B2B Stocks Part of Broad Net Rally
Page 1 of 1
Investors were flocking to the Internet sector's B2B darlings at midday Wednesday on the heels of a deal that will create an auction site for businesses to trade surplus items.
At 11:45 a.m. Eastern, internet.com's Internet Stock Index had soared 38.89, or 3.8 percent, to 1,061.80, the Nasdaq Composite was up 113.23 to 4,824.91 and the Dow Jones industrial average had lost 69.11 to 10,838.23.
The purchase gives PSINet controlling interest in Metamor's Xpedior Inc. (XPDR) consulting unit. Xpedior had soared 7-1/2 to 21-13/16.
Several other leaders were joining in the rally, including Broadcom Corp. (BRCM), up 9-15/16 to 237-15/16, Exodus Communications (EXDS), climbing 7 to 162-1/4, Infospace.com (INSP), vaulting 18-7/8 to 178-1/2, Doubleclick Inc. (DCLK), up 7-1/4 to 104-1/4 and eBay Inc. (EBAY) had risen 11-3/8 to 225-7/8.
Liberate Technologies (LBRT) had gained 9 to 79. The set-top box maker reported a quarterly loss of 14 cents a share before one-time items, 4 cents better than expectations.
Subscribe to internet.com's HotWatch, a monthly e-mail newsletter featuring Internet Stock Report's top 10 noteworthy Internet stocks for the month. Each month you will receive in-depth analysis on the top 10 Internet stocks to watch with the information you need to assess the fast-paced nature of Internet stocks. Staying on top of market changes in the Internet Stock market is what counts. You receive 12 timely issues sent to you by e-mail. Don't wait, our next issue will be out before you know it with a whole new perspective on the market. Sign up today at: e-newsletters