Net Stocks Stage Afternoon Pull-Back
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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.
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.
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.
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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