Internet Gains Muted Despite Strong Results

Internet stocks were up modestly in midday trading Thursday despite a wave of
better-than-expected earnings.

At 11:45 a.m. Eastern,’s Internet Stock Index had risen 8.40,
or .98 percent, to 863.63, the Nasdaq Composite was up 24.79 to 4,079.70 and
the Dow Jones industrial average was up 61.50 to 11,094.49.

Gainers included Exodus Communications Inc. (EXDS)
, up 6 to 126 after Paine Webber’s John Hodulik came out with a 175 price
target. Salomon Brothers also hiked its target by $15 to $155 and Jefferies
& Co. raised its price target to $160.

Sycamore Networks Inc. (SCMR)
was up 2-13/16 to 302-7/8. The fiber-optic equipment company late Wednesday
announced a 3-for-1 stock split.

Real Networks Inc. (RNWK)
had gained 2-7/8 to 172-3/4. The streaming media giant Tuesday reported
better-than-expected quarterly results.

Healtheon/WebMD Corp. (HLTH)
was up 4-13/16 to 71-1/8. The company Thursday announced mutual fund manager
Janus Capital Corp. is investing $930 million and will receive 15 million
shares. Networks Inc. (WOMN)
was up 1-7/8 to 13-7/8. The Web site for women reported a
lower-than-expected loss and said its revenue tripled in the quarter.

Etoys Inc. (ETYS)
was off 3-5/16 to 17-15/16. The online toy retailer reported a quarterly
loss of 52 cents a share, matching analyst estimates.

Commerce One (CMRC)
had gained 4 to 189 after falling big on Wednesday. The electronic commerce
company reported a quarterly loss of 16 cents a share, 1 cent lower than

Broadvision Inc. (BVSN)
had fallen 2-5/16 to 149-3/4. The company reported a fourth-quarter income
of 9 cents a share, 3 cents better than forecasts.

Allaire Corp. (ALLR)
was off 4-7/8 to 167. The maker of Web development software announced a
2-for-1 stock split.

Get the Free Newsletter!

Subscribe to our newsletter.

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

News Around the Web