Inktomi Soars on Wireless Deal

Shares of Inktomi Corp. were the standout at the midpoint of Tuesday’s trading session. The Internet software maker sealed a variety of deals with companies planning wireless initiatives.

At 12:15 p.m. Eastern,’s Internet Stock Index was up 1.81, or .17 percent, to 1,072.46, the Nasdaq Composite was off 11.86 to 4,895.38 and the Dow Jones industrial average had added 31.64 to 9,978.77.

Inktomi (INKT) had soared 24-1/2 to 213-1/2. The company signed deals with Sun Microsystems Inc. (SUNW) and Spyglass Inc. (SPYG) to adapt its delivery optimization technology to wireless devices. Corp. (MCAF) had leaped 5-1/2 to 51-1/4. The antivirus software site and parent Network Associates Inc. (NETA) will provide online virus scanning technology to users of Microsoft Corp.’s (MSFT) Hotmail e-mail service. Corp. (INTM) had jumped 6-1/2 to 61. U.S. Bancorp Piper Jaffray reiterated its “strong buy” on the publisher of this Web site, setting a $150 target.

Ask Jeeves Inc. (ASKJ) had gained 2-3/4 to 80-1/4. The search firm priced a secondary offering of 2.1 million shares at $76 each. Goldman Sachs is leading the offering.

Adaptive Broadband Corp. (ADAP) was off 15-1/2 to 162-5/8 after hitting 193 earlier in the session. The high-speed wireless equipment maker announced a 2-for-1 stock split.

Ariba Inc. (ARBA) was off 3 to 295 after hitting 316-1/2. Dell Computer Corp. late Monday took a stake in the electronic commerce software maker and unveiled plans to use Ariba’s technology to implement an online purchasing initiative.

Two IPOs hit the Street Tuesday. RADVision Ltd. (RVSN) had jumped 38-3/4 to 58-3/4. The Internet software maker Monday sold 3.8 million shares at $20 each.

Online auction site FairMarket Inc. (FAIM) was up 29-1/8 to 46-1/8. The online auction operator sold 5 million shares at $17. Deutsche Bank Alex. Brown was the lead underwriter.

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