Net Stocks End Flat
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Internet stocks barely managed to finish in the plus column Monday thanks largely to a pullback in the B2B sector.
internet.com's Internet Stock Index was up 0.23, or 0.02 percent, to 1,080.50, the Nasdaq Composite slipped 4.90 lower to 4958.13 and the Dow Jones industrial average was off 86.87 to 11,025.85.
Spyglass Inc. (SPYG) rocketed 12-1/2 higher to 82-3/8. The maker of software for set-top boxes was purchased by OpenTV Corp. (OPTV) for $2.5 billion in stock. Shares of OPTV plunged 39-61/64 lower to 129-3/64.
Investors were pulling their money out of the B2B sector after strong gains last week. Internet Capital Group (ICGE) lost 3-3/4 to 106-3/8, Ariba (ARBA) dropped 13-3/4 to 245-13/16, and Commerce One (CMRC) gave up 10-3/8 to 213-5/16.
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