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RealTime IT News

Ecommerce Stocks Surge, Portable Market Shows Growth

Bluefly, Inc. , one of the most volatile of all Internet stocks in recent years, surged 24 percent Monday on news that monthly net sales were up by 16 percent. The increase was for November 2003, compared to the previous year. Sales were $3.6 million last month, compared to $3.1 million for November 2002.

It was a good day for other ecommerce stocks. CyberSource , the transaction management provider, rose 15.3 percent on heavy volume. Onilne auction house Ebay hit a 52-week high at 62.69 on stronger than normal volume.

Two leaders in the portable computing market both posted better than expected news after the markets closed.

Research in Motion posted third quarter revenue of $154 million, up 22 percent from the previous quarter. The increase is more than twice the revenue posted in the same quarter a year ago, when RIMM saw $74.2 million in revenue.

The company also boasted of stronger than forecast subscriber growth. The total number of BlackBerry subscribers grew from about 154,000 a year ago to approximately 865,000 subscribers. Net income for the quarter was $16.3 million; in the last quarter, it was $2.1 million.

Meanwhile, PalmSource , the software operating system spun out of PalmOne, annonced sales rose by 13 percent in the third quarter. However, losses rose to $16.8 million, which is an 89 cents per share loss, compared to 83 cents a year earlier. PalmSource executives said most of the loss is related to the corporate re-structuring and that, excluding those items, it would have lost 3 cents a share.

In the broader markets, the Dow closed at 10,338.00, 59.78 points. The Nasdaq closed at 1,955.80, adding 5.

The Technical Analysis reports will return on January 2.