Online Music Arena Gets Wider
Page 1 of 1
barnesandnoble.com added music to its arsenal of e-tail offerings Wednesday, leveling its playing field with competitor Amazon.com as overall Internet stocks dipped in midday trading.
internet.com's Internet Stock Index was down midday 9.13, or 1.60 percent to 561.89, the Nasdaq Composite slid 3.76 to 2733.02 and the Dow Jones industrial average was down 27.22 to 11107.9.
The news that barnesandnoble.com (BNBN) will now offer music titles for sale edged its stock up 3/4 to 18. Amazon.com (AMZN) will likely feel the heat as a result, which sent its stock down 2 7/8 to 124. Music e-tailer CDNOW (CDNW), now a competitor of barnesandnoble.com, saw it stock up 13/16 in midday trading to 17 7/8.
Anticipation is the name of the game in the market today. Yahoo! (YHOO) is expected to release its earnings this afternoon, and hesitant investors are keeping its stock down 7 7/8 to 167 1/4. The street is also waiting for Internet IPO Musicmaker.com to go this afternoon. It is priced at $14 per share.
Introducing Internet StockTracker, the new weekly e-mail newsletter from internet.com LLC. Every Friday internet.com will deliver to your e-mail in-box the latest performance data on individual Internet companies and their competitors. Internet StockTracker will deliver to you all the statistics you need to assess the week's activity. Subscribe today and receive the Charter Rate of $127 -- a savings of $100 off the regular subscription price! e-newsletters