Just Like Old Times For Net Stocks
Internet stocks surged another 5% on Thursday for a remarkable 3-day gain of 16%.
The ISDEX
After the close, Priceline
During the day, Liberate
Saudi Arabia Prince Alwaleed bin Talal, undeterred by his failed investment in Priceline.com
PSINet
Foundry Networks
Genuity
BroadVision
InterTrust
Handspring
Internet infrastructure leaders rebounded. Cisco Systems
Red Hat
Some technical comments on the market: Note: We are now including charts in the technical market commentary. If you can't get the charts via the e-mail newsletter version, try this link: http://www.afterhourstrading.com/column.html
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We're already seeing signs in this rally that we don't like. We'll focus today on the large-cap Nasdaq 100. The index filled a gap at 3326 today that had gained 31 to 652, and the Nasdaq rose 95 to 3429. The S&P 500 added 7 to 1428, but the Dow slipped 18 to 10,880. Volume declined to 1.14 billion shares on the NYSE, but rose to 2.21 billion shares on the Nasdaq. Advancers led by 17 to 11 on the NYSE and 25 to 14 on the Nasdaq. October unemployment data is due out tomorrow morning. For earnings reports, visit our earnings calendar and reported earnings. For after hours quotes and news, visit our after hours trading site.
traded down after the company matched reduced estimates but announced the departure of CFO Heidi Miller. Qualcomm
soared 10% after beating estimates by a penny.
was the latest beaten-down Net name to lead the ISDEX higher, soaring 3 7/8 to 22 1/2. Internet Capital Group
rose 2 15/16 to 18 7/16 on comments from CS First Boston that five of ICGE's portfolio firms could go public.
in the mid-20s, announced that he will double his investment in America Online
to $2 billion. AOL rose 1.95 to 53.95.
imploded 3 25/32 to 2 15/16 after the company warned that it would miss 4th-quarter estimates, and announced that president and CEO Harold Willis will step down.
rose 6 1/2 to 82 3/8 on a Lehman Brothers Buy rating.
added 1/16 to 6 1/4 after beating estimates by 3 cents with a 24-cent loss. NetZero
tacked on 1/16 to 1 15/16 after beating estimates by 3 cents with a 22-cent loss. Looksmart
, up 1 1/4 to 9 21/32, beat estimates by a nickel with a 7-cent loss.
rose 2 1/16 to 33 7/16 on an alliance with IBM
.
added 11/16 to 10 11/16 on a Wall Street Journal story that said the company could benefit from the alliance between Napster and Bertelsmann to encode music files to be sold through subscriptions.
surged 12 15/16 to 84 3/4 on a CIBC Strong Buy rating and $90 price target.
, which reports earnings Nov. 6, rose 3 7/8 to 56. JDS Uniphase
gained 2 5/16 to 80 7/8, and Juniper Networks
rose 11 7/8 to 195 1/4.
added 2 1/2 to 17 13/16, continuing to gain on comments from a Microsoft official that Linux on the PC represents the greatest threat to the software giant. Also, IBM announced that it will install 15,000 Linux servers in Japan.