dcsimg
RealTime IT News

Economic Reports, Fed Comments Bring Down Stocks

Renewed strength in U.S. factory orders combined with cautionary comments from Federal Reserve governor Edward Kelly put pressure on markets throughout the day causing all major indices to end the day in the red..

internet.com's Internet Stock Index ended off 3.99, or .83 percent, to 474.64, the Nasdaq Composite lost 16.52 to 2,734.28 and the Dow Jones industrial average dropped 99.10 to 10,838.78.

As for the Net leaders, Amazon.com (AMZN) , whose shares split 2-for-1 after Wednesday's close, was closed up 21/32 to 60-3/16, America Online Inc. (AOL) increased 1/4 to 91-1/8, Ariba (ARBA) dipped 3 to 131, Yahoo! (YHOO) dropped 1-3/4 to 141-9/16 and eBay Inc. (EBAY) fell 1/2 to 121-7/16.

After plunging yesterday, Juniper Networks (JNPR) roared 18-3/8 to 198-5/8 Thursday. Yesterday, shares faultered after the company announced a secondary offering.

About.com (BOUT) gained 3 to 35-1/2. Bear Stearns raised its rating on the stock from "attractive" to "buy."

Beyond.com Corp. (BYND) climbed 7/16 to 17-1/8. The company won a government contract which could be worth up to $30 million to supply Corel Corp. software to the U.S. Department of Defense. Corel Corp. (CORL) was up 7/16 to 5-15/16.

iVillage Inc.(IVIL) slumped 1-7/16 to 34-1/2. The company late Wednesday purchased privately-held FamilyPoint.com for about $26 million in cash and stock.

Priceline.com Inc. (PCLN) closed off 1-9/16 to 64-1/32. Priceline on Thursday expanded its "name-your-price" new car shopping service.

E-Loan Inc. (EELN) was off 2 to 31-1/16 after falling as low as 29-9/16 earlier in the session. Sutro & Co. Thursday initiated coverage with a "hold" rating.

The research firm Jupiter Networks set the terms of its IPO today, with the price range at $15-$17. The lead underwriter is Donaldson, Lufkin & Jenrette.


ALL NEW! internet.com's HotWatch a monthly e-mail subscription for $99, featuring Internet Stock Report's top 10 noteworthy Internet stocks for the month. Each month you will receive in-depth analysis on the top 10 Internet stocks to watch with the information you need to assess the fast-paced nature of Internet stocks. Staying on top of market changes in the Internet Stock market is what counts. For $99 per year, you receive 12 timely issues sent to you by e-mail. Don't wait, our next issue will be out before you know it with a whole new perspective on the market. Sign up today at: e-newsletters