Internet stocks were managing to hold onto gains in mid-session Friday outpacing the broader indices which were all lower.
Just before midday, internet.com’s Internet Stock Index was up 4.27, or .88 percent, to 489.90, the Nasdaq Composite had shed 2.41 to 2,541.74 and the Dow Jones industrial average was off 16.15 to 10,825.48.
Continuing on the IPO front, Mail.com Inc. (MAIL) had jumped 1-1/2 to 8-1/2. The e-mail messaging provider, whose clients include Time Warner, NBC and Snap.com, sold 6.85 million shares at 7 raising almost $48 million.
Priceline.com Inc. (PCLN) was up 4-5/8 to 93-9/16 as investors applauded the appointment of Daniel Schulman as the company’s president and chief operating officer. Schulman comes to Priceline.com from AT&T where he was chief of its consumer division.
Thomas Weisel Partners also initiated coverage of Inktomi with a “strong buy.”
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