Hackers No Match for Market

Internet stocks surged higher from their mid-day levels despite continued
media coverage of “hacker attacks” affecting many of the Web’s most heavily
populated sites.

CMGI announced a strategic acquisition that will compliment
and add to its high-profile portfolio of B2C and B2B e-commerce sites.
Network Solutions surprised analysts and was rewarded in Thursday’s trading.

internet.com’s Internet Stock Index climbed 29.40, or 3.19 percent, to
951.73, the Nasdaq Composite was up 122.37, or 4485.61 and the Dow Jones
industrial average fell 55.53 to 10643.63.

Network Solutions Inc. (NSOL)
rocketed 36-5/16 to 292-5/16 after the domain registrar reported a
fourth-quarter profit of 25 cents a share. That beat forecasts by 2 cents.

Online auctioneer uBid Inc. (UBID)
gained 3-11/32 to 30-1/2 on news that it is being acquired by CMGI Inc. (CMGI)
for $407 million in stock. CMGI shares finished down 2-3/4 to 117-3/4. The
acquisition marks CMGI’s entrance into the business to-consumer and
business-to-business auction spaces. Chief executive officer of uBid, Greg
Jones pointed to his company’s auction technology and services as just some
of the potential synergies, in a conference call to investors.

eGain Communications (EGAN)
added 1/2 to 43-1/2. The company announced that Walgreens is the latest
company to sign up for its e-mail management solution. Reporter@Large-Luke
Fronefield featured eGain in a two-part series (Part 1/Part 2).

Tumbleweed Communications Corp. (TMWD)
jumped 10-1/8 to 78-1/8. The provider of e-mail solutions for e-commerce companies got a boost from U.S. Bancorp Piper Jaffray’s Hany Nada
who initiated coverage Thursday with a “strong buy.”

CyberShop.com Inc. (CYSP)
matured 3/4 to 5-15/16. The online department store Thursday announced plans
to shutter its retail operations to raise money for a new Internet incubator
to be launched soon.

AppNet Inc. (APNT)
rose 18-5/8 to 70. The Internet consulting firm Thursday reported several
large contract wins and said demand is growing for its Web consulting

On the downside, FreeShop.com Inc. (FSHP)
slipped 1-7/16 to 40. The Internet marketer filed this week to sell an
additional 3 million shares and reported a wider fourth-quarter loss.

Subscribe to internet.com’s HotWatch, a monthly e-mail newsletter
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. 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.

Get the Free Newsletter!

Subscribe to our newsletter.

Subscribe to Daily Tech Insider for top news, trends & analysis

News Around the Web