Internets Escape Brunt of Downward Spiral
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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.
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.
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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