RealTime IT News

Stocks Exit Week on High Note

Internet stocks finished the week in the plus column Friday ahead of the long holiday weekend and on the heels of the latest quarterly results from one of the sector's leaders. Investors also sent two leading market indices into record territory.

internet.com's Internet Stock Index ended up 9.29, or 1.67 percent, to 564.95, the Nasdaq Composite closed up 34.84 to a record 2,741.02 and the Dow Jones industrial average gained 72.82 to 11139.24, also a new milestone.

Real Networks Inc. (RNWK) jumped 12-1/16 to 89-15/16. Microsoft said Thursday it will add support for the latest version of Real Audio in its set-top boxes. While WebTV users will be able to receive G2 audio, they will not be able to view Real video.

As part of the pact, Real will develop a new audio player for Microsoft's Windows CE operating system for non-PC devices.

Yahoo! Inc. (YHOO) added 7/8 to 178-1/8 in advance of its earnings report next week. Other leaders ended mixed with America Online Inc. (AOL) up 3-1/8 to 115-1/4, Amazon.com Inc. (AMZN) up 1-11/16 to 124-1/16 and eBay Inc. (EBAY) lost 6-1/32 to 143-5/8. Earlier this week, the online auctioneer had another series of short outages.

Clarent Corp. (CLRN) soared 13-3/16 to 38-11/16. The company, which sells Internet phone systems to telecommunications companies, jumped 70 percent on its first day of trading Thursday.

Recent IPO Ariba Inc. (ARBA) rocketed 14 to 119.

Internet auctioneer Onsale Inc. (ONSL) jumped 6-5/8 to 25-1/4 on rumors that it may be acquired by Amazon.com.

GoTo.com Inc. (GOTO) vaulted 14 to 50-1/2 after signing a deal with Netscape Communications Thursday that will put it on that company's Netcenter portal.

Infoseek Corp. (SEEK) added 5-1/2 to 55-7/8 following renewed reports that Walt Disney Co. may acquire the rest of the portal it doesn't own.

24/7 Media Inc. (TFSM) climbed 3-1/16 to 40-5/8. The company announced it has booked $13 million in direct marketing packages since launching the new service in April.

Shares of AskJeeves Inc. (ASKJ) jumped another 7-1/16 to 72 on their second day of trading. The search engine sold 3 million shares at $14 each on Wednesday, raising $42 million.

Internet credit card issuer NextCard Inc. (NXCD) moved up 3-15/16 to 37 after First Union Capital Markets initiated coverage with a "buy" rating.



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