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RealTime IT News

Internets Go on Roller Coaster Ride

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.

About.com (BOUT) rose 3 to 52-3/4. The web guide company had beat earnings estimates. The company posted a net loss of $1.08 per share, which compares to the First Call estimate of $1.27 per share.

CNET Inc. (CNET) fell 2-1/16 to 54-7/16. The company purchased Savvy Search Ltd. for $22 million in cash and stock.

As for the Net leaders, Ariba Inc. (ARBA) was off 6-5/8 to 163-1/2, eBay (EBAY) was up 4-5/8 to 141-5/8, Broadvision Inc. (BVSN) fell 6-9/16 to 154-11/16 and CMGI Inc. (CMGI) climbed 4-1/4 to 104-1/4.

Yahoo! Inc. (YHOO) surged 5-13/16 to 173-3/8. The company Thursday inked a deal with Motorola Inc. (MOT) to enable users of Motorola's wireless telephones to access Yahoo! content.

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.

AdForce (ADFC) rose 1-3/16 to 26-1/16. The company reported a 34 cent loss, which was 4 cents better than First Call projections.

Redback Networks Inc. (RBAK) had tumbled 5-11/16 to 129-3/8. The company reported a third-quarter loss of $1.6 million, or 4 cents a share, compared to $2.6 million or 44 cents a share a year ago.

Finally, Charles Schwab Corp. (SCH) had climbed 1-13/16 to 29-7/8 after saying its third-quarter profits rose 27 percent from a year ago.

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.

Netcentives (NCNT) inched up 1/16 to 12-9/16. The company develops direct marketing technology. The lead underwriter is CS First Boston. The company issued 6 million shares, raising $72 million.

NetRadio (NETR) fell 1 to 11. The company is a provider of music over the Web. NetRadio raised $35 million. The lead underwriter is Gerard Klauer Mattison.

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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