RealTime IT News

Broadcast.com Leap Helps ISDEX Move Higher

A strong gain by Internet broadcaster Broadcast.com helped Internet.com's Internet Stock Index post a small gain while the major market indices all posted losses.

The ISDEX gained 9.20, or 1.74 percent, to close at 538.74. The Nasdaq Composite fell 22.45 to 2,398.82 and the Dow Jones industrial average again missed the 10,000 mark, losing 13.04 to 9,890.51.

The day's biggest Internet gainer was Broadcast.com (BCST) which skyrocketed 31-1/2 to close at 116-1/2.

The stock continued to benefit from reports emerging over the weekend which said Yahoo! may be moving to acquire the company. Yahoo! (YHOO) shares lost 5 to close at 165.

Broadcast.com's gain also helped out streaming media competitor INTERVU (ITVU) which jumped 13-5/8 to 47.

Go2Net Inc. (GNET) jumped 33-13/16 to 151-1/16 after the company's board approved a plan by Microsoft co-founder Paul Allen to gain control of Go2Net. Allen plans to invest up to $320 million and will hold at least 34 percent of the company's stock once the deal goes through.

Go2Net operates several Web sites and develops Internet software.

Shares of Internet advertising company DoubleClick Inc. (DCLK) gave back a gain of more than 14 to close down 2-3/4 to 177. The company's shares had been up earlier in the day after it announced a contract to supply advertising information to high-speed Internet access clients of cable firm Comcast.

CNET Inc. (CNET) gained 5-3/8 to 93-1/4. Snap!, the portal jointly owned by CNET and NBC, Monday rolled out a new service designed for high-speed Internet users and announced partnerships with several advertisers.

America Online Inc. (AOL) climbed 10 to end at 129-11/16. The online service was reiterated a "strong buy" by ING Furman Selz which predicted shares will reach 180 in nine months.

Network Solutions Inc. (NSOL) lost 43-1/4 to close at 244-3/4 after hitting 307-1/2 earlier in the day. The domain registrar Monday unveiled a new Web site that attracted some criticism. Some users complained of broken scripts and objected to the way information was reorganized.