RealTime IT News

Internets Pull Away From Techs

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.

Modem Media Poppe Tyson (MMPT) soared 3 to 23-1/2. The company Thursday won an $11 million contract from General Electric Co. Modem Media will provide Internet and intranet planning and marketing services to several GE units.

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."

BroadVision Inc. (BVSN) was unchanged at 91. Kaufman Brothers on Thursday downgraded the stock to "accumulate" from "buy."

Priceline.com Inc. (PCLN) lost 2-11/16 to 67-5/16. On Thursday, Priceline priced shares of its secondary offering. The company plans to sell an additional 4.5 million shares at $67.

Healtheon (HLTH) surged 4-1/16 to 34-1/8. The company reported a 25 cent loss. First Call forecasted a 22-cent loss.

Mortgage.com (MDCM) gained 7/32 to 7-3/8 in its first full day of trading. The company went public at 8 on Wednesday and fell 28 cents.

As for yesterday's big IPO, Redhat Inc. (RHAT) , it continued its winning ways. The stock was up 20-9/16 to 72-5/8.

Internet commerce software developer Interworld (INTW) had its IPO today. After debuting at 17-3/4, shares lost 1/8 to 17-5/8. The company sold 3 million shares at $15.

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