Real Networks' Leads Internet Stocks Higher
Page 1 of 1
Shares of Real Networks Inc. jumped more than 25 percent Tuesday as Internet issues caught fire in the afternoon in a session where technology stocks outpaced big-cap industrials.
Internet.com's Internet Stock Index climbed 25.87, or 4.37 percent, to 617.76 while the Nasdaq Composite continued its record-setting run, adding 3.10 to close at 2,563.16. The Dow Jones industrials broke away to end off 43.84 to close at 9,963.49.
One of the day's most stellar performers was streaming media company Real Networks (RNWK) which soared 40-15/16 to end at 195-7/16. Internet analyst Jamie Kiggen at Donaldson Lufkin & Jenrette rated the stock a "buy." He went on to say the company stands to benefit from "tremendous anticipated growth in broadband access."
Internet advertising firm DoubleClick Inc. (DCLK) skyrocketed 25-7/16 to 121. The stock was rated a "strong buy" by Tara Long, who follows the Internet ad market for C.E. Unterberg Towbin. She set a price target of 150 over the next 12 months.