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