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RealTime IT News

Stocks Take Midday Tumble

U.S. markets were caught in a slide as the midpoint of Thursday's session neared. Investors were taking profits from all sectors, however blue chips were hit especially hard, with the Dow briefly slipping below 10,000.

At 11:45 a.m. Eastern, internet.com's Internet Stock Index was off 8.33, or .86 percent, to 957.63, the Nasdaq Composite had fallen 42.53 to 4,507.80 and the Dow Jones industrial average had dove 206.94 to 10,018.79.

A number of Internet leaders were taking it on the chin, including Amazon.com Inc. (AMZN), off 3-3/16 to 67-1/4, CMGI Inc. (CMGI) falling 4-5/16 to 115-7/8, Cisco Systems Inc. (CSCO) losing 3-13/16 to 134-13/16 and Yahoo! Inc. (YHOO) had lost 3-1/16 to 163-1/8.

Several stocks were defying the downward trend, including BroadVision Inc. (BVSN), up 11 to 218-3/4, Broadcom Corp. (BRCM), up 2-3/4 to 188-3/4 and Inktomi Corp. (INKT) gaining 2-5/16 to 138-15/16.

America Online Inc. (AOL) had gained 1-3/4 to 60-1/16 after CS First Boston upped its rating to a "strong buy" and set an $83 target.

Ariba Inc. (ARBA) was up 8 to 247. The electronic commerce software maker won a large order Thursday from Kraft Foods.

Priceline.com Inc. (PCLN) had gained 3-3/8 to 55-1/4. The online supplier of airline tickets, hotel rooms, mortgages and groceries Thursday hired Heidi Miller away from Citigroup as its new chief financial officer.

GetThere.com (GTHR) was up 2-7/16 to 26-7/8. The supplier of Internet-based systems to travel providers reported a narrower-than-expected loss of 14 cents, 11 cents lower than analysts had forecast.

Egghead.com (EGGS) had lost 1-7/8 to 10-7/8. The online software retailer reported a fourth-quarter operating loss of $1.05, 5 cents better than expected.


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