RealTime IT News

Net Stocks Stage Afternoon Pull-Back

Internet stocks finished higher but retreated from their mid-day levels. Adding momentum to the Net space were Homestore.com, eBay, and Yahoo!.

internet.com's Internet Stock Index was up 16.63, or 1.56 percent, to 1,080.27, the Nasdaq Composite rose 22.42 to 4963.03, and the Dow Jones industrial average slipped 7.14 to 11,112.72.

Homestore.com (HOMS) jumped 12-3/16 to 47-13/16. The online real-estate network extended its relationship with GMAC, a home-related service subsidiary of General Motors.

Yahoo! Inc. (YHOO) gained 3 to 194 and eBay Inc. (EBAY) climbed 20-3/16 to 243-3/4. Britain's Financial Times, citing individuals close to the negotiations, said the two had resumed discussions that could result in a merger.

Reports of talks between the two Internet bellwethers first emerged two weeks ago, but have never been confirmed by either company.

Commerce One Inc. (CMRC) was up 18-11/16 to 223-11/16. The e-commerce software company and Boeing Co. next week are expected to announce a joint venture with a several aerospace companies that would create an Internet-based aircraft parts exchange. Rival, Ariba (ARBA) was down 5-15/16 to 259-9/16 on the speculation.

Wit Capital Group Inc. (WITC) jumped 4-7/8 to 21-7/16. The Internet investment bank Friday said it expected to report its first quarterly profit at the end of this month.

GoTo.com Inc. (GOTO) rocketed 11-63/64 higher to 48-7/64. The company said its online marketplace has grown to more than 25,000 advertisers and traffic has grown to 20 million unique monthly users.

Doubleclick Inc. (DCLK) was up 3-1/4 to 109-1/4 following reports the company is in talks with Michigan officials in an attempt to settle allegations the company failed to disclose it was collecting personal information on Internet users.

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