Markets Quiet Ahead of Rate Decision
Page 1 of 1
The markets were subdued today, as investors were concerned about possible interest increases in advance of Tuesday's meeting of the Federal Reserve's Open Market Committee.
internet.com's Internet Stock Index was up 7.88, or 1.25 percent, to 639.79, the Nasdaq Composite had climbed 1.62 to 3,219.53 and the Dow Jones industrial average had gained 8.57 to 10,760.75.
Early next year, there will be another online investment bank, which will underwrite, manage and distribute IPOs for Net and technology companies. Top VCs Kleiner Perkins Caufield & Byers, Trident Capital and Benchmark Capital are backers. Other investors include Schwab, TD Waterhouse and Ameritrade.
Red Hat Inc. (RHAT) had jumped 3-9/16 to 105-3/8 after announcing plans to purchase privately-held Cygnus Software for $674 million in stock. Cygnus products include a royalty-free operating system targeting IP devices.
GoTo.com (GOTO) was up 17-25/32 to 109. Late Friday, the company announced it had won a preliminary injunction stopping Walt Disney Co. (DIS) and Infoseek Corp. (SEEK) from using the Go.com name on advertising for their joint venture. The judge found there was enough similarity between the names to cause confusion among consumers.
E-commerce software provider Ariba Inc. (ARBA) had rocketed 13-3/8 to 210 and InterWorld (INTW) had climbed 8-1/8 to 67-7/8. The two companies announced a marketing aimed at helping suppliers and buyers together using the Internet.
Introducing Internet StockTracker, the new weekly e-mail newsletter from internet.com Corp. Every Friday internet.com will deliver to your e-mail in-box the latest performance data on individual Internet companies and their competitors. Internet StockTracker will deliver to you all the statistics you need to assess the week's activity. Subscribe today and receive the Charter Rate of $157 -- a savings of $70 off the regular subscription price! e-newsletters