Deals Continue to Roll In

A merger between two leading Internet plays was once again grabbing the attention of investors Tuesday in a week that has so far been dominated by deals.

Just after midday,’s Internet Stock Index was up 1.24, or .22 percent, to 552.66, the Nasdaq Composite was up 2.77 to 2,781.00 and the Dow Jones industrial average had fallen 42.75 to 11,132.27. Inc. (EGGS) was up 1/16 to 12-1/8 and online auctioneer Onsale (ONSL) had slipped 13/16 to 21-11/16.

The two companies Wednesday announced they were merging in in a stock deal valued at $400 million.

Yahoo! Inc. (YHOO) was up 1-3/4 to 158-11/16. Yahoo!’s Japan unit said its first-quarter pre-tax profits rose almost 700 percent as online advertising continues to grow.

[email protected] Corp. (ATHM) was down 9/16 to 49-3/8. [email protected] and Unilever inked a broadband advertising deal that will showcase Unilever’s products. The deal is the largest investment any consumer products company has made in broadband advertising.

Inktomi Corp. (INKT) rose 2-9/16 to 128-1/8. The company is set to report earnings after Wednesday’s market close. Analysts are expecting a 12-cent loss compared to a 13-cent loss a year ago. Inc. (AMZN) had climbed 1-1/4 to 127-3/8. The company formed a strategic alliance Wednesday with online sporting goods retailer

EarthLink Network Inc. (ELNK) was off 1-3/8 to 64. The company Wednesday launched a nationwide Digital Subscriber Line service for consumers.

Other strong gainers included Redback Networks Inc. (RBAK), up 6 to 153-1/2, Exodus Communications (EXDS) was up 6-1/2 to 142 and Juniper Networks Inc. (JNPR) had climbed 7 to 132.

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