Internet issues finished higher on Tuesday, gaining strength on a number of deals. Also boosting Net shares were positive comments from several analysts and optimism about the leading online advertising agency turning a profit by
the end of this year.
internet.com’s Internet Stock Index was up 22.38, or 2.69 percent, to
855.55, the Nasdaq Composite gained 66.49 to 4130.76 and the Dow Jones
industrial average fell 162.26 to 11560.72.
click2learn.com (CLKS)
added 1-3/4 to 14-3/16. The online enterprise learning solutions company
signed a deal with Vignette (VIGN)
to provide Vignette training certification to Vignette partners and
employees.
Ariba Inc. (ARBA)
announced that DuPont will use Ariba’s e-commerce network to purchase goods
and services at 24 of its business units across North America and Europe.
Shares of ARBA rose 6-1/8 to 179-1/2.
VerticalNet (VERT)
rocketed 23-13/16 higher to 163-1/2. The business-to-business portal
announced a joint venture with Softbank Commerce. The company will create
VerticalNet trading communities for the Japanese B2B Internet market.
E-Tek Dynamics Inc. (ETEK)
jumped 42-1/2 to 178-3/8 after announcing it would be acquired by JDS
Uniphase Corp. (JDSU). The companies aim to increase the capacity of fiber-optic communications
equipment. JDSU shares added 3-1/2 to 195-11/16.
Doubleclick Inc. (DCLK)
climbed 2-1/16 to 122-13/16. Lazard Freres’ Dana Serman told Barron’s
the company is expected to turn a profit this year.
Network Solutions Inc. (NSOL)
soared 42-9/16 to 280-5/16. The U.S. Supreme Court rejected an appeal
arguing its registration fees amounted to an unauthorized tax.
CMGI Inc. (CMGI)
lost 5-5/8 to 116-5/16. The company Tuesday purchased Internet broadcaster
Green Witch LLC.
Critical Path Inc. (CPTH)
rose 10-3/16 to 76-7/8. The company Tuesday signed a deal with Japan’s
Mitsui & Co. Ltd and NTT Communications Corp. to take its messaging platform
to the Asian nation.
Red Hat Inc. (RHAT)
plunged 15-7/8 to 116-3/8. The Linux distributor filed to sell an additional
2.75 million shares in a secondary offering.
American depositary receipts of Baltimore Technologies PLC (BALT)
soared 24-15/16 to 114. The software company Monday acquired GTE Corp.’s (GTE)
CyberTrust Solutions for $150 million in stock.
PSINet Inc. (PSIX)
climbed 7-25/64 to 92-1/2. The company announced a 2-for-1 stock split and
was awarded a license for a fixed-line telecommunications network from the
Hong Kong government. Also, Robertson Stephens reiterated its
“buy” rating.
Security software maker Entrust Technologies Inc. (ENTU)
lost 4-1/8 to 58-3/4. The company signed a multimillion deal with Royal Bank
of Canada who plans to use the software to secure Web transactions.
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