RealTime IT News

Internets Slip Past Indices

Internet stocks fared better than techs and blue chips Thursday, moved forward by several better-than-expected earnings reports.

internet.com's Internet Stock Index rose 6.60 to 861.82, the Nasdaq Composite fell 30.35 to 4039.56 and the Dow Jones industrial average slipped 4.97 to 11028.02.

CMGI (CMGI) added 1-1/4 to 112-1/4. Lazard Freres initiated coverage of the incubator with a "buy" rating and $170 price target.

Andover.net (ANDN) matured 1-5/8 to 32-7/8. The Linux hub announced the acquisition of of QuestionExchange.com, a support site for Linux and Open Source.

Etoys Inc. (ETYS) lost 4-3/8 to 16-7/8. The online toy retailer reported a quarterly loss of 52 cents a share, matching analyst estimates. Investors are concerned following the announcement that competitor, KBKids.com has filed for an IPO.

Gainers included Exodus Communications Inc. (EXDS) , up 9-15/16 to 129-15/16 after Paine Webber's John Hodulik came out with a 175 price target. Salomon Brothers also hiked its target by $15 to $155 and Jefferies & Co. raised its price target to $160.

Sycamore Networks Inc. (SCMR) rose 13-3/16 to 313-1/4. The fiber-optic equipment company late Wednesday announced a 3-for-1 stock split.

Real Networks Inc. (RNWK) gained 4-15/16 to 174-13/16. The streaming media giant Tuesday reported better-than-expected quarterly results.

Healtheon/WebMD Corp. (HLTH) jumped up 4-3/4 to 71-1/16. The company Thursday announced mutual fund manager Janus Capital Corp. is investing $930 million and will receive 15 million shares.

Women.com Networks Inc. (WOMN) added 2-1/8 to 14-1/8. The Web site for women reported a lower-than-expected loss and said its revenue tripled in the quarter.

Commerce One (CMRC) fell 3-13/16 to 181-13/16 after falling big on Wednesday. The electronic commerce company reported a quarterly loss of 16 cents a share, 1 cent lower than expectations.

Broadvision Inc. (BVSN) lost 5-15/16 to 146-1/8. The company reported a fourth-quarter income of 9 cents a share, 3 cents better than forecasts.

Allaire Corp. (ALLR) plunged 18-3/8 to 153-1/2. The maker of Web development software announced a 2-for-1 stock split.