internet.com’s Internet Stock Index had jumped almost 2 percent in midday trading, largely on the strength of Amazon.com Inc. which Wednesday unveiled a major e-commerce announcement.
Just before noon, the ISDEX had climbed 9.97, or 1.92 percent, to 529.09, the Nasdaq Composite was up 1.52 to 2,757.77 and the Dow Jones industrial average was up 14.57 to 10,290.10.
Amazon.com (AMZN) had jumped 11-3/16 to 77-1/16. The company Wednesday unveiled what will essentially be a virtual online mall, allowing individuals and small businesses to sell a variety of items to Amazon.com customers. The online retailer will also handle all the billing services.
EToys Inc. (ETYS) had climbed 9 to 68-5/8 after Goldman Sachs raised its rating to “trading buy” from “market outperform.” The company also set an $80 price target over the next 12 months.
Internet telephony software maker VocalTec Communications Ltd. (VOCL) was up 1-5/8 to 14-5/8. The company announced it was teaming with Cisco Systems Inc. (CSCO) to develop and market Internet telephone systems to service providers.
Network Solutions (NSOL) had climbed 2-7/16 to 87-15/16. Lehman Brothers reiterated its “buy” rating after the company resolved its long-running dispute with the U.S. Department of Commerce.
Other strong movers included Excite@Home (ATHM) up 4-1/4 to 42-5/8, Doubleclick Inc. (DCLK) adding 6-1/16 to 119-7/8, CMGI Inc. (CMGI) up 2-3/16 to 100-3/4 and Lycos Inc. (LCOS) climbing 2-5/32 to 50-7/16.
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