dcsimg
RealTime IT News

Internet Stocks On A Road To Nowhere

Followers of Internet stocks had little to get excited about Friday, as issues continued this week's trend of narrow-range trading.

Internet.com's Internet Stock Index lost 5.77, or 1.04 percent, to 550.79, the Nasdaq Composite dropped 21.44 to 2,520.79 and the Dow Jones industrial average shed 37.46 to 10,829.28.

Investors sent shares of Priceline.com Inc. (PCLN) up 4-9/16 to 138-15/16. Jamie Kiggen, Internet analyst at Donaldson Lufkin Jenrette, initiated coverage on Priceline.com with a "buy" rating. Kiggen also set a 12-month price target of $190 a share.

Kiggen estimates Priceline will rack up $253 million in sales in 1999 and $402 million in 2000.

eToys (ETYS), Thursday's hot initial public offering, lost some of its luster on Friday. Shares dropped 8-1/16 to 68-1/2 after being as high as 79-1/2.

Healtheon Corp. (HLTH) gained 4-3/8 to 105, a day after announcing it would merge with WebMD Inc., creating an Internet company that will tie doctors with patients, suppliers and insurers.

Interactive ad agency Modem Media.Poppe Tyson Inc. (MMPT), added 4-1/8 to 28-3/8. Shares benefitted from a Business Week report which cited an unnamed analyst who predicted shares would soon head back to 45 -- a mark not seen since its Feb. 5 initial public offering.

CNET Inc. (CNET) climbed 3-9/16 to 129-5/16, continuing to benefit from news that it will be added to the Nasdaq-100 next week. CNET will replace spicemaker McCormick & Co.

At Plan Inc. (APLN) rose 2 to 16 after rising as high as 18-1/2 in its first full day of trading. The company provides market research to Internet advertisers.


ALL NEW! internet.com's HotWatch a monthly e-mail subscription for $99, featuring Internet Stock Report's Steve Harmon, and his top 10 noteworthy Internet stocks for the month. Each month you will receive in-depth analysis on the top 10 Internet stocks to watch with the information you need to assess the fast-paced nature of Internet stocks. Staying on top of market changes in the Internet Stock market is what counts. For $99 per year, you receive 12 timely issues sent to you by e-mail. Don't wait, our next issue will be out before you know it with a whole new perspective on the market. Sign up today at: e-newsletters