RealTime IT News

Go2Net Blows Away Earnings Estimates

Go2Net posted blow-out earnings after the bell on Monday, continuing a string of stellar earnings reports from Internet bellwethers. Blue chip stocks lagged Internet and technology shares in Monday's trading session, as traders awaited the Consumer Price Index and earnings reports from Microsoft and Intel on Tuesday.

The ISDEX rose 11 to 837, and the Nasdaq gained 28 to 4274. The S&P 500 added half a point to 1510 and the Dow declined 8 to 10,804. Volume declined to 904 million shares on the NYSE and 1.56 billion on the Nasdaq. Declining issues led 15 to 13 on the NYSE, but advancers led 21 to 18 on the Nasdaq. June's Consumer Price Index will come out tomorrow at 8:30 a.m. Analysts expect a 0.4% increase in the CPI and a 0.2% increase in the core number. Microsoft and Intel report earnings after the bell tomorrow. For earnings reports, visit our earnings calendar and reported earnings. Fed Chairman Alan Greenspan delivers his Humphrey-Hawkins testimony on Thursday.

Go2Net posted earnings after the bell of 22 cents a share, seven cents better than estimates and up more than 200% from a year ago. The stock, which rose 4 1/4 to 58 during regular trading, rose another $3 after hours. WebTrends reported earnings of 7 cents a share, a penny better than expected, and was unchanged at 42 after hours, after gaining 3 1/4 during regular trading.

CareerBuilder.com soared 3 21/32 to 7 25/32 on news that it has agreed to be acquired by KnightRidder.com and the Tribune Company . Online recruiters moved higher on the news. HotJobs.com rose 11/16 to 18 1/8, HeadHunter.net gained 1/2 to 8 1/2, and WebHire bolted 1 3/8 to 4.

eToys gained 11/16 to 6 3/8 on news that Amazon.com may be interested in acquiring the company. Fogdog , up 31/64 to 1 1/2, and Egghead.com , up 27/32 to 3 3/32, went along for the ride.

Internet infrastructure plays were higher after Corning reported second-quarter earnings of 94 cents a share, beating estimates by 14 cents. Corning rose 12 1/4 to 279 1/4, JDS Uniphase added 4 3/16 to 115 13/16, New Focus soared 21 9/16 to 131 13/16, and Avanex catapulted 34 11/16 to 165 13/16.

VerticalNet soared 10 13/16 to 61 15/16 after Goldman Sachs raised the issue to Recommended List from Outperform and set a $75 price target. Goldman Sachs said the market has yet to recognize the company's growth or its move into electronic component trading.

Liberate Technologies declined 7/16 to 33 11/16 after trading as high as 42 on news of a $100 million investment from Cisco and rumors of a potential takeover. The stock also rose Friday on takeover speculation.

BroadVision gained 3 7/16 to 44 3/8 on news of a contract win from E*Trade . CrossWorlds Software rose 2 1/4 to 24 1/16 on news of separate alliances with BroadVision and Dow Chemical. E.piphany gained 2 1/2 to 137 1/2 on news of a contract win from Home Depot .

Exodus fell 3 7/16 to 51 13/16 on news that a deal to buy Global Crossing's Web hosting business may fall apart, and that instead Exodus may be talking to Digex , which soared 17 3/16 to 96.

ebookers.com soared 3 7/32 to 9 23/32 on news that it is seeking $39 million to help it become cash-flow positive.

S1 Corp. gained 3 7/8 to 32 13/16 on news of