Internet stocks surged higher Monday, determined to make up for time that would be lost later in the week.
internet.com’s Internet Stock Index was up 22.58, or 3.31 percent, to 705.49, the Nasdaq Composite had gained 23.28 to 3,392.53 and the Dow Jones industrial average was up 85.63 to 11,089.52.
CMGI Inc. (CMGI) jumped 18-3/8 to 143-1/4. The Internet holding company Monday announced a new venture fund of up to $1 billion, called the CMGI Ventures B2B Fund, that will invest in business-to-business e-commerce companies.
Data Broadcasting Corp. (DBCC) rose 15/16 to 11-11/16. The company, which provides online financial data, signed a deal with Phone.com (PHCM) to allow wireless users to access financial information. Shares of Phone.com were up 13-3/8 to 145.
Online advertising companies benefitted from an announcement that several had joined to participate in a new alliance designed to standardize industry practices. Participants will include Doubleclick Inc. (DCLK) , which jumped 8-5/16 to 158, Flycast Communications Corp. up 8-5/16 to 62-9/16, Adforce Inc. (ADFC) which gained 4-11/16 to 36-5/16 and 24/7 Media Inc. (TFSM) which closed up 2-1/4 to 53-3/8.
internet.com Corp. (INTM) surged 6-1/16 to 52-3/4. The company, which publishes this Web site, announced an agreement with VNU International, based in the Netherlands, to create a joint venture to operate local sites in the UK, Scandinavia, Spain, France, Belgium, the Netherlands and Italy.
Net Perceptions (NETP) climbed 6-3/4 to 38. The company, which is a developer of Web content filtering technology, will integrate its products into Vignette’s (VIGN) StoryServer content platform. Vignette was up 3-3/4 to 175-3/4.
Prodigy Communications Corp. (PRGY) ended off 1-1/8 to 31 and SBC Communications Inc. (SBC) lost 1/16 to 51-7/16. The two companies Monday agreed to merge their consumer and small business Internet operations.
A stock split announcement was continuing to benefit shares of Exodus (EXDS) , sending shares up another 16-1/4 to 117-3/4. The company announced plans to split its stock for the third time this year late Friday.
Xoom.com Inc. (XMCM) added another 6-1/16 to 72-1/16. Shares have been on a run-up since Friday in advance of a Nov. 24 shareholder vote on the three-way merger between Xoom, NBC and CNET Inc.’s (CNET) Snap!.
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