Profit-Taking Takes Indices Lower
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Internet issues finished lower on Friday despite several high-profile Internet issues debuting on the public market.
internet.com's Internet Stock Index was off 23.66, or 2.49 percent, to 928.07, the Nasdaq Composite fell 90.25 to 4395.38 and the Dow Jones industrial average dropped 218.42 to 10425.21.
Cisco Systems Inc. (CSCO) was off 5 to 130-15/16, Doubleclick Inc. (DCLK) was down 7-3/8 to 11-1/8, eBay Inc. (EBAY) fell 9 to 153-3/8, Exodus Communications (EXDS) dropped 5-13/16 to 114-9/16, Real Networks Inc. (RNWK) lost 9-3/8 to 177-1/2 and Yahoo! Inc. (YHOO) plunged 22-5/16 to 342-11/16.
Ariba Inc. (ARBA) finished up 16-15/16 to 212, Juniper Networks Inc. (JNPR) rose 7-3/8 to 215-7/8 and Starmedia Network (STRM) matured 5-1/4 to 52-1/2 on rumors that the Spanish and Portuguese language network could soon be bought out.
Elsewhere in the sector, FatBrain (FATB) lost 6-7/8 to 13-7/8. The online retailer of technical information was downgraded to a "buy" from "strong buy" by Banc of America Securities and US Bancorp Piper Jaffray.
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