Internet investors, who were rooting for the Nasdaq to cross the 3,000 barrier, had little to cheer about at the end of Monday’s trading as all the major indices treaded water.
internet.com’s Internet Stock Index gained 4.15, or .74 percent, to
566.87, the Nasdaq Composite closed up 1.21 to 2,967.64 and the Dow Jones
industrial average sunk 81.35 to 10,648.51. Volume was generally light
as investors were pacing themselves for economic data due out later this
week.
eBay Inc. (EBAY)
and America Online Inc. (AOL)
launched four co-branded sites today. The sites will get traffic from
AOL.com, ICQ, Digital City and CompuServe. AOL ended up 4-11/16 to 134 and
eBay closed up 1-7/8 to 137.
One of the biggest gainers was online investment bank Wit Capital Group Inc. (WITC)
soared 4-13/16 to 22-3/8 after announcing plans to buy
SoundView Technology Group for $320 million in stock and options.
eToys (ETYS)
continued to slide today, falling 4-11/16 to 55-1/16. Last week, the
company reported that it will increase its marketing costs substantially.
Also, on Tuesday, about 9.5 million shares will be available for sale by
officers and directors of the company, which could put pressure on the
stock.
Akamai Technologies (AKAM)
jumped another 29-1/8 to 174-5/16 on its second day of trading. The
company, whose software speeds the delivery of Web content, rocketed 458
percent on Friday making it the No. 4 initial public offering in history.
Spyglass (SPYG)
surged 8-7/16 to 24-1/2. The company announced that it licensed its
Prism platform to Fujitsu. The technology converts Net content to non-PC
devices.
FatBrain (FATB)
was up 1-15/16 to 19-15/16. The company got an investment of $10
million from Highland Capital Partners and Vulcan Ventures.
Real Networks Inc. (RNWK)
lost 1-7/8 to 107-13/16 after reports emerged the company’s
RealJukebox software monitors the lisening habits of users and reports that
information to the company.
Excite@Home Corp. (ATHM)
gained 2-3/4 to 40-1/8 and AT&T
Corp. (T) was up 9/16 to 47-5/16. The two companies are set to argue
their case in front of the Ninth Circuit Court of Appeals Monday. The
telecommuications giant is going to argue it should not be forced to open
its cable systems to competitors. AT&T is a large shareholder in
Excite@Home.
As for the Net leaders, Broadvision (BVSN)
closed up 7-5/16 to 80-15/16, Juniper (JNPR)
fell 7-1/16 to 268-9/16, Ariba Inc.
(ARBA)
gained 5-5/8 to 160-5/8, DoubleClick (DCLK)
ended up 3-13/16 to 143-13/16, Broadcom Corp. (BRCM)
vaulted 10-3/16 to 138, Network Solutions Inc. (NSOL)
gained 4-1/2 to 123, and Verisign
Inc. (VRSN)
ended up 8-1/16 to 131-9/16.
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