A major deal in the Internet sector was about the only thing investors could get excited about Monday during a light trading session.
Monday marked the lightest trading day of the year on the NYSE and the Nasdaq Composite came within one point of setting a record high.
internet.com’s Internet Stock Index rose 1.60, or .32 percent, to 496.99, the Nasdaq Composite was up 15.97 to 2,885.59 and the Dow Jones industrial
average inched-up 5.39 to 10,809.02.
announced that it will purchase AdForce (ADFC)
, which develops ad serving and profiling technology. The price is
about $500 million in CMGI stock. AdForce was up 3/4 to 20-1/4 and CMGI
rose 3-7/16 to 83-7/16.
Sara Zeilstra of Warburg Dillon Read Monday raised her rating on Priceline
to a “strong buy” from a “buy” and set a $125 12-month price target. Also,
US Bancorp Piper Jaffray reiterated its “strong buy” on Yahoo!.
VeriSign Inc. (VRSN)
was up 5-3/4 to 116 after Credit Suisse First Boston’s Todd Raker
initiated coverage with a “buy” rating. He considers the company to be the
clear leader in the digital certificate market.
On the IPO front, the online wedding company The Knot filed to go public.
The lead underwriter is CS First Boston.
ALL NEW! internet.com’s HotWatch a monthly e-mail subscription for $99,
featuring Internet Stock Report’s top 10 noteworthy Internet stocks for the month. Each month you will receive in-depth analysis on the top 10 Internet stocks to watch with the information you need to assess the fast-paced nature of Internet stocks. Staying on top of market changes in the Internet Stock market is what counts. For $99 per year, you receive 12 timely issues sent to you by e-mail. Don’t wait, our next issue will be out before you know it with a whole new
perspective on the market. Sign up today at: e-newsletters