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RealTime IT News

VA Linux Soars on Roller Coaster Day

Internet issues rebounded from a mid-day sell off Thursday. Helping the rebound was linux play, VA Linux. The stock opened at $30 and finished up 733% to 250.

internet.com's Internet Stock Index finished up 22.49, or 2.82 percent, to 819.10, the Nasdaq Composite climbed 7.63 to 3593.71 and the Dow Jones industrial average gained 66.67 to 11134.79.

(LNUX) soared shortly after its debut, gaining 220 to 250. Shares were priced at $30 late Wednesday, ahead of the initial range of $11 to $13.

Amazon.com Inc. (AMZN) jumped 14-7/16 to 103. The online retailer was rated a "buy" by J.P. Morgan's Thomas Wyman who initiated coverage Thursday. Wyman set a $160 price target.

Online sports retailer, Fogdog Inc. (FOGD) added 2-1/8 to 13-1/8. The company offered 6 million shares at $11 each, raising $66 million.

24/7 Media (TFSM), gained 6 to 58-1/8, Real Networks Inc. (RNWK) surged 6-1/6 to 158-7/8, CMGI Inc. (CMGI) advanced 8-11/16 to 197-3/4, and Internet Capital Group (ICGE) flew 28-3/16 higher to 241-1/2.

Digital Island (ISLD) surged again on Thursday, 29-11/16 to 144-5/8. E*Offering initiated coverage with a "buy" rating.

"We believe that the company is an emerging sector leader and represents an attractive investment opportunity. . .," wrote Christine Nairne in a note to investors. "In our opinion, no other company currently provides the integrated, high-end, global e-business network services that Digital Island offers."


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