eBay Plunges After Tech Giants Form Competitor
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Shares of online auction leader eBay Inc. were off significantly in midday trading Friday, taking it on the chin after a group of technology leaders announced they were forming a competing auction network.
Just after noon, internet.com's Internet Stock Index had risen 3.95, or .80 percent, to 497.68, the Nasdaq Composite had jumped 38.58 to 2,845.30 and the Dow Jones industrial average had climbed 83.90 to 10,821.36.
Microsoft was up 1-13/16 to 95-13/16, Excite@Home had climbed 1/2 to 37-7/8, Lycos was up 1-3/8 to 44-3/8 and Dell had added 1-1/8 to 47-7/8.
Other sector leaders were doing nicely Friday as investors were coming back into the sector on this "triple-witching" Friday when options and futures contracts expire.
Ariba (ARBA) up 8-3/4 to 131-5/8, Broadvision Corp. (BVSN) had climbed 7-3/8 to 113-1/4, DoubleClick Inc. (DCLK) had gained 5-5/8 to 114-1/4, Exodus Communications (EXDS) was up 3-3/8 to 75-5/8, Priceline.com Inc. (PCLN) had added 2 to 59-1/8 and Yahoo! Inc. (YHOO) had moved up 15/16 to 164-3/8.
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