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RealTime IT News

Net Stocks See Another Wave of Buying

Money continued to flow into Internet stocks Monday, boosting several hard-hit sectors that are still trying to recover from the recent tech and Internet stock correction.

internet.com's Internet Stock Index gained 11.97, or 1.55 percent, to 786.54, the Nasdaq Composite climbed 97.42 to 3,958.08 and the Dow Jones industrial average climbed 77.87 to 10,811.78.

Leaders in positive territory included Ariba Inc. (ARBA), jumped 9-3/4 to 83-15/16, Broadcom Corp. (BRCM), gained 1-7/8 to 174-1/4 CMGI Inc. (CMGI), lost 1-3/4 to 69-1/2, CNET Inc. (CNET), rising 4-7/16 to 39, Exodus Communications Inc. (EXDS), added 1-11/16 to 90-1/8 and Vignette Inc. (VIGN), rose 3-5/16 to 51-1/2.

MP3.com Inc. (MPPP) closed up 1-13/32 to 8-13/32 after Friday's steep losses. The company Monday teamed with LookSmart to provide content for the portal's new MP3 section.

Safeguard Scientifics (SFE) jumped 7-1/8 to 49-1/4. The incubator for Internet infrastructure companies Monday received another $100 million from IBM Corp. and Compaq Computer Corp.

About.com Inc. (BOUT) soared 15-5/16 to 49-5/8. Shares continued to benefit from the company's better than expected quarterly results.

Inktomi Corp. (INKT) ended up 10-11/16 to 164-5/8. The company is hosting a briefing for investors Thursday.

Homestore.com (HOMS) jumped 4-5/8 to 22-7/8. The online real estate portal Monday signed a five-year alliance with America Online Inc. (AOL).

Entrust Technologies Inc. (ENTU) added 3-1/4 to 52-3/8.

Snowball.com Inc. (SNOW) soared 1-1/8 to 4-3/4 following several positive analyst comments. Goldman Sachs initiated coverage with a "market outperform," Chase Hambrecht & Quist initiated coverage with a "buy" and Robertson Stephens & Co. initiated coverage with a "buy."

Firepond (FIRE) gained 6-1/16 to 22after Robertson Stephens reiterated its "buy."

Mediconsult.com Inc. (MCNS) added 1-1/32 to 3-1/16. McKesson HBOC Inc., the nation's largest drug wholesaler, Monday invsted $6.5 million in the online health information company.

Chinadotcom Corp. (CHINA) jumped 10-5/8 to 59-1/4. The Asian news and information provider Monday announced a 2-for-1 split.

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