Earnings Flood Continues
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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.
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.
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.
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.
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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