RealTime IT News

GoTo.com Surges Following Earnings

Shares of online marketplace GoTo.com were soaring in midday trading after the company reported better-than-expected quarterly earnings. Investors were also cheering the Nasdaq Composite which crossed the 3,000 mark for the first time Tuesday.

Just before noon Eastern, internet.com's Internet Stock Index was off 0.15, or 0.03 percent, to 566.72, the Nasdaq Composite had climbed 47.19 to 3,014.84 and the Dow Jones industrial average was up 79.83 to 10,729.34.

GoTo.com (GOTO) had soared 24-1/2 to 81-3/4. The company late Monday reported a third-quarter loss of $7.6 million, or 18 cents a share. That's 6 cents above analysts' expectations.

24/7 Media (TFSM) had dropped 3/16 to 45-9/16. The company introduced its next-generation ad delivery and management system on Tuesday.

Stamps.com (STMP) had fallen 4-13/16 to 49-13/16. The company Tuesday filed for a secondary offering of 5 million shares, priced at $57.50 a share. Also, America Online Inc. (AOL) increased its stake to 11 million shares.

Real Networks Inc. (RNWK) was up 3/16 to 108. The company late Monday announced plans to issue a patch for its Real Jukebox software that will prevent usage data from being transmitted.

Software.com (SWCM) had jumped 8-1/2 to 81-1/2. The company Tuesday announced a joint initiative with Cisco Systems Inc. (CSCO) to develop unified communications services for wireless devices.

Newbridge Networks Corp. (NN) had tumbled 4-9/16 to 16-3/16. Alan Lutz, the company's president and chief operating officer left the network equipment maker after the company predicted its fiscal second-quarter profit will only be 8 to 10-cents a share.

Etoys Inc. (ETYS) had tumbled another 5 to 50-1/16 as shares continue to fall now that the lockout period is over for insiders. That means as much as 10 percent of the company's stock may be sold.

MP3.com Inc. (MPPP) had rocketed 6-1/2 to 55-1/16. The company Tuesday launched a new grassroots marketing program.

Leaders were mixed, with Ariba Inc. (ARBA) up 6-13/16 to 167-7/16, Broadcom Corp. (BRCM) was up 6-1/4 to 144-1/4, BroadVision Inc. (BVSN) had tumbled 5-3/8 to 75-9/16, eBay Inc. (EBAY) was off 5-5/16 to 131-11/16, Network Solutions Inc. (NSOL) had fallen 4-7/8 to 118-1/8 and Verisign Inc. (VRSN) had fallen 1-9/16 to 130.


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