Internet stocks fared better than techs and blue chips Thursday, moved
forward by several better-than-expected earnings reports.
internet.com’s Internet Stock Index rose 6.60 to 861.82, the Nasdaq
Composite fell 30.35 to 4039.56 and the Dow Jones industrial average slipped
4.97 to 11028.02.
CMGI (CMGI)
added 1-1/4 to 112-1/4. Lazard Freres initiated coverage of the incubator
with a “buy” rating and $170 price target.
Andover.net (ANDN)
matured 1-5/8 to 32-7/8. The Linux hub announced the acquisition of of
QuestionExchange.com, a support site for Linux and Open Source.
Etoys Inc. (ETYS)
lost 4-3/8 to 16-7/8. The online toy retailer reported a quarterly loss of
52 cents a share, matching analyst estimates. Investors are concerned
following the announcement that competitor, KBKids.com has filed for an IPO.
Gainers included Exodus Communications Inc. (EXDS)
, up 9-15/16 to 129-15/16 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)
rose 13-3/16 to 313-1/4. The fiber-optic equipment company late Wednesday
announced a 3-for-1 stock split.
Real Networks Inc. (RNWK)
gained 4-15/16 to 174-13/16. The streaming media giant Tuesday reported
better-than-expected quarterly results.
Healtheon/WebMD Corp. (HLTH)
jumped up 4-3/4 to 71-1/16. The company Thursday announced mutual fund
manager Janus Capital Corp. is investing $930 million and will receive 15
million shares.
Women.com Networks Inc. (WOMN)
added 2-1/8 to 14-1/8. The Web site for women reported a
lower-than-expected loss and said its revenue tripled in the quarter.
Commerce One (CMRC)
fell 3-13/16 to 181-13/16 after falling big on Wednesday. The electronic
commerce company reported a quarterly loss of 16 cents a share, 1 cent lower
than expectations.
Broadvision Inc. (BVSN)
lost 5-15/16 to 146-1/8. The company reported a fourth-quarter income of 9
cents a share, 3 cents better than forecasts.
Allaire Corp. (ALLR)
plunged 18-3/8 to 153-1/2. The maker of Web development software announced a
2-for-1 stock split.
