Internet Providers Having Good Day

Internet providers were performing well in mid-session Tuesday in what is turning out to be a good day for the sector.

Just after noon,’s Internet Stock Index was up 3.81, or .73 percent, to 526.98, the Nasdaq Composite was off 11.72 to 2,618.56 and the Dow Jones industrial average was off 67.44 to 10,748.54.

EarthLink Network Inc. (ELNK) had soared 11-1/8 to 58-3/4 on rumors that Gateway Inc. might bid on the ISP.

Concentric Network Corp. (CNCX) was up 1-3/8 to 33-7/8 after announcing Microsoft Corp. (MSFT) will invest $50 million as part of an expanded business relationship. Concentric will establish a co-branded version of Microsoft’s MSN portal and will co-market Windows NT application hosting services. Concentric will also spent $7.5 million to market its services on MSN.

Other ISPs going higher include Mindspring Enterprises Inc. (MSPG) up 6-7/8 to 76-13/16 and PSINet Inc. (PSIX) up 2 to 46-7/8. Inc. (PCLN) leaped another 9-7/16 to 115-3/4. That company’s shares have soared 34 percent over the past five sessions.

StarMedia (STRM) was up 3 to 53 on reports it is opening new branches in Spain.

eBay Inc. (EBAY) was up 1-15/16 to 154 after trading as high as 160. The online auctioneer Tuesday acquired AG, a leading auction site in Germany. Inc. (AMZN) was up 1-3/8 to 124-7/8. The company Tuesday said it had retained two recruiting firms to search for its first chief operating officer and a new chief financial officer.

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