Synchronized Sinking: Once Again, All 'Net Sectors Fall
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Two weeks ago, after a promising start to September, all 13 Internet sectors lost ground. This dismal performance was repeated last week.
And this week? That's right, it's a (red) hat trick, as 'Net groups are shut out for the third consecutive time.
Here's hoping this is the darkest before the dawn, but my gut feeling is that continued investor anxiety over Q3 earnings will hold down 'Net tickers at least until the real numbers start rolling in.
Maybe after that the market will get caught up in the annual fourth-quarter, holiday spending excitement. Last year's Q4 saw a run-up that extended across most sectors, with the glaring exception being the group expected to benefit most from seasonal shopping frenzy - e-tailers. Shares of online merchants were hammered last fall, despite a continuing stream of news stories and research reports touting record online shopping statistics.
* Market Cap figure is in millions unless otherwise noted.
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PERFORMANCE BY SECTOR Ave. 7-Day % Change Wireless -3.8% Performance Software -6.1% E-commerce Enablers -6.5% Security -7.9% Speed/Bandwidth -8.2% E-tailers -9.8% Advertising/Marketing -11.0% Financial Services -11.6% Content/Communities -12.2% Internet Services -12.2% Consultants/Designers -12.7% ISPs/Access Providers -12.8% Search/Portals -14.9% TOP 10 GAINERS 7-Day % Gain Category CKCM Click Commerce 39.20% E-Commerce Enablers NTGX net.Genesis 38.20% Performance Software OTGS OTG Software 36.20% Performance Software IMNY I-Many 34.90% E-Commerce Enablers HAND Handspring 30.50% Wireless DTEC Delano Tech. 27.70% Performance Software RSNT Resonate 27.30% Speed/Bandwidth SSSW SilverStream 27.30% Performance Software WQNI WorldQuest 26.70% Internet Services INSW InsWeb 22.60% E-tailers TOP 10 LOSERS 7-Day % Loss Category INTW InterWorld -62.50% E-Commerce Enablers PCLN priceline.com -54.10% E-tailers EPRS Eprise -44.70% Performance Software SQSW Sequoia Software -42.60% Performance Software LUMT Luminant Worldwide -42.40% Consultants/Designers ARTD Artistdirect -42.00% Content/Communities AWEB Autoweb.com -39.70% E-Commerce Enablers IPIX Internet Pictures -34.90% Performance Software IVIL iVillage -34.70% Content/Communities BWAY Breakaway Sol. -34.50% Internet Services ******************************************************************** WIRELESS PRODUCTS/SERVICES 9/27 7-Day 7-Day 1-Month YTD Market Company $Close $Change %Change %Change Cap HAND Handspring 67.31 15.75 30.5% 95.8% N/A 8.4B PHCM Phone.com 120.38 19.00 18.7% 39.1% 6.9% 10.0B GOAM GoAmerica 8.25 1.06 14.8% -27.9% N/A 423.9 IIIM i3 Mobile 6.50 0.06 1.0% -26