Net Sector Meltdown Continues
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Internet stocks remained in sell-off mode Tuesday as investors continued voting for blue chips, helping the Dow post another triple-digit gain.
At 11:45 a.m. Eastern, internet.com's Internet Stock Index had lost 34.42, or 4.03 percent, to 819.29, the Nasdaq Composite had slumped 121.58 to 4,066.62 and the Dow Jones industrial average had gained 102.38 to 11,288.94.
A number of losers had posted steep losses, including Broadcom Corp. (BRCM), off 5-1/2 to 189, Doubleclick Inc. (DCLK) off 3-3/8 to 78-1/8, Exodus Communications (EXDS) down 3-5/16 to 122-1/2, Inktomi Corp. (INKT) down 11-1/4 to 150 and RealNetworks Inc. (RNWK) down 2-7/8 to 41-7/8.
Priceline.com Inc. (PCLN) was down 4 to 68-7/8 and Travelocity (TVLY) was off 2-3/4 to 27. Late Monday the two companies announced a marketing alliance. The two companies plan to integrate their ticketing services on both Web sites.
Opus360 Corp. (OPUS) had plunged 3-1/16 to 9-1/4. The Wall Street Journalreported Tuesday the SEC is considering an enforcement action against the B2B Internet company.
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