RealTime IT News

Another Week, Another Drubbing for 'Net Stocks

Last week, the Speed/Bandwidth sector was the worst-performing of our 13 Internet groups, losing 8.8%. This week, Speed/Bandwidth bounces back to lead all 'Net sectors - and still finishes in the red. That's how the month has gone for Internet stocks. For the second consecutive week, all sectors lose ground, despite Wednesday's rally. How long can this go on? I hate to say it, but it could be for quite awhile. Investors are still flinching over earnings warnings, while high-profile flameouts such as Amazon.com and CMGI continue to provoke investor anxiety and despair. One thing is for sure: Fall rally or no fall rally, it's now clear that the majority of Internet stocks will finish the year down. (Of course, some won't even finish the year.) Roughly 80% of the stocks that have been trading all year are down at least 30%, and only 30 of 293, or 10%, are up. Four of our sectors have no year-to-date gainers, while another four have only one each. If an autumn ascent is to begin in September, which I've been expecting, it had better start soon. Today, the first official day of fall, would be a swell time, but it's not likely this bearish market will turn bullish before the Q3 numbers start rolling in.

*Market Cap figure is in millions unless otherwise noted.

                          Ave. 7-Day
                           % Change

Speed/Bandwidth              -0.2%
Security                     -2.4%
Wireless                     -3.2%
E-commerce Enablers          -4.4%
Search/Portals               -4.4%
Financial Services           -5.2%
Advertising/Marketing        -6.2% 
Internet Services            -6.4%
Content/Communities          -7.5%
E-tailers                    -7.6%
Performance Software         -7.9% 
Consultants/Designers        -8.1%
ISPs/Access Providers        -9.7%  

TOP 10 GAINERS              7-Day % Gain         Category

HAND   Handspring             38.7%           Wireless
BNBN   barnesandnoble.com     31.4%           E-tailers
VLCT   ValiCert               28.5%           Security
COBT   Cobalt Networks        26.6%           Performance Software
MNDO   Mind C.T.I.            25.6%           Performance Software
IWOV   Interwoven             24.5%           Performance Software
APLN   @Plan.Inc              23.4%           Advertising/Marketing
EBAY   eBay                   22.5%           E-tailers
IMNY   I-Many                 22.3%           E-Commerce Enablers
BRNC   Braun Consulting       21.1%           E-Commerce Enablers

TOP 10 LOSERS               7-Day % Loss          Category

ALLR   Allaire               -54.0%           Performance Software
USIT   U.S. Interactive      -51.1%           E-Commerce Enablers
MPLX   Mediaplex             -48.1%           Advertising/Marketing
NPLI   Netpliance            -39.1%           ISPs/Access Providers
MYPT   MyPoints.com          -38.8%           Advertising/Marketing
QKKA   Quokka Sports         -35.7%           Content/Communities
ZIPL   Ziplink               -33.3%           ISPs/Access Providers
PSIX   PSINet                -33.1%           ISPs/Access Providers
INTW   InterWorld            -30.0%           E-Commerce Enablers
BWAY   Breakaway Solutions   -28.8%           Internet Services 


                             WIRELESS PRODUCTS/SERVICES

                       9/20   7-Day   7-Day  1-Month  YTD    Market
       Company        $Close $Change %Change %Change          Cap
HAND  Handspring      51.56   14.38   38.7%   51.1%    N/A     6.5B
PHCM  Phone.com      101.38   13.25   15.0%   18.6%  -11.5%    8.4B
PALM  Palm            54.50    6.00   12.4%   43.7%    N/A    30.8B
SVNX  724 Solutions   51.00    3.88    8.2%   46.8%    N/A     1.9B
VYYO  Vyyo            31.38   -0.25   -0.8%   30.7%    N/A     1.2B
AETH  Aether Systems 129.88   -6.00   -4.4%