RealTime IT News

Bulls Let One Slip Away

Internet and technology stocks gave back early gains on Wednesday to close below their recent lows.

The ISDEX slipped 8 to 684 after trading as high as 711, and the Nasdaq lost 27 to 3658 after trading as high as 3753. The S&P 500 also gave back much of its gains, finishing up half a point to 1438, well off its high of 1451. The Dow looked better, gaining 80 to 10,687. Volume rose to 987 million shares on the NYSE and 1.47 billion on the Nasdaq. Advancers led 15 to 12 on the NYSE, but decliners led 20 to 19 on the Nasdaq. The big economic report for the week is Friday's July employment data. For earnings reports, visit our earnings calendar and reported earnings.

After the bell, Go.com beat estimates by 11 cents with a 34-cent loss. The stock slipped 1/16 to 10 5/8 in regular trading and was halted after hours on the news. The company will become the Disney Internet Group on Monday, stock symbol DIG.

24/7 Media issued a press release saying the company had not issued an earnings warning yesterday, as Bloomberg had reported. CEO David Moore had been discussing general Internet advertising weakness, but "did not provide any revisions to financial analysts' expectations regarding 24/7 Media's financial results for second or third quarters for year 2000." The stock recovered 19/32 to 10 1/16.

InterTrust was one of the day's biggest winners, gaining 2 5/16 to 15 5/8 on news that Universal Music Group announced plans to offer music over the Internet in digital format.

Scient gained 4 15/32 to 47 31/32 on news of an alliance with Deutsche Bank's e-millenium 2 Asia-Pacific investment fund.

Sapient gained big after reporting second-quarter earnings of 23 cents a share, 3 cents better than estimates, and announcing a 2-for-1 stock split. The stock gained 17 1/4 to 121 1/8, but down from an intraday high of 128.

Sequoia Software gained 15/16 to 11 7/16 after beating estimates by 6 cents with a 26-cent loss.

GoAmerica beat estimates by a penny with a 22-cent loss and announced an alliance with Dell Computer , but the stock slipped 5/8 to 10 after trading as high as 11 29/32.

Click Commerce reported a loss of 1 cent a share, 4 cents better than estimates. But the stock fell 4 1/4 to 25 7/16. Salon.com beat estimates by a nickel with a 36-cent loss, and the stock added 1/32 to 1 17/32. Viador beat estimates by 3 cents with a 29-cent loss, but the stock slipped 15/16 to 10 1/8.

SciQuest.com reported a loss of 35 cents a share, 3 cents better than estimates. The stock slipped 11/32 to 9 5/8.

Egghead.com slipped 1/8 to 2 1/4 after warning that third-quarter revenues will be below the second quarter.

Juno continued to fall a day after the company lowered forward guidance. Chase H&Q cut the stock to Market Perform from Buy. Juno fell 2 1/8 to 7 1/8.

S1 continued to decline a day after missing earnings estimates, falling 2 5/8 to 15 1/2 on downgrades from Legg Mason, ABN Amro and USB Piper Jaffray.

MicroStrategy gained 1 9/16 to 21 7/8 on news of a new Chief Financial Officer.

Interwoven climbed 2 3/4 to 67 1/2 on news that Target Stores has selected the company's content management platform to power Target.com.

SonicWall gained 1 5/16 to 82 1/4 on news of a 2-for-1 stock split.

SpeechWorks bolted 12 1/4 to 69 on its second day of trading. For more on the IPO, click