RealTime IT News

Internet Stocks Mixed On Relatively Quiet Day

Internet stocks ended Wednesday's session mixed as Internet.com's Internet Stock Index trailed the broader indices to finish lower.

The ISDEX ended unchanged at 510.61. Internet stocks lagged strong gains by other technology shares which helped push the Nasdaq Composite up 42.50 to 2,365.34. The Dow Jones industrial average finished a quiet day off 4.99 to 9,666.84.

America Online Inc. (AOL) closed off 3-1/2 to 117-1/2 after announcing plans to cut up to 1,000 jobs as it integrates Netscape Communications Corp. The stock was also downgraded to short-term "neutral" from short-term "buy" by Brown Brothers Harriman.

Shares of Yahoo Inc. (YHOO) added 5 to 160-1/2 amid continuing speculation it will buy Broadcast.com Inc. The Internet broadcaster's shares were down a fraction.

Internet auctioneer Onsale (ONSL) added 2-1/2 to 37. The site released a new feature Wednesday that allows consumers to see current bids on banner ads. The ads will run on major search engines.

CNET Inc. (CNET) closed up 4 to 98-1/2 a day after the company purchased KillerApp Corp., a comparison shopping provider.

DoubleClick Inc. (DCLK) climbed 12-7/8 to 179-7/8 after sealing an international ad sales partnership with Infoseek.

InfoSpace.com (INSP) closed up 4-7/8 to 81-7/8. The stock continued to benefit from the announcement earlier this week that gives US West's local online advertisers access to InfoSpace's affiliate network.

Lycos Inc. (LCOS) added 5-3/16 to 91-11/16 after Henry Blodget of Merrill Lynch reinstated his near-term "accumulate" rating.

EarthWeb (EWBX) rose 1-5/8 to 45-3/8 after acquiring MicroHouse International Inc., a provider of subscription-based reference libraries to technology professionals.

Network Solutions (NSOL) closed down 5-13/16 to 110.

Shares of Web hosting and Internet provider Verio (VRIO) ended off 2-1/2 to 43.

Investors once again eagerly snapped up an Internet IPO. Web community MiningCo.com Inc. (MINE) soared 22-1/2 to 47-1/2 after debuting Wednesday at 25. The offering raised about $75 million.