RealTime IT News

Stocks End Day on High Note

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.

Amazon.com (AMZN) rose 2-3/8 to 62-7/16. Jimmy Wright, the company's VP of logistics, retired today. There are concerns that there are problems with Amazon.com's warehouse expansion.

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.

Also moving higher were Broadcom Corp. (BRCM) , up 5-3/4 to 130-9/16, Inktomi (INKT) climbing 7-29/32 to 115-3/4, Ariba (ARBA) gaining 6-1/8 to 137-1/8, Verisign (VRSN) up 5-13/16 to 109-1/4, DoubleC lick Inc. (DCLK) climbing 4-3/8 to 97-7/8, Real Networks Inc. (RNWK) gained 7-13/16 to 85-15/16 and Yahoo! Inc. (YHOO) climbed 13-7/16 to 155.

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.


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