Internet stocks barely managed to finish in the plus column Monday thanks largely to a pullback in the B2B sector.
internet.com’s Internet Stock Index was up 0.23, or 0.02 percent, to
1,080.50, the Nasdaq Composite slipped 4.90 lower to 4958.13 and the Dow
Jones industrial average was off 86.87 to 11,025.85.
Spyglass Inc. (SPYG)
rocketed 12-1/2 higher to 82-3/8. The maker of software for set-top boxes
was purchased by OpenTV Corp. (OPTV)
for $2.5 billion in stock. Shares of OPTV plunged 39-61/64 lower to
Investors were pulling their money out of the B2B sector after strong gains
last week. Internet Capital
lost 3-3/4 to 106-3/8, Ariba (ARBA)
dropped 13-3/4 to 245-13/16, and Commerce One (CMRC)
gave up 10-3/8 to 213-5/16.
Much of the Dow’s loss was due to selling in Microsoft Corp. (MSFT), which was down 7-5/8 to 104-1/16. Investors were concerned that a
settlement of the antitrust case filed by the Justice Department and 19 states no longer appears imminent. The judge in the case is expected to release his final ruling later this week.
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