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RealTime IT News

Internet Stocks Rise In Advance of Holiday

Internet issues were slightly higher at midday amid lower-than-usual volume on Wall Street as many were already taking advantage of the three-day weekend.

Just after midday, internet.com's Internet Stock Index was up 9.58, or 1.95 percent, to 499.91, the Dow Jones industrial average had climbed 72.13 to 10,539.06 and the Nasdaq Composite was up 23.79 to 2,442.94.

This week's Internet IPOs continued to perform well Friday. Latin American online network Starmedia Network Inc. (STRM) had jumped 13-1/2 to 59 and shares of online broker DLJdirect (DIR) were up another 4-1/16 to 42-1/16.

Shares of merger partners @Home Corp. and Excite Inc. were both higher at midday. @Home (ATHM) was up 2-7/16 to 124-3/8 and Excite (XCIT) had climbed 3-5/8 to 129-5/8.

Shareholders of both companies are meeting Friday to approve Excite's merger with @Home.

Yahoo! Inc. (YHOO) was up 6 to 139-3/8 and Geocities (GCTY) was up 4-3/8 to 94-3/8.

Yahoo! announced Friday it had completed its acquisition of Geocities and plans to integrate Geocities' Web publishing tools with its own community-building tools.

Shares of Internet advertising company Doubleclick had jumped 7-1/8 to 92-1/8, regaining ground lost earlier this week.


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