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RealTime IT News

Earnings Flood Continues

Internet stocks finished slightly higher Thursday as earnings news continued to dominate news.

internet.com's Internet Stock Index closed up 1.45, or .26 percent, to 560.54, the Nasdaq Composite climbed 21.18 to a record 2,839.31 and the Dow Jones industrial average added 38.31 to 11,186.41.

CNET Inc. (CNET) gained 1-1/8 to 51-7/8. After the bell, the technology publisher posted a profit of 7 cents a share, 2 cents higher than analysts were expecting.

EarthLink Network Inc. (ELNK) dropped 3-7/8 to 60-1/8. On Wednesday, the company posted a loss of 21 cents a share, beating estimates by a penny. The number of subscribers in the quarter grew 125 percent.

CyberCash Inc. (CYCH) lost 2-7/16 to 10-5/16. Investors were selling the stock after the electronic payment provider warned its second-quarter loss will range from 53 to 56 cents a share. That's about 20 cents higher than analysts had forecast.

America Online Inc. (AOL) dropped 2-1/16 to 120-15/16. AOL was dropped from the top holdings of several Fidelity stock funds, including Fidelity's Magellan Fund.

Technology publisher Ziff-Davis (ZD) jumped 4-5/16 to 18-1/2. The company confirmed it is examining "strategic opportunities" for ZDNet, its Internet unit. Shares of ZDNet (ZDZ) gained 1-9/16 to 24-13/16.

Other sector leaders were mixed with Yahoo! Inc. (YHOO) losing 5 to 154-7/16, Amazon.com Inc. (AMZN) up 4-9/16 to 139-9/16 and DoubleClick Inc. (DCLK) up 6-13/16 to 101-7/8.

Recent IPO Juniper Networks Inc. (JNPR) roared up another 17-7/16 to 149-1/2.

internet.com Corp. (INTM) jumped 3-5/8 to 22-7/16. The company, which publishes this Web site, announced Thursday it is partnering with Investec Guinness Flight Global Asset Management to establish a mutual fund which tracks internet.com's Internet Stock Index.

eBay Inc. (EBAY) gained 4 to 127. On Wednesday, a California man pleaded guilty to fraud after taking about $37,000 in bids over the auction site without delivering any products.

NextCard Inc. (NXCD) was up 5/16 to 39-5/16. The Internet credit card issuer Thursday announced it had filed a copyright and trademark infringement lawsuit against Providian Financial Corp. NextCard is accusing Providian of copying one of its banner ads in an attempt to mislead Internet users into navigating to its site.

On the IPO front, broadband equipment maker Efficient Networks Inc. (EFNT) rocketed 36-1/8 to 51-1/8. The company sold 4 million shares at $15 a share Wednesday, raising $60 million.


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