Strength in Internet stocks combined with positive sentiment throughout the technology sector spurred the Nasdaq Composite to its 12th record in 15 sessions Thursday.
internet.com’s Internet Stock Index jumped 17.22, or 2.60 percent, to
680.27, the Nasdaq Composite climbed 76.54 to 3,345.93 and the Dow Jones
industrial average closed up 152.61 to 11,035.70.
Commerce One (CMRC)
was up 14 to 324. The e-commerce solutions provider late Wednesday announced
a 3-for-1 stock split that will take effect Dec. 23.
A split announcement also helped Ariba
Inc. (ARBA)
gained 1-1/4 to 206-1/4. The e-commerce services provider will split its stock
2-for-1.
internet.com Corp. (INTM)
soared 7 to 41. The publisher of this Web site Thursday announced a deal
with Yahoo! Inc. (YHOO)
to provide news for its Asian, Singapore and Hong Kong portals.
For its part, Yahoo! closed up 7-11/16 to 213-7/8 after First Union initiated
coverage with a “strong buy” and set a $240 price target.
As for the Net leaders, BroadVision
(BVSN)
climbed 4-1/4 to 92-1/4, AOL (AOL)
ended up 4 to 159-5/8, Priceline.com (PCLN)
lost 5 to 71-7/8 and Network
Solutions (NSOL)
rose 12-13/16 to 158-3/8.
RealNetworks (RNWK)
climbed 8-11/16 to 152-7/8. A study from KeyLabs shows that 7 out of 10
consumers prefer the sound quality of RealAudio versus Microsoft Media
Audio. Also, a study from PC Data shows that 80 percent of Web surfers use
RealPlayer.
Amazon.com (AMZN)
rose 1-7/16 to 77-15/16. The company announced it will launch its new
auction site, in conjunction with Sotheby’s on Friday.
Salon.com Inc. (SALN)
jumped 1-1/4 to 7-7/8. The Web publisher Thursday unveiled plans for a
customized audio entertainment service.
ViaLink (IQIQ)
shot-up 9-7/16 to 36-3/4. The company, which develops secure e-business
subscription services, signed a deal with Kraft Foods.
AskJeeves Inc. (ASKJ)
added 1-3/4 to 172-3/4. The search engine was rated a “strong buy” by First
Union Securities which initiated coverage Thursday. Analyst Carolyn Trabuco
set a $230, 12-month price target.
Exodus Communications (EXDS)
gained 3-1/2 to 107 after Friedman Billings Ramsey initiated coverage with a
“buy” rating, setting a $140 target.
Go.com (GO) was
off 2-1/4 to 35-1/4. Paine Webber initiated coverage Thursday with a “buy”
rating and set a $48 price target.
Finally, Multex.com (MLTX)
gained 5-5/8 to 28-3/8. U.S. Bancorp Piper Jaffray came out with several
positive comments on the provider of investment research.
On the IPO front, Agilent Technologies
(A)
climbed 12-3/8 to 42-3/8. The company is a spin-off of Hewlett Packard (HWP)
and specializes in diagnostic measurement software for such industries as
communications, healthcare and semiconductors. Agilent raised about $2
billion and had Morgan Stanley as the underwriter.
MetaSolv Software (MSLV)
soared 36 to 55. The company, which provides outsourcing software for
telecom companies, raised $85 million and the lead underwriter was Morgan
Stanley.
Retek (RETK)
rose 17-9/16 to 32-9/16. The company develops software for the retail
inventory management market. The company raised about $70 million and the
lead underwriter was CS First Boston.
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