Markets Start Week on High Note

The broader markets surged Monday as all three major indices set new records ahead of Tuesday’s key Federal Reserve meeting.

internet.com’s Internet Stock Index had jumped 18.40, or 3.88 percent, to
492.27, the Nasdaq Composite was up 71.58 to 2,719.91 and the Dow Jones
industrial average climbed 194.74 to a record 11,295.33.

[email protected] (ATHM)
rose 2-1/4 to 39-15/16. An analyst with BancBoston Robertson Stephens
made positive comments on the stock and issued a $100 price target.

China.com (CHIN
A)
soared 8-9/16 to 44-1/16. Analyst Ravi Sarathy of Lehman Brothers reiterated a “buy” recommendation on the stock.

All the leaders ended higher, with America
Online Inc.
(AOL)
up 3-1/4 to 98-7/16. Merrill Lynch & Co.’s Henry Blodgett reiterated his
“buy” rating.

Yahoo! Inc. (YHOO)
gained 7-1/8 to 152-1/8. Yahoo! Monday launched Yahoo! Digital, a new
site which offers Internet broadcasts and secure music downloads in MP3 and
other audio formats.

Net2Phone (NTOP)
surged 11-5/8 to 47-1/8. Today, the “quiet period” expires on the
stock, which allows underwriters’ research departments to issue reports.

Drugstore.com (DSCM)
was up 2-13/16 to 51-5/16. Donaldson Lufkin Jenrette Monday issued a
“buy” rating on the company and set a $60 price target.

Stamps.com Inc. (STMP) had vaulted
4-3/8 to 35. The company Monday sealed a deal to sell postage through the
update utility in Microsoft’s Office suite.

E*Trade Group Inc. (EGRP)
was up 5/8 to 27-3/16. The company Monday took a minority stake in
online mortgage provider LoanCity.com.

Mail.com Inc. (MAIL)
was down ? to 15-12. The company Monday acquired The Allegro Group, a
provider of corporate e-mail and hosting services.

Transaction Network Services Inc. (TNI)
had soared 9 to 43-1/4 and PSINet Inc.
(PS
IX)
had gained 5/16 to 45-7/8. PSINet Monday acquired TNS, a processor
of Internet and credit card transactions, for $720 million in cash and
stock.

Alloy Online (ALOY)
rose 3-15/16 to 13-3/4. The company is an etailer for the “Generation
Y” demographic. Volpe Brown Whelan put a “strong buy” rating on the stock.

Note: Hear Internet Stock Report Senior Analyst Chris Nerney tonight
on TradersRadio.com. Chris and
show host Michael Mermer will discuss the latest trends in Internet stocks
and what to expect in the coming months and beyond. Show starts at 9 p.m. Eastern. Go to
www.tradersradio.com
to hear the half-hour program.


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

News Around the Web