Internets Go on Roller Coaster Ride
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Internet investors were taken for a wild ride Thursday as U.S. markets seesawed in and out of positive territory before managing to end in the black.
internet.com's Internet Stock Index was up 3.37, or .62 percent, to 548.63, the Nasdaq Composite lost 0.35 to 2,800.92 and the Dow Jones industrial average closed up 39.57 to 10,271.73.
Priceline.com Inc. (PCLN) had slipped 2-1/4 to 70. The company late Wednesday announced it had sued Microsoft Corp. (MSFT) . Priceline is accusing Microsoft of using confidential information it shared during partnership negotiations to start its own competing service on Expedia.
On the IPO front, Igo Corp. (IGOC) rose 2-1/16 to 14-1/16. The company sells hard-to-find computer and cell phone accessories from its Web site. The company sold 5 million shares at $12 each, raising $60 million. The lead underwriter was Robertson Stephens.
Finally, Cysive Inc. announced that it has raised its price range from $11-$13 to $14-$16. The company helps provide eBusiness services. The lead underwriter is Thomas Weisel Partners. The proposed ticker symbol is CYSV.
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