same period a year ago. Jupiter attributes the growth to increases in contract value and strong revenues from its conferences.
Subscribe to Internet StockTracker,a weekly e-mail new