Internets Power Ahead of Falling Blue Chips
Page 1 of 1
Internet stocks were getting off to a good start Monday as a variety of companies were advancing following news of several upgrades and stock splits and another Net addition to the Nasdaq 100.
At noon Eastern, internet.com's Internet Stock Index was up 9.08, or 1.09 percent, to 844.80, the Nasdaq Composite was up 26.26 to 3,646.50 and the Dow Jones industrial average had fallen 18.35 to 11,206.35.
One of the sector's biggest gainers was Foundry Networks (FDRY) up 35-1/2 to 313-1/2. The Internet equipment maker Monday announced a 2-for-1 stock split. Shares have risen 11-fold since going public in September.
Whittman-Hart Inc. (WHIT) had plunged 22-7/8 to 56-3/8 after announcing it will buy USWeb/CKS Corp. for $5.88 billion in stock. Whitman will pay about $68.55 a share for USWeb/CKS. That represents a 35 percent premium from Friday's close. USWeb was off 5-3/8 to 45-1/2.
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