Stocks rose Monday, but the Internet’s biggest names were left behind.
Google and Yahoo
both finished lower on fears that competition between the two may heat up after Yahoo launched a small business search advertising program, a market dominated by Google.
Amazon.com slipped ahead of an investor presentation on Wednesday.
And eBay slumped 4.6% on reports that CEO Meg Whitman was in the running for the top spot at Disney
but withdrew from consideration.
“Although we do not believe Whitman is actively pursuing departure from eBay at this point, we think new questions and uncertainty about her long-term future with the company will add to the negative sentiment we see swirling around the auction firm,” Standard & Poors said.
The broader market finished higher after spending much of the day restrained by rising oil prices.
The Nasdaq rose 9 to 2051, the S&P 500 climbed 6 to 1206, and the Dow gained 30 to 10,804. Volume declined to 1.44 billion shares on the NYSE, and 1.73 billion on the Nasdaq. Advancers led 17-15 on the NYSE, and 16-14 on the Nasdaq. Upside volume was 69% on the NYSE, and 62% on the Nasdaq. New highs-new lows were 82-32 on the NYSE, and 54-83 on the Nasdaq.
Ascential soared on news that the company will be acquired by IBM
.
Research in Motion surged on reports that the company could settle a patent dispute with NTP. RIMM also benefited from a partnership with Yahoo.
Synaptics jumped on an upgrade.
Avocent plunged on a warning.