Light Volume Saps Excitement from Markets
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There was little to get excited about at the midpoint of Monday's trading, as volume was extremely low due in part to the Jewish holiday. Although the indexes were treading water, several stocks were posting nice gains following positive analyst comments.
Just before noon, internet.com's Internet Stock Index was off 3.53, or .71 percent, to 491.86, the Nasdaq Composite was up .75 to 2,870.37 and the Dow Jones industrial average had fallen 13.61 to 10,790.02.
Sara Zeilstra of Warburg Dillon Read Monday raised her rating on Priceline to a "strong buy" from a "buy" and set a $125 12-month price target. Also, US Bancorp Piper Jaffray reiterated its "strong buy" on Yahoo!.
Inktomi Corp. (INKT) was off 1/2 to 130-11/16. The company Monday made a $20 million investment in InterNAP whose products are designed to more efficiently route mission-critical data over the Internet.
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