RealTime IT News

Net Investors Choose Treats Over Tricks

Internet stocks had their best day on Tuesday since their spring highs. The ISDEX soared almost 10%, and only 3 of 50 stocks in the index traded lower on the day.

The ISDEX soared 55 to 622, and the Nasdaq surged 178 to 3369, despite rumors that Intel will guide estimates lower tomorrow. The S&P 500 climbed 30 to 1429, and the Dow rose 135 to 10,971. Volume surged to 1.35 billion shares on the NYSE and 2.14 billion on the Nasdaq. Advancers led by 20 to 8 on the NYSE and 27 to 12 on the Nasdaq. For earnings reports, visit our earnings calendar and reported earnings. For after hours quotes and news, visit our after hours trading site.

Among the many big winners on the day were Exodus , up 6 3/4 to 33, and PurchasePro , up 6 5/8 to 27.

Terra Lycos , the entity formed by the merger of Terra Networks and Lycos, began trading under its new stock symbol, TRLY. The stock rose 1 3/4 to 24 1/4.

Internet infrastructure leaders repaired yesterday's technical damage. Cisco Systems gained 5 13/16 to 53 7/8 to recover above the critical $50 level. Cisco reports earnings Nov. 6. JDS Uniphase soared 9 11/16 to 81. Juniper Networks surged 27 5/8 to 194; the close above 180 negated the stock's breakdown yesterday out of a broadening top. F5 Networks gained 3 3/4 to 31 on a First Union Strong Buy.

Expedia soared 3 11/16 to 12 3/4 after blowing away estimates by 22 cents with a 4-cent loss. StarMedia rose 13/16 to 6 1/32 after beating estimates by 9 cents with a 48-cent loss. eToys tacked on 1/8 to 3 7/8 after beating estimates by 2 cents with a 33-cent loss. The company said it expects to breakeven in 2002.

internet.com , publisher of this Web site, gained 1 1/4 to 21 after the company's 4-cent earnings beat estimates by a penny. barnesandnoble.com lost 1/4 to 4 after matching estimates with a 25-cent loss. iXL Enterprises slipped 1/8 to 2 1/2 after missing estimates of a 14-cent loss by 55 cents. EarthLink lost 7/32 to 6 17/32 after beating estimates by 4 cents with a 33-cent loss. Beyond.com added 1/16 to 3/4 after receiving a commitment for up to $40 million in private equity financing.

I-many bolted 4 7/8 to 20 5/8 after beating estimates by a dime with a 12-cent loss. AvantGo lost 1 1/8 to 9 7/8 after matching estimates with a 70-cent loss. Data Return gained 1 1/2 to 11 1/2 after missing estimates by 3 cents with a 35-cent loss. Mainspring , up 2 to 8, beat estimates by a nickel with a 19-cent loss.

Mortgage.com , down 5/16 to 1/8, announced it will cease operations.

Some technical comments on the market: Note: We are now including charts with the technical market commentary; just click on the links in the story below to go to them. If you have trouble accessing the charts via the e-mail newsletter version, try this link: http://www.afterhourstrading.com/column.html

A lot to like today. Breadth, volume, and the indexes are all rallying together for once. The Dow closed above 10,900, above the 10,850-10,900 level that short-circuited its rally in September, and above the highest point that we can call the apex of the broken bearish diamond pa