Internet Stocks Mixed Bag
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Shares of Internet companies were mixed at midday during a session that saw profit-taking combining with welcome news to split the sector.
Just before noon, internet.com's Internet Stock Index was off 2.77, or .56 percent, to 496.25, the Nasdaq Composite had slumped 1.12 to 2,683.32 and the Dow Jones industrial average was off 43.37 to 10,925.85.
CMGI Inc. (CMGI) was up 2-7/16 to 99-1/16. Investors were applauding news that Navisite, a CMGI subsidiary, plans to go public. CMGI previously announced it will give its shareholders a chance to get in on the IPOs of CMGI holdings.
Decliners included Internet providers EarthLink Networks Inc. (ELNK) down 2-9/16 to 53-7/16 and Concentric Network Corp. (CNCX) off 2-3/16 to 31-5/16. Other losers were Ariba Inc. (ARBA) down 4-5/16 to 108, and BroadVision Inc. (BVSN) down 3-13/16 to 64-1/16.
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