Internets Benefit From Positive Economic News

A lower-than-expected rise in prices paid to producers, farmers and
factories in July sent stocks soaring Friday.

The Labor Department reported the producer price index rose 0.2 percent
last month, up from a 0.1 percent decline in June. The PPI core rate, which
excludes volatile food and energy sectors, was unchanged after a 0.2
percent decline in June. That led stocks to surge as analysts were
expecting larger increases.’s Internet Stock Index soared 20.23, or 4.70 percent, to
450.90, the Nasdaq Composite was up 88.33 to 2,637.82 and the Dow Jones
industrial average vaulted 184.26 to 10,973.65.

Among the Internet stocks trading higher on the news was America Online Inc. (AOL)
up 4-1/16 to 96-13/16, Inc.
climbed 5-11/16 to 97-7/16, CMGI
up 4-9/16 to 81-1/2 and Yahoo! Inc.
moved up 4-7/16 to 132-13/16.

Other climbers included eBay Inc. (EBAY)
gaining 6-5/8 to 98, Exodus
Communications Inc.
jumping 6-3/16 to 67-1/4, Juniper
Networks Inc.
added 16-3/4 to 213-3/4 and Real
Networks Inc.
was up 4-7/8 to 75-1/4.

Intuit Inc. (INTU)
climbed 5-7/16 to 81-5/16. The financial software company Friday
acquired, a provider
of Web-based tax services. Terms of the deal were not disclosed.

Online brokers were also stronger. Ameritrade Holding Corp. (AMTD)
was up 1-1/4 to 23-3/4, E*Trade Group
up 1-3/4 to 26-1/8, National Discount
Brokers Group Inc.
had gained 2-5/16 to 34-1/4 and Southwest Securities Group Inc., (SWS) parent of, had added 1-1/2 to 33-7/16.

Linux software maker Red Hat Inc. (RHAT)
continued its strong climb. Shares had gained 12-5/8 to 85-1/4 in
their third day of trading.

Today saw a huge performance from another IPO.
Quest Software (QSFT)
soared 33 to 47. The company develops software solutions that link
commerce sites with legacy information systems.

Active Software (ASWX)
had its IPO today. The stock rose 3 to 14. The company develops
software for e-business.

ALL NEW!’s HotWatch a monthly e-mail subscription for $99,
featuring Internet Stock Report’s top 10 noteworthy Internet stocks for the month. Each month you will receive in-depth analysis on the top 10 Internet stocks to watch with the information you need to assess the fast-paced nature of Internet stocks. Staying on top of market changes in the Internet Stock market is what counts. For $99 per year, you receive 12 timely issues sent to you by e-mail. Don’t wait, our next issue will be out before you know it with a whole new
perspective on the market. Sign up today at: e-newsletters

News Around the Web