Stocks End Day on High Note
Page 1 of 1
Stocks rocketed today, as the government reported the non-farm payroll numbers, which were better than expected.
internet.com's Internet Stock Index climbed 26.95, or 5.68 percent, to 476.18, the Nasdaq Composite surged 103.17 to 2,837.41 and the Dow Jones industrial average rose 229.54 to 11,072.75.
Internet stocks rose across the board, with America Online Inc. (AOL) up 5-11/16 to 96-15/16, CMGI Inc. (CMGI) gaining 6-1/8 to 86-1/4, Excite@Home (ATHM) up 3-7/8 to 40-15/16 and eBay Inc. (EBAY) up 12-1/16 to 133-1/2.
But not every Net stock rose. Juniper Networks (JNPR) fell 5-3/8 to 193-1/4. Shares dropped earlier this week after the company announced plans for a secondary offering, just months after going public.
Another loser was National Discount Broker Group Inc. (NDB), plunging 5-1/2 to 25-3/4. Late Thursday the company announced fiscal first-quarter earnings would come in below expectations. NDB expects revenues to come in about 4 percent below analysts' forecasts of $55 million for the quarter ended Aug. 31. That means NDB's earnings will range from a profit of 2 cents a share to a 1-cent loss. Analysts had forecast a 21-cent profit.
On the IPO front, NaviSite announced the terms of its upcoming IPO. The company is an application service provider. The price range is $10-$12 and the number of shares are 5.5 million. The lead underwriter is BancBoston Robertson Stephens.
Also, Goracing.com announced the terms of its upcoming IPO. The company plans to sell 6.25 million shares between $7-$9. The lead underwriter is Banc of America Securities.
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