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RealTime IT News

Internets Suffer From Profit Taking

Internet stocks were punished for a second straight day, following impressive gains in recent weeks.

internet.com's ISDEX gave up 43.75 to 675.69, the Nasdaq composite lost 85.17 to 3336.20, and the Dow Jones Industrial Average surrendered 70.11, closing at 10,877.81.

Disney's Internet tracking stock, Go.com (GO) , added 2-3/16 to 27-3/4. ESPN.com and ABC.com, both units under the Go network, announced sharp increases in user traffic. Another unit, DisneyStore.com, announced it quadrupled its sales over Thanksgiving weekend compared with the same period last year.

Donaldson Lufkin & Jenrette initiated coverage of Akamai Technologies (AKAM) with a "buy" rating. Shares of the "speedy" technology firm rose 9 to 236.

American depositary receipts of Korea Thrunet The Internet consulting/services sector is hot ahead of Agency.com's IPO. IXL Enterprises Broadcom Corp. e-newsletters