RealTime IT News

B2B Stocks Stand Out in Down Session

Internet stocks fell past their mid-day levels as investors pocketed profits. Still, B2B stocks had a strong showing. Hurting momentum was news that personal and government spending rose faster than expected in the fourth quarter.

internet.com's Internet Stock Index lost 7.79, or 0.79 percent, to 975.83, the Nasdaq Composite was down 27.16 to 4590.49 and the Dow Jones industrial average plunged 230.51 to 9862.12.

News of the governement spending more money than expected may have boosted shares of National Information Consortium (EGOV). The B2G market leader matured 1/8 to 50. Reporter@Large-Luke Fronefield recently featured EGOV.

Commerce One (CMRC) jumped 34-1/16 to 213-1/16.

E*Offering analyst, Patrick Mason initiated coverage with a "buy" rating. "Through its BuySite and MarketSite products, Commerce One provides business-to-business (B2B) e-commerce solutions that link buyers and suppliers together over the Internet via their Global Trading Web, enabling greater pricing and operational efficiencies, which in turn lead to increased revenue opportunities and decreased costs for all trading partners" wrote Mason in a note to viewers.

Ariba Inc. (ARBA) rose 11-5/16 to 264-1/8, Broadvision Inc. (BVSN) also gained 11-5/16 to 240-1/2, Broadcom Corp. (BRCM) was up 4-1/8 to 191 and Exodus Communications (EXDS) added 1-13/16 to 138-1/8.

Network Solutions Inc. (NSOL) dropped 23-7/16 to 308-3/4, CMGI Inc. (CMGI) was off 1-7/8 to 117-1/2 and eBay Inc. (EBAY) fell 13-1/4 to 150-3/4.

Doubleclick Inc. (DCLK) rose 9-7/8 to 91-13/16. Salomon Smith Barney Friday urged investors to use the company's recent price weakness as an opportunity to increase their positions.

America Online Inc. (AOL) slipped 3/8 to 59-5/8 on news it faces a class-action lawsuit over the latest version of its access software. A group of Washington state residents claim the online service knowingly released its 5.0 software without warning that the installation would change a computer's dial-up networking properties and TCP/IP settings.

Priceline.com Inc. (PCLN) was up 3/16 to 56-15/16. The company Friday added gasoline to its expanding line of products.

Excite@Home Corp. (ATHM) lost 2-7/16 to 34. The company is reportedly planning to add Digital Subscriber Line connectivity to its high-speed access arsenal.