RealTime IT News

Buyers Continue Snapping Up Net Stocks

Internet shares continued their winning ways Tuesday, buoyed another wave of buying as several sector leaders are set to report earnings after the closing bell.

At 11:45 a.m. Eastern, internet.com's Internet Stock Index had soared 43.11, or 6.50 percent, to 706.05, the Nasdaq Composite had gained 168.43 to 3,707.59 and the Dow Jones industrial average had gained 125.11 to 10,707.62.

Strong risers included SportsLine.com (SPLN), leaping 5-3/8 to 17. The company reported first-quarter revenue more than doubled to $23 million.

WebTrends Corp. (WEBT) was up 3-3/16 to 29-1/16. The company, whose software analyzes Web traffic, reported first-quarter earnings of 5 cents, a penny better than estimates.

Wit Capital Group Inc. (WITC) had gained 1-3/16 to 11-9/16. The Internet investment bank posted its first profit, earnings 8 cents a share in its most recent quarter.

Inktomi Corp. (INKT) had added 16-1/4 to 108-1/4. The firm, whose software optimizes Internet connections, reports later Tuesday. It is expected to lose 2 cents in its fiscal second quarter compared to a 7-cent loss a year ago.

RealNetworks Inc. (RNWK) had gained 5 to 39. The streaming media company reports first-quarter earnings after the bell. Analysts are projecting a 4-cent profit.

America Online Inc. (AOL) was up 15/16 to 59-11/16. The company reports its fiscal third-quarter results after the market close. Forecasts are for a 9-cent profit.

One company falling on earnings news was Doubleclick Network Inc. (DCLK) down 4-11/32 to 55-15/32. The Internet ad firm lost $13.2 million, or 11 cents a share in its most recent quarter. That was in line with analyst estimates. Also, CS First Boston upgraded the stock to a "strong buy" from "buy" and set a $90 price target.

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