Coming off April 14's 55-point drop, today's slight downside looks pale as ISDEX loses 2.3% or 14 points while the Dow and NASDAQ jump. I see that as a positive sign that the market isn't moving in a no-brainer concerted fashion. Nothing wrong with profit taking having a swipe at the Internet sector, which has outrun the Dow and NASDAQ by far all year long. Today's snapshot:
RealNetworks (NASDAQ:RNWK) agrees to acquire Xing for $75 million stock. Those asleep at the wheel pushed down RNWK shares over the last two trading sessions since the news despite Xing jumpstarting Real in the white-hot MP3 market with Xing's core compentency.
Excite (NASDAQ:XCIT) falls one cent short of analyst earnings expectations for first quarter with $0.04 EPS, excluding charges. Revenue doubles to $54.1 million and page views pop 33% to 77 million per day in March vs. December.
Inktomi (NASDAQ:INKT) loses $0.09 per share first quarter while First Call targets it at $0.12 loss per share. Revenue jumps from $3.5 million to $14.6 million. Inktomi's search service, which feeds several large portals, serves up 2.2 billion searches, up 22% sequentially.