Wage Worries Spook Wall Street
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Internet stocks were up modestly in midday trading Thursday despite a wave of better-than-expected earnings.
At 11:45 a.m. Eastern, internet.com's Internet Stock Index had risen 8.40, or .98 percent, to 863.63, the Nasdaq Composite was up 24.79 to 4,079.70 and the Dow Jones industrial average was up 61.50 to 11,094.49.
Gainers included Exodus Communications Inc. (EXDS) , up 6 to 126 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.
Commerce One (CMRC) had gained 4 to 189 after falling big on Wednesday. The electronic commerce company reported a quarterly loss of 16 cents a share, 1 cent lower than expectations.
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