Internet investors were taken for a wild ride Thursday as U.S. markets seesawed in and out of positive territory before managing to end in the black.
internet.com’s Internet Stock Index was up 3.37, or .62 percent, to 548.63,
the Nasdaq Composite lost 0.35 to 2,800.92 and the Dow Jones industrial
average closed up 39.57 to 10,271.73.
About.com (BOUT)
rose 3 to 52-3/4. The web guide company had beat earnings estimates. The company posted a net loss of $1.08 per share, which compares to the First Call estimate of $1.27 per share.
CNET Inc. (CNET)
fell 2-1/16 to 54-7/16. The company purchased Savvy Search Ltd. for
$22 million in cash and stock.
As for the Net leaders, Ariba Inc. (ARBA)
was off 6-5/8 to 163-1/2, eBay (EBAY)
was up 4-5/8 to 141-5/8, Broadvision Inc. (BVSN)
fell 6-9/16 to 154-11/16 and CMGI Inc. (CMGI)
climbed 4-1/4 to 104-1/4.
Yahoo! Inc. (YHOO)
surged 5-13/16 to 173-3/8. The company Thursday inked a deal with Motorola Inc. (MOT) to enable users of Motorola’s wireless telephones to access Yahoo! content.
Priceline.com Inc. (PCLN)
had slipped 2-1/4 to 70. The company late Wednesday announced it had
sued Microsoft Corp. (MSFT)
. Priceline is accusing Microsoft of using confidential information it shared during partnership negotiations to start its own competing service on Expedia.
AdForce (ADFC)
rose 1-3/16 to 26-1/16. The company reported a 34 cent loss, which was 4 cents better than First Call projections.
Redback Networks Inc. (RBAK)
had tumbled 5-11/16 to 129-3/8. The company reported a third-quarter loss of $1.6 million, or 4 cents a share, compared to $2.6 million or 44 cents a share a year ago.
Finally, Charles Schwab Corp. (SCH) had climbed 1-13/16 to 29-7/8 after saying its third-quarter profits rose 27 percent from a year ago.
On the IPO front,
Igo Corp. (IGOC)
rose 2-1/16 to 14-1/16. The company sells hard-to-find computer and
cell phone accessories from its Web site. The company sold 5 million
shares at $12 each, raising $60 million. The lead underwriter was
Robertson Stephens.
Netcentives (NCNT)
inched up 1/16 to 12-9/16. The company develops direct marketing
technology. The lead underwriter is CS First Boston. The company issued 6 million shares, raising $72 million.
NetRadio (NETR) fell 1 to 11. The
company is a provider of music over the Web. NetRadio raised $35 million. The lead underwriter is Gerard Klauer Mattison.
Finally, Cysive Inc. announced that it has raised its price range from
$11-$13 to $14-$16. The company helps provide eBusiness services. The
lead underwriter is Thomas Weisel Partners. The proposed ticker symbol is CYSV.
ALL NEW! internet.com’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
