Yahoo! Boosts Internet Stocks
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Yahoo!'s good news about its Q2 earnings gave a lift to the Internet stock sector midday Thursday, and especially helped to move along subsidiary Broadcast.com
internet.com's Internet Stock Index rose 12.21, or 2.17 percent in midday trading to 573.79, the Nasdaq Composite was up 22.52 to 2765.56, and the Dow Jones industrial average edged up 3.17 to 11190.53.
Yahoo! (YHOO), one of the Net's largest compaies, said its second-quarter revenue almost tripled, from $41.2 million last year to this year's $115.2 million. Its profits before merger charges and expenses were 11 cents a share, which beat the street's estimate of 8 cents. Its stock was up 3 7/16 to 170 1/2 in midday trading.
Yahoo! subsidiary Broadcast.com (BCST) also had somewhat happy news to report. It beat an expected loss of 9 cents a share by reporting a loss of 5 cents for Q2. That sent its stock up 2 5/8 to 131 1/2.
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