RealTime IT News

Chip Strength Sends Nasdaq Soaring

A run-up by chip-related stocks was sending the Nasdaq Composite into record territory Tuesday morning as Internet investors were browsing through a number of deals across that sector.

At 11:30 a.m. Eastern, internet.com's Internet Stock Index was up 18.16, or 1.89 percent, to 977.75, the Nasdaq Composite had gained 72.66 to 4,650.57 and the Dow Jones industrial average had added 16.75 to 10,055.40.

Among the leaders, large climbers included Broadvision Inc. (BVSN), up 14-15/16 to 248, CMGI Inc. (CMGI), up 2-3/16 to 118-9/16, Doubleclick Inc. (DCLK), up 1-5/16 to 89-7/8 and Juniper Networks (JNPR), gaining 24-1/4 to 253-5/16.

Other climbers included Network Solutions Inc. (NSOL), gaining 10-9/16 to 319-1/16 and Infospace.com Inc. (INSP), up 4-5/8 to 222-3/4.

On the losing side, 24/7 Media (TFSM) was off 2-7/8 to 46-5/8. The ad firm Tuesday bought e-mail marketer Exactis.com in a $490 million stock deal.

Broadcom Corp. (BRCM) had leaped 11-7/8 to 193-3/8. The high-speed chip maker Tuesday bought software firm Digital Furnace Corp.. for $16 million in stock.

Lycos Inc. (LCOS) was up 1-5/8 to 59-7/8. The company Tuesday teamed with 1stUp.com and ZipLink to launch a free Internet access service.

National Discount Brokers Group Inc. (NDB) had soared 10-1/4 to 41-1/4. The online brokerage Tuesday said it expects to substantially surpass Wall Street estimates for its fiscal third quarter. It expects operating earnings to range from 95 to $1.05 a share.

The news was also benefiting its competitors, including E*Trade Group Inc. (EGRP), up 1-11/16 to 24-9/16, DLJdirect (DIR), up 1/2 to 10-1/16 and Charles Schwab Corp. (SCH), up 2-5/8 to 39-15/16.

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