Big-Cap Internets Gain Amid Earnings Flood

Investors were coming back to Internet stocks in midday trading Wednesday as earnings continue to pour in across the sector.

Just before noon,’s Internet Stock Index was up 11.67, or 2.46 percent, to 485.32, the Nasdaq Composite had climbed 9.97 to 2,689.30 and the Dow Jones industrial average was up 8.23 to 10,987.22.

All of the sector’s leaders were higher, including America Online Inc. (AOL) up 2-5/8 to 100-13/16, Yahoo! Inc. (YHOO) rising 6-13/16 to 138-1/8, CMGI Inc. (CMGI) up 5-11/16 to 95-15/16 and Corp. (ATHM) up 4-3/8 to 105-3/8. Inc. (PCLN) had jumped 8-21/32 to 82-5/16. The company Wednesday teamed with Auto Nation Inc. to allow users to bid on new cars.

Bluefly Inc. (BFLY) had climbed 1-3/4 to 11-7/8. A group of investors led by George Soros invested $10 million in the online retailer of discounted designer clothing.

eToys (ETYS) fell 1-25/32 to 37-1/2. The online toy retailer reported a fiscal first quarter operating loss of $17.9 million, or 17 cents a share. That beat analyst estimates by 2 cents.

Shares of Infospace (INSP) slumped 3-3/16 to 52. The company reported an operating profit of $409,000, or 1 cent a share. That’s substantially higher than analyst forecasts calling for a 4-cent loss.

Introducing Internet StockTracker, the new weekly e-mail newsletter from LLC. Every Friday will deliver to your e-mail
in-box the latest performance data on individual Internet companies and
their competitors. Internet StockTracker will deliver to you all the
statistics you need to assess the week’s activity.
Subscribe today and receive the Charter Rate of $157 — a savings of
$100 off the regular subscription price!

News Around the Web