Markets Fail in Recovery Attempt
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Internet stocks were once again caught in a slump along with all the broader indices in midday trading Wednesday as profit-taking continued to rule. However, there were several standouts that had posted double-digit percentage gains.
Just before noon, internet.com's Internet Stock Index was off 2.37, or .42 percent, to 564.68, the Nasdaq Composite had fallen 23.33 to 2,849.10 and the Dow Jones industrial average had shed 60.79 to 10,356.27.
Most of the leaders were lower, including Ariba Inc. (ARBA) off 4-3/8 to 173, Amazon.com Inc. (AMZN) down 15/16 to 84, Broadvision Inc. (BVSN) had tumbled 8-3/16 to 168-3/4 and Real Networks Inc. (RNWK) fell 2-5/16 to 105.
Elsewhere in the e-finance sector, DLJdirect (DIR) was unchaged at 15-5/16, National Discount Brokers Group Inc. (NDB) off 1/8 to 24-7/8 and Southwest Securities (SWS), parent of Mydiscountbroker.com had fallen 3/4 to 23-1/16.
Hoover's (HOOV) had climbed 1-3/8 to 12-3/16 after the company posted a lower-than-expected loss. Hoover's lost $3.3 million, or 29 cents a share, compared to an 18-cent loss in the year-ago period. Analysts had forecast a 39-cent loss.
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