InternetNews Staff

The Nasdaq Composite ended its worst week in history Friday with another bruising session that was particularly tough on Internet stocks. internet.com’s Internet Stock Index lost 74.24, or 10.60 percent, to 626.28, the Nasdaq Composite was off 354.99 to 3,321.79 and the Dow Jones industrial average plunged 616.23 lower to 10,307.32. PeaPod (PPOD) announced a […]

In a move that will expand its ASP business, Sonera announced yesterday its intentions to rent Microsoft software to its customers on the Internet. Sonera is the first Finnish company to partner with Microsoft (MSN) to provide online services. The agreement covers Microsoft BackOffice and Office 2000 for selected customers. Sonera provides advanced data communications […]

ShopNow.com Inc. Friday acquired application service provider Freemerchant.com for approximately $34 million. The deal includes $32 million in ShopNow.com (SPNW) common stock and $2 million in cash. Dwayne Walker, ShopNow.com chairman and chief executive officer, said the acquisition would dramatically expand the number of businesses and merchants in ShopNow’s commerce network. “Clearly, by growing our […]

Internet stocks were trading substantially lower at mid-day. Fueling the fall was a governement report stating that consumer prices rose 0.7 percent for the month of March, 0.3 percentage points higher than economists had expected. The Consumer Price Index (CPI) is the government’s primary scale for inflationary growth and the increase had investors fearing future […]

Despite rejection from the Hong Kong exchange for a waiver to issue new shares, hongkong.com is still interested in cooperating with BigStoreAsia.com, according to a source. A source told asia.internet.com that Rudy Chan, chief executive officer of hongkong.com said his firm is still interested in an alliance with BigStoreAsia.com. But terms and conditions would need […]

E-commerce solutions provider Iconomy.com signed an agreement with Internet banking services company Digital Insight to develop a global store, which Digital Insight will offer as an additional part of its AXIS e-commerce solution. Digital Insight said its clients will now be able to offer their customers online shopping as part of their Internet banking experience. […]

Internet companies first quarter results continue have generally bested analysts expectations. Yesterday, Juniper Networks (JNPR) reported income of $8.1 million, or $0.05 per share after the market close. Analysts had expected the infrastructure play to earn only $0.03 per share. Revenues rose to $63.9 million in the quarter, a sequential increase of 41% over $45.4 […]

Internet stocks…how low can they go? That is the prevailing question on the minds of Internet stock investors. After rebounding to positive levels in mid-day trading, shares plunged again as investors especially punished the incubator and business-to-business e-commerce sectors. internet.com’s Internet Stock Index lost 42.01, or 5.66 percent, to 700.52, the Nasdaq Composite fell 92.85 […]

CMGI‘s (CMGI) AltaVista portal and retailer Musicland Stores Corp. (MLG) Thursday struck a co-marketing deal that leverages AltaVista’s online brand equity and Musicland’s 1,345 stores. Musicland will become a premier provider on Altavista Shopping.com, where it will offer nearly one million products in the music, movies, books, and game software departments. Musicland’s main e-commerce site, […]

Start-up MediaInternet.com launched on Thursday, joining the ranks of those hoping to capitalize on the online media buying business. The new online entity promises to offer services to advertising agencies that should streamline the information gathering and planning programs of media buyers. “We had a team of rocket scientists who were underpaid by the government,” […]

Investors looking for a company that combines the best of critical mass and vertical communities might want to think about About.com (BOUT). Its site now ranks #10 on Media Metrix’s top 50, with 13 million unique visitors per month. The company offers a portal-like interface with 28 main channels of content that are divided into […]

In preparation of the launch of IBM’s latest version of its flagship database targeting e-businesses and ASPs, the company is offering ASPs new licensing programs. IBM plans to ship DB2 Universal Database Version 7 sometime within the next three months. IBM will introduce new licensing programs for ASPs to help support this launch, and the […]