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RealTime IT News

Tech Index Flirts With Milestone

Investors cheered the Nasdaq Composite past 3,000 before the midpoint of Tuesday's session although the technology-heavy index was unable to end Tuesday above the milestone.

internet.com's Internet Stock Index closed off 6.21, or 1.10 percent, to 560.66, the Nasdaq Composite climbed 13.96 to 2,981.61 and the Dow Jones industrial average ended down 66.67 to 10,581.84.

GoTo.com (GOTO) soared 22-11/16 to 79-15/16. 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.

Stamps.com (STMP) fell 9-1/8 to 45-1/2. 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.

PurchasePro.com (PPRO) surged 21-3/8 to 61-1/2. The company, which is a business-to-business hub, signed a joint venture with Workflow Management (WORK) . The CEO of PurchasePro.com also announced he was buying $1 million of his company's stock.

Leaders were mixed, with Ariba Inc. (ARBA) up 8-5/16 to 168-15/16, Broadcom Corp. (BRCM) adding 3-5/8 to 141-5/8, BroadVision Inc. (BVSN) tumbling 6-9/16 to 74-3/8, Junipter Networks (JNPR) closing off 3-5/16 to 265-1/4, and Network Solutions Inc. (NSOL) falling 6-3/4 to 116-1/4.

VeriSign (VRSN) surged 24-7/16 to 155. The company announced a technology deal with Dun & Bradstreet.

eBay (EBAY) fell 5-3/4 to 131-1/4. The company had its third outage in the past three days. Today's outage lasted from 7:38 a.m. to 9 a.m. Eastern.

Software.com (SWCM) jumped 8-7/16 to 81-7/16. 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 5-1/16 to 15-11/16. Alan Lutz, the cokmpany'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 4-11/16 to 50-3/8 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. However, the company did announce a deal to partner with The Gap in a cross-promotional campaign for this Christmas.

MP3.com Inc. (MPPP) had rocketed 5-1/8 to 53-11/16. The company Tuesday launched a new grassroots marketing program.

On the IPO front, Webvan announced that it was delaying its IPO until Wednesday. The company had to delay its IPO several weeks ago because of excessive publicity. The lead underwriter is Goldman Sachs and the price range is $11-$13. The company sells groceries online.

As for Akamai (AKAM) , it continued its wild ride, climbing 18-7/16 to 192-3/4. The company had its IPO last week, which was one of the biggest for the year.


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