RealTime IT News

Internet Issues were Fractionally Higher

Russian stocks rallied on news of president Boris Yeltsin's resignation. Internet issues were fractionally higher, despite pre-millennium jitters and light volume.

internet.com's Internet Stock Index rose 3.11, or 0.36 percent, to 860.35, the Nasdaq Composite jumped 32.41 to 4069.28 and the Dow Jones industrial average matured 44.26 to 11497.12.

CMGI (CMGI) rose 8-1/16 to 276-7/8. The Internet holding company acquired an 80 percent stake in ADTECH Advertising, a Frankfurt-based Internet advertising company. ADTECH is a provider of third-party, independent ad serving and campaign management solutions to both online advertisers and Web publishers.

Yesterday, CMGI's majority owned, ad-supported free Internet access solutions company, 1stUp.com reported a 30 percent increase in the total hours consumers accessed its network during the month of December, as compared to November.

Spyglass Inc. (SPYG) jumped 5-51/64 to 37-59/64. Frost Securities recently started coverage with a "buy" rating.

Student Advantage (STAD) added 5/16 to 22-3/16. Reporter@Large-Luke Fronefield featured STAD.

Shares of Yahoo! Inc. (YHOO) surged 16-5/8 higher to 432-11/16. Argus Research Corp. recently raised its 12-month price target from $385 to $550. Yahoo will announce earnings on Jan. 11 after the market closes.

Internet Capital Group (ICGE) was up 4-3/4 to 170, VerticalNet (VERT) added 8-1/2 to 164 and Red Hat (RHAT) dropped 11-3/4 lower to 211-1/4.

Reporter@Large-Luke Fronefield will address the Linux market and the stocks next week.

Have a great night and Happy New Year!