Red Menace Continues To Plague 'Net Tickers
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Aug. 4, 2000 - Last week only one Internet sector posted a (razor-thin) gain. The rest lost ground, with one group turning in double-digit losses.
This week there are no sectors in the black, while eight of 13 plunged more than 10%. That's because investors continue to see too much red in the quarterly reports bombarding Wall Street this earnings season.
The flow of Q2's soon will dwindle to a trickle, but the bad aftertaste could linger through Labor Day. Next week won't be as bad - we might even see a couple of sectors gain - but don't count on anything resembling a sustained rally. In this summer of uncertainty and gloom, the market just isn't ready.
PERFORMANCE BY SECTOR Ave. 7-Day % Change Security -1.3% Search/Portals -8.6% Content/Communities -8.6% Financial Services -9.3% Consultants/Designers -9.6% Advertising/Marketing -11.6% ISPs/Access Providers -12.6% E-tailers -14.0% Performance Software -14.5% Speed/Bandwidth -14.9% Wireless -15.2% E-commerce Enablers -15.3% Internet Services -17.5% TOP 10 GAINERS 7-Day % Gain Category NSSI Network-1 34.6% Security AXNT AXENT 33.1% Security DTHK DigitalThink 17.8% Content/Communities SLTC Selectica 10.4% E-Commerce Enablers NTBK Net.B@nk 9.6% Financial Services EPRS Eprise 8.8% Performance Software SALN Salon.com 8.3% Content/Communities SGNT Sagent Technology 8.2% Performance Software JPTR Jupiter Comm. 8.0% Internet Services CSAV coolsavings.com 8.0% Advertising/Marketing TOP 10 LOSERS 7-Day % Loss Category DSLN DSL.net -50.1% ISPs/Access Providers CLRN Clarent -49.0% Performance Software RAMP Ramp Networks -46.1% Speed/Bandwidth LQID Liquid Audio -44.3% E-Commerce Enablers SNOW Snowball.com -43.1% Content/Communities NTGX net.Genesis -41.2% Performance Software VCNT Vicinity -40.3% Internet Services SONE S1 Corp. -40.2% Performance Software EXTN Extensity -40.2% Performance Software CONV Convergent Comm. -39.8% Internet Services ******************************************************************** WIRELESS PRODUCTS/SERVICES 8/2 7-Day 7-Day 1-Month YTD Market Company $Close $Change %Change %Change Cap PALM Palm 39.13 2.44 6.6% 22.5% N/A 22.1B GWRX Geoworks 12.50 -1.13 -8.3% -19.4% -23.7% 232.7 PHCM Phone.com 81.25 -8.50 -9.5% 13.6% -28.4% 6.4B PUMA Puma Tech. 20.00 -2.19 -9.9% -22.9% -68.7% 838.5 IIIM i3 Mobile 11.13 -1.31 -10.6% -40.5% N/A 252.6 DLK Datalink.net 19.13 -3.37 -15.0% 43.7% 259.3% 267.9 AETH Aether Systems 152.28 -28.84 -15.9% -23.2% 117.2% 5.8B MCOM Metricom 32.75 -6.38 -16.3% 15.2% -57.4% 1.0B IWAV interWAVE 14.25 -3.13