Nasdaq Hits Milestone

Strength in technology stocks, which was helping carry the Nasdaq across the 4,300 level for the first time ever, was also benefiting Internet shares Tuesday.

At noon Eastern,’s Internet Stock Index was up 17.04, or 1.89 percent, to 919.79, the Nasdaq Composite had climbed 58.59 to 4,830.36 and the Dow Jones industrial average had gained 81.59 to 10,987.38.

Climbers included Inc. (BOUT), up 3-1/4 to 71-1/4. The online guide was rated “strong buy” by Deutsche Banc Alex. Brown’s Andrea Williams who initiated coverage Tuesday.

Reuters Group PLC (RTRSY) American depositary receipts had soared 21-1/8 to 120-1/2 and Inc. (MLTX) had gained 1-1/8 to 31. Reuters plans to form a new Web site targeting European private investors in partnership with Multex.

Akamai Technologies Inc. (AKAM) was up 6-11/16 to 235-5/16. The company, whose software optimizes the delivery of Web content, was initiated by Lehman Brothers’ William Garrahan at a “buy.”

Starmedia Network Inc. (STRM) had gained 5-5/8 to 46-3/4. The company reported a quarterly loss of $27.8 million, or 44 cents a share. That’s 6 cents better than expectations. (HOTJ) was off 1-7/16 to 29-1/2. The online job site reported a fourth-quarter loss of 15 cents a share, excluding one-time items. That’s a penny better than expectations. (BNBN) was off 1/2 to 11-3/16. The online bookseller reported a fourth-quarter loss of 27 cents a diluted share. That’s in line with estimates.

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