Cable Internet provider @Home Corp. was continuing to take it on the chin in mid-session trading Monday following a ruling that will force the company to open its high-speed network to competitors in Portland, Ore.
Just after noon, internet.com’s Internet Stock Index was up 11.53, or 2.37 percent, to 498.11, the Dow Jones industrial average was up 55.09 to 10,854.93 and the Nasdaq Composite had climbed 27.54 to 2,505.88.
Shares of @Home Corp. (ATHM) were down 3-1/2 to 91 after a federal judge Friday ordered AT&T to open its broadband network to competitors in Portland, Ore. AT&T is one of @Home’s largest shareholders. Many are speculating the Portland ruling could eventually be expanded to cover all of @Home’s territories.
Online brokers recouped some of last week’s losses that came after Merill Lynch and Paine Webber both announced plans to offer online trading.
E*Trade Group Inc. (EGRP) was up 2-9/16 to 40-1/4. E*Offering, the online investment bank backed by E*Trade, launched a new Web site Monday and announced its first initial public offering. Other online brokers were also moving higher, including National Discount Broker Group (NDB), up 2-15/16 to 42-15/16, Charles Schwab (SCH) was up 2-1/2 to 103-1/2 and Ameritrade Holding Corp. (AMTD) was up 5-13/16 to 87.
Amazon.com Inc. (AMZN) was up 3-5/16 to 111-3/4. The online retailer of books, music and videos said Monday it expected to serve its 10 millionth customer later in the day, making it the first e-tailer to hit that milestone.
Copper Mountain Networks (CMTN) was off 2-1/8 to 62-1/4. The maker of DSL equipment was rated “neutral” in new coverage by Morgan Stanley Dean Witter’s Alkesh Shah.
CMGI Inc. (CMGI) jumped 8 to 102-1/4. The Internet incubator said Dell Computer Corp. and Microsoft Corp. had bought stakes in CMGI holding Navisite Inc. Navisite is a Web hosting firm.
Etoys Inc. (ETYS) gained 4-1/4 to 53-3/16. The company Monday announced it will begin selling children’s clothing and baby items.
Perfumania Inc. (PRFM) gained 7/8 to 3-15/16. The company announced plans to sell 33 percent of the company in an initial public offering. Shares are expected to sell for $7 to $9.
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