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RealTime IT News

Juniper Takes Big Hit

Juniper Networks Inc. was taking a toll on the ISDEX in midday trading Wednesday as its shares got pummeled following the announcement of a secondary offering.

Just before noon, internet.com's Internet Stock Index was off 3.54, or .73 percent, to 484.70, the Nasdaq Composite had climbed 25.94 to 2,765.29 and the Dow Jones industrial average had jumped 88.33 to 10,917.61.

Juniper (JNPR) had plunged 17 to 188. The networking company, which only went public in June, Wednesday said it would offer up to 5.7 million shares in a secondary offering. No pricing details were disclosed.

Sector leaders were mixed, with America Online Inc. (AOL) down 1-3/16 to 90-1/8, eBay Inc. (EBAY) off 3-9/16 to 122, Exodus Communications Inc. (EXDS) down 3-11/16 to 76-11/16 and DoubleClick Inc. (DCLK) off 4-1/8 to 95-3/4.

Risers included Ariba (ARBA) up 2-7/16 to 141-7/16, Broadvision (BVSN) up 2-1/2 to 102-1/16 and USWeb/CKS (USWB) had climbed 1-9/16 to 21-1/16.

Big Entertainment Inc. (BIGE) was up 1-7/8 to 19-1/4. CBS Wednesday announced it had changed the terms of its investment in the publisher of Hollywood.com.

It will now swap $105 million in advertising for a 30 percent stake. It will also get three seats on the company's board and will have warrants allowing it to buy an additional 5 percent.

PSINet Inc. (PSIX) was off 5/8 to 47-1/4. The company purchased Chile's Netline Communicaciones S.A. and Netsystem, an ISP in Argentina.

Priceline.com Inc. (PCLN) was down 1-1/16 to 67-1/16. Priceline Wednesday expanded its real estate offerings by partnering with Alliance Capital for "name-your price" mortgages.

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