Gamely Bucking The Tide
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It might seem like every Internet stock has lost ground in the past month, with some still in the process of free-falling.
But looking at data compiled from internet.com's Internet StockTracker spreadsheet, I've uncovered 10 -- count 'em, 10! -- Net stocks that have boldly defied a market downturn which through Wednesday had sent the Nasdaq plummeting 20 percent below its March 10 all-time closing high of 5048.63.
Ah, an example of the "flight to value" that many analysts and market observers said was occurring during the month-long sell-off of Internet stocks.
Here are the High-Flying 10 for the past month, with percentage gain and market cap:
1) AOL, 7.2 percent, $149.5 billion: Buzz on the street is that AOL is set to once again turn in a strong earnings, with growth from all its major revenue streams.
2) MapQuest.com (MQST), 6.3 percent, $746 million: The online and wireless destination information service has been focusing less on the consumer market and more on B2B. It reported strong revenue growth, but widening losses, in mid-March.
3) Bottomline Technologies (EPAY), 5.6 percent, $516.3 million: Online billing, payment, and electronic banking software provider has landed contracts with Citibank and FleetBoston Financial in the past month.
4) Claimsnet.com (CLAI), 5.4 percent, $48.9 million: Maker of transaction software for the healthcare industry announced last month plans to expand into online management of employer-based health benefits market.
8) Cisco Systems, 2.8 percent, $485.6 billion: Still the ultimate infrastructure play.
9) Hoover's (HOOV), 2.3 percent, $138.3 million: Online financial information provider raises profile with expanded distribution agreement with Lexis-Nexis and deal with Microsoft to power Redmond's new MSN MoneyCentral IPO Center.