GoTo.com Surges Following Earnings
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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.
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.
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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