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RealTime IT News

Friday Ends Brutal Week

The Nasdaq Composite ended its worst week in history Friday with another bruising session that was particularly tough on Internet stocks.

internet.com's Internet Stock Index lost 74.24, or 10.60 percent, to 626.28, the Nasdaq Composite was off 354.99 to 3,321.79 and the Dow Jones industrial average plunged 616.23 lower to 10,307.32.

PeaPod (PPOD) announced a strategic partnership with International food provider, Royal Ahold. Ahold will invest approximately $73 million in the online grocer and own 51 percent of PeaPod's total outstanding stock. In addition, Ahold will supply Peapod with goods, services and fast pick fulfillment centers. Shares of PeaPod finished 11/16 higher to 3-3/16.

E.piphany (EPNY) dropped 32-19/64 to 47-1/2 following news it has partnered with Digital Think (DTHK) to create Web-based course content for DTHK's software.

ZipLink (ZIPL) was 7/16 lower to 9-7/16 despite positive news. The wholesale Internet connectivity provider announced it has signed a national connectivity agreement with GoAmerica Communications Corp's. (GOAM) wireless division. GoAmerica gains access to ZipLink's ISP channels and allows it to now offer its customer base a full range of connectivity solutions.

Scient (SCNT) was down 2-3/4 to 39-1/2 after DLJ initiated coverage on the Internet services with a "buy" rating. The stock now trades...

Ariba Inc. (ARBA) lost 5-9/16 to 59-1/2, eBay Inc. (EBAY) matured 3/4 to 139-9/16, Exodus Communications (EXDS) finished 12-5/8 lower to 85-9/16, and Inktomi Corp. (INKT) dropped 9-3/4 to 100-13/16.

Shares of National Information Consortium (EGOV) were off 4-33/64 to 12-63/64 after the governement Internet solutions provider announced it was pulling plans for a follow-on public offering of stock.

Internet Capital Group (ICGE) continued to fall, down 2-53/64 to 38-63/64. The B2B holding company is now trading 83 percent off its 52-week high.