Internet Stocks Climb in Turbulent Market
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After starting the day in a bullish mood, Internet stocks gained Tuesday while other indices fell, with financial site Edgar Online gaining 95 percent on news of an expansion.
internet.com's Internet Stock Index closed up 6.10, or 1.08 percent at 571.05, while the Nasdaq Composite ended the day down 4.56 at 2736.46 and the Dow Jones industrial average fell 4.12 to close at 11135.12.
Leading the Internet sector was Edgar Online (EDGR), a site that provides U.S. Securities and Exchange Commission filing information available directly to companies and via Internet subscriptions. The stock zoomed up 95 percent from 10 3/8 to close at 19 1/16 on news was that the company plans to add services such as real estate lease information to its current financial focus.
America Online (AOL) made a number of deals Tuesday, driving its stock up 5 15/16 to 121 3/16. The site signed a $89 million content deal agreement with drkoop.com (KOOP), which sent its stock up 15 7/8 to close at 39 1/2.
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