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RealTime IT News

Nasdaq Continues Winning Ways

Strength in Internet stocks combined with positive sentiment throughout the technology sector spurred the Nasdaq Composite to its 12th record in 15 sessions Thursday.

internet.com's Internet Stock Index jumped 17.22, or 2.60 percent, to 680.27, the Nasdaq Composite climbed 76.54 to 3,345.93 and the Dow Jones industrial average closed up 152.61 to 11,035.70.

Commerce One (CMRC) was up 14 to 324. The e-commerce solutions provider late Wednesday announced a 3-for-1 stock split that will take effect Dec. 23.

A split announcement also helped Ariba Inc. (ARBA) gained 1-1/4 to 206-1/4. The e-commerce services provider will split its stock 2-for-1.

internet.com Corp. (INTM) soared 7 to 41. The publisher of this Web site Thursday announced a deal with Yahoo! Inc. (YHOO) to provide news for its Asian, Singapore and Hong Kong portals.

For its part, Yahoo! closed up 7-11/16 to 213-7/8 after First Union initiated coverage with a "strong buy" and set a $240 price target.

As for the Net leaders, BroadVision (BVSN) climbed 4-1/4 to 92-1/4, AOL (AOL) ended up 4 to 159-5/8, Priceline.com (PCLN) lost 5 to 71-7/8 and Network Solutions (NSOL) rose 12-13/16 to 158-3/8.

RealNetworks (RNWK) climbed 8-11/16 to 152-7/8. A study from KeyLabs shows that 7 out of 10 consumers prefer the sound quality of RealAudio versus Microsoft Media Audio. Also, a study from PC Data shows that 80 percent of Web surfers use RealPlayer.

Amazon.com (AMZN) rose 1-7/16 to 77-15/16. The company announced it will launch its new auction site, in conjunction with Sotheby's on Friday.

Salon.com Inc. (SALN) jumped 1-1/4 to 7-7/8. The Web publisher Thursday unveiled plans for a customized audio entertainment service.

ViaLink (IQIQ) shot-up 9-7/16 to 36-3/4. The company, which develops secure e-business subscription services, signed a deal with Kraft Foods.

AskJeeves Inc. (ASKJ) added 1-3/4 to 172-3/4. The search engine was rated a "strong buy" by First Union Securities which initiated coverage Thursday. Analyst Carolyn Trabuco set a $230, 12-month price target.

Exodus Communications (EXDS) gained 3-1/2 to 107 after Friedman Billings Ramsey initiated coverage with a "buy" rating, setting a $140 target.

Go.com (GO) was off 2-1/4 to 35-1/4. Paine Webber initiated coverage Thursday with a "buy" rating and set a $48 price target.

Finally, Multex.com (MLTX) gained 5-5/8 to 28-3/8. U.S. Bancorp Piper Jaffray came out with several positive comments on the provider of investment research.

On the IPO front, Agilent Technologies (A) climbed 12-3/8 to 42-3/8. The company is a spin-off of Hewlett Packard (HWP) and specializes in diagnostic measurement software for such industries as communications, healthcare and semiconductors. Agilent raised about $2 billion and had Morgan Stanley as the underwriter.

MetaSolv Software (MSLV) soared 36 to 55. The company, which provides outsourcing software for telecom companies, raised $85 million and the lead underwriter was Morgan Stanley.

Retek (RETK) rose 17-9/16 to 32-9/16. The company develops software for the retail inventory management market. The company raised about $70 million and the lead underwriter was CS First Boston.


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