Internets Pull Away From Techs
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Despite a fall in the Nasdaq, Internet shares were able to pull-off gains by the end of trading Thursday.
internet.com's Internet Stock Index jumped 7.49, or 1.77 percent, to 430.67, the Nasdaq Composite was down 15.92 to 2,549.06 and the Dow Jones industrial average was up 3.17 to 10,790.97.
America Online Inc. (AOL) climbed 5/8 to 93. On Wednesday, the company told analysts it is on track to meet earnings estimates for the current quarter. AOL also signed a deal with Novell Inc. to put its Instant Messenger software into Novell's directory software.
All of the other sector leaders were higher as well, with Amazon.com Inc. (AMZN) up 13/16 to 91-3/4, Ariba Inc. (ARBA) gaining 7-1/2 to 115-3/8, Excite@Home Corp. (ATHM) jumping 3-13/16 to 39-1/4, eBay Inc. (EBAY) adding 3-11/16 to 91-3/8, Verisign Inc. (VRSN) jumping 5-5/8 to 78-3/4 and Yahoo! Inc. moving up 5/16 to 128-3/8.
24/7 Media Inc. (TFSM) had gained 2-1/4 to 29 after Merrill Lynch upgraded the stock to near-term "buy" from near-term "accumulate."
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