Healtheon/WebMD Falls Ill, Net Stocks Fair Well
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Mergers and upgrades pushed Internet stocks higher Monday despite a big decline in shares of Healtheon/WebMD.
internet.com's Internet Stock Index was up 10.86, or 1.22 percent, to 902.75, the Nasdaq Composite jumped 76.40 to 4320.50 and the Dow Jones industrial average fell 58.01 to 10905.79.
Silknet Software (SILK) rocketed 44-3/16 higher to 183-5/16 on news it was merging with Kana Communications (KANA) in a $4.2 billion stock deal. Shares of KANA fell 18-3/8 to 240-1/2. The two companies make software that helps e-businesses better communicate with their customers and suppliers. Reporter@Large-Luke Fronefield featured Kana in a recent note to investors.
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