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RealTime IT News

Internets Escape Brunt of Downward Spiral

The broader markets ended the day deep in the red Tuesday, primarily on the news of a worse-than-expected trade deficit. However, several Internet stocks managed to escape with gains.

internet.com's Internet Stock Index fell 4.27, or .86 percent, to 492.72, the Nasdaq Composite closed off 64.80 to 2,821.35 and the Dow Jones industrial average ended off 230.81 to 10,593.09.

Priceline.com (PCLN) climbed 2-21/32 to 66-27/32. The company announced an agreement with WebHouse Club to allow consumers to "name their price" for grocery shopping in the New York area.

Critical Path (CPTH) confirmed that there was a security hole in its email systems - but the company resolved them within 24 hours. The stock lost 3/4 to 38.

Vignette (VIGN) rose 2-9/16 to 75-9/16. The company announced a deal to integrate its technology with IBM's e-business software.

America Online Inc. (AOL) gained 1-11/16 to 84-1/2. The company Tuesday announced its AOL and CompuServe brands were adding members at a record-pace during the quarter.

eBay Inc. (EBAY) had jumped 4-5/8 to 140-5/8. The company Tuesday announced the creation of Great Collections, a site dedicated to collectibles, art and antiques.

Juniper Networks (JNPR) was up 4 to 187, Verisign Inc. (VR SN) fell 7-7/8 to 108-1/8, RealNetworks (RNWK) ended down 4-11/16 to 96-1/8, Lycos (LCOS) added 2-3/8 to 46-1/8 and Yahoo! Inc. (YHOO) closed up 1-3/16 to 169-9/16.

Finally, About.com Inc. (BOUT) had jumped 4-1/4 to 39-1/4 after E*Offering reiterated its strong buy on the stock.

On the IPO front, several companies announced their terms. E.Piphany Inc., which develops online marketing technology, increased its price range from $9-$11 to $14-$16. The lead underwriter is Credit Suisse First Boston and the proposed ticker symbol is EPNY.

Kana Communications raised its price range from $11-$13 to $14-$15. The company develops advanced technology for online customer service. The lead underwriter is Goldman Sachs and the proposed ticker symbol is KANA.


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