Nasdaq Continues Record Pace
Page 1 of 1
Technology stocks continued their upward march Thursday, setting their ninth record in 10 sessions. Internets didn't share in the wealth, however, and ended mostly lower.
internet.com's Internet Stock Index closed off 3.14, or 0.51 percent, to 611.09, the Nasdaq Composite jumped 41.26 to 3,197.22 and the Dow Jones industrial average fell 2.44 to 10,595.30.
InterVU Inc. (ITVU) was up 12-9/16 to 76-1/8 after the Internet audio and video company snagged a $20 million investment from the CNN News Group. The Time Warner (TWX) unit will give InterVU $20 million of its common stock in exchange for three years of online advertising and television promotion.
Microsoft Corp. (MSFT) had climbed 2-1/2 to 89-5/8. The company announced Thursday it was making a $100 million investment in Radioshack.com, the consumer electronics company's online operation. Radio Shack is a unit of the Tandy Corp. (TAN) whose shares had advanced 4-3/16 to 69-3/8 on the deal.
Quest Software (QSFT) was up 2-1/4 to 66-3/8. The company, which develops enterprise software applications, announced that it is purchasing Foglight Software, which is a provider e-business application technology.
On the IPO front, SonicWALL (SNWL) soared 12-1/16 to 26-1/16. The company provides secure Net access for small and medium size businesses. The company raised $56 million and the underwriter was Bear, Stearns & Co. Inc.
ALL NEW! internet.com's HotWatch a monthly e-mail subscription for $99, featuring Internet Stock Report's top 10 noteworthy Internet stocks for the month. Each month you will receive in-depth analysis on the top 10 Internet stocks to watch with the information you need to assess the fast-paced nature of Internet stocks. Staying on top of market changes in the Internet Stock market is what counts. For $99 per year, you receive 12 timely issues sent to you by e-mail. Don't wait, our next issue will be out before you know it with a whole new perspective on the market. Sign up today at: e-newsletters