Economic Reports, Fed Comments Bring Down Stocks

Renewed strength in U.S. factory orders combined with cautionary comments from Federal Reserve governor Edward Kelly put pressure on markets throughout the day causing all major indices to end the day in the red..

internet.com’s Internet Stock Index ended off 3.99, or .83 percent, to
474.64, the Nasdaq Composite lost 16.52 to 2,734.28 and the Dow Jones
industrial average dropped 99.10 to 10,838.78.

As for the Net leaders, Amazon.com (AMZN)
, whose shares split 2-for-1 after Wednesday’s close, was closed up 21/32 to
60-3/16, America Online Inc. (AOL)
increased 1/4 to 91-1/8, Ariba (ARBA)
dipped 3 to 131, Yahoo! (YHOO)
dropped 1-3/4 to 141-9/16 and eBay Inc.
(EBAY)
fell 1/2 to 121-7/16.

After plunging yesterday, Juniper
Networks
(JNPR)
roared 18-3/8 to 198-5/8 Thursday. Yesterday, shares faultered after the company announced a
secondary offering.

About.com (BOUT)
gained 3 to 35-1/2. Bear Stearns raised its rating on the stock from
“attractive” to “buy.”

Beyond.com Corp. (BYND)
climbed 7/16 to 17-1/8. The company won a government contract
which could be worth up to $30 million to supply Corel Corp. software to
the U.S. Department of Defense. Corel
Corp.
(CORL)
was up 7/16 to 5-15/16.

iVillage Inc.(IVIL)
slumped 1-7/16 to 34-1/2. The company late Wednesday purchased
privately-held FamilyPoint.com for
about $26 million in cash and stock.

Priceline.com Inc. (PCLN)
closed off 1-9/16 to 64-1/32. Priceline on Thursday expanded its
“name-your-price” new car shopping service.

E-Loan Inc. (EELN)
was off 2 to 31-1/16 after falling as low as 29-9/16 earlier in the
session. Sutro & Co. Thursday initiated coverage with a “hold” rating.

The research firm Jupiter Networks set the terms of its IPO today, with the
price range at $15-$17. The lead underwriter is Donaldson, Lufkin &
Jenrette.


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