Florida Fiasco Takes Toll On 'Net Tickers
They may still be fighting over the presidential vote count in the Sunshine State, but for Internet investors, the election results are in - and everybody lost.
All 13 'Net sectors were down this week as the turmoil in Florida forces the market into a defensive shell. Some more bad earnings reports and the Fed's continued anti-inflation stance, which leaves open the threat of interest-rate hikes, don't help.
At least the freefall that ensued in the first few days after the nation voted has abated. If a victor emerges over the weekend in Florida - or, more precisely, if a candidate finally concedes - then the market could shift into gear. However, if there is no firm resolution, look for more wheel-spinning. Unless, of course, the presidential battle drags on and on, in which case the market may finally ignore the whole depressing thing and get on with its business.
*Market Cap figure is in millions unless otherwise noted.
PERFORMANCE BY SECTOR Ave. 7-Day % Change Security -2.6% Wireless -6.1% Performance Software -7.3% E-commerce Enablers -7.6% Content/Communities -9.5% Search/Portals -10.0% Financial Services -10.6% Consultants/Designers -11.7% E-tailers -11.8% Internet Services -11.9% Speed/Bandwidth -12.1% ISPs/Access Providers -12.9% Advertising/Marketing -13.7% TOP 10 GAINERS 7-Day % Gain Category MPPP MP3.com 65.0% Content/Communities MDCM Mortgage.com 50.1% Financial Services USIX USinternetworking 39.0% Internet Services EMUS EMusic.com 37.5% E-tailers EPRS Eprise 34.5% Performance Software ECRU E-Cruiter.com 34.0% Internet Services PPOD Peapod 33.3% E-tailers SCRM ScreamingMedia 26.0% Content/Communities XCAR XCare.net 24.1% E-Commerce Enablers LQID Liquid Audio 22.5% E-Commerce Enablers OMNY OmniSky 22.4% Wireless TOP 10 LOSERS 7-Day % Loss Category VCIX Virtual Communities -83.3% Performance Software GDEN Garden.com -70.0% E-tailers NENG Network Engines -61.5% Speed/Bandwidth ICGE Internet Capital -45.4% Financial Services FUSN Fusion Networks -44.4% Internet Services TFSM 24/7 Media -44.1% Advertising/Marketing PASA quepasa.com -40.0% Content/Communities DSLN DSL.net -38.6% ISPs/Access Providers VCNT Vicinity Corp. -38.0% Internet Services IBEM iBEAM -37.9% Speed/Bandwidth ******************************************************************** WIRELESS PRODUCTS/SERVICES 11/15 7-Day 7-Day 1-Month YTD Market Company $Close $Change %Change %Change Cap OMNY OmniSky 12.13 2.22 22.4% N/A N/A 790.0 MCOM Metricom 15.81 1.44 10.0% -45.5% -75.8% 485.7 WFII Wireless Facil. 51.13 3.13 6.5% -24.7% 35.1% 2.2B PRTH Parthus Tech. 29.38 -0.63 -2.1% -8.7% N/A 1.5B IWAV interWAVE 4.19 -0.13 -2.9% -49.0% N/A 202.9 ULCM Ulticom 49.00 -2.31 -4.5% -18.1% N/A 1.8B GOAM GoAmerica 9.69 -0.50 -4.9% 6.7% N/A 497.7 IIIM i3 Mobile 6.31 -0.44 -6.5% -21.2% N/A 144.0 PHCM Phone.com 90.31 -6.56 -6.8% 1.1% -11.7% 7.5B AETH Aether Systems 106.75 -8.69 -7.5% -38.0% 24.6% 4.2B HAND Hands