Shares of electronic commerce plays were higher in midday trading
Monday on a wave of deals, kicking off a week that will be flooded
with earnings announcements.
Just after 1 p.m., internet.com’s Internet Stock Index had fallen
10.51, or 1.91 percent, to 540.56, the Nasdaq Composite was off 20.93
to 2,843.55 and the Dow Jones industrial average was off 15.51 to
was up 7 to 41. The online ticket seller and Microsoft Corp. Monday
reached a deal that will give Ticketmaster the city guides in MSN’s
Sidewalk. Microsoft will also take a 9 percent stake in TMCS, which
could go as high as 13 percent if all warrants are exercised.
Ticketmaster will also develop localized arts and entertainment guides
that will be delivered on a new MSN local channel.
Priceline.com Inc. (PCLN)
was up 3-27/32 to 101-1/4 after reporting better-than-expected
second-quarter revenues. The company also reached a deal with
Continental Airlines to offer that carrier’s tickets on its service.
E*Trade Group Inc. (EGRP)
fell 2-1/16 to 35-7/16 despite reporting higher-than-expected
quarterly results. The online broker lost 10 cents a share in the
third quarter, 2 cents ahead of analyst estimates.
Several other sector leaders were down, including Yahoo! Inc. (YHOO)
off 1-1/16 to 149-3/16, CMGI Inc. (CMGI)
down 5-9/16 to 103-3/4, eBay Inc. (EBAY)
down 3-11/32 to 119-5/8, Amazon.com
off 4-3/16 to 133-7/16 and Inktomi
off 7-1/4 to 115-3/4.
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