IPOs Steal the Show
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A few Internet companies making their debut in the public marketplace and optimistic comments from industry analysts sent the ISDEX and Nasdaq indices higher on Tuesday.
The long awaited IPO of an online e-tailer also provided plenty of excitement for Internet investors.
internet.com's Internet Stock Index (ISDEX) was up 21.58, or 2.39 percent, to 924.33, the Nasdaq Composite rocketed 106.04 higher to 4427.81 and the Dow Jones industrial average added 51.81 to 10957.60.
Reuters Group PLC (RTRSY) American depositary receipts soared 26-1/8 to 125-1/2 and Multex.com Inc. (MLTX) gained 1-5/8 to 31-1/2. Reuters plans to form a new Web site targeting European private investors in partnership with Multex.
Akamai Technologies Inc. (AKAM) was up 12-15/16 to 240-15/16. The company, whose software optimizes the delivery of Web content, was initiated by Lehman Brothers' William Garrahan with a "buy" rating.
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