Investors hoping for Internet stocks to reverse their slides of last week Monday were sorely disappointed as the sector once again racked up heavy losses. Tuesday investors will turn their attention to the latest consumer price index numbers which will be issued shortly after the market opens.
At noon Eastern, internet.com’s Internet Stock Index was off 14.34, or 2.73 percent, to 511.80, the Nasdaq Composite had fallen 55.70 to 2,676.13 and the Dow Jones industrial average had slumped 15.20 to 10,004.51 after briefly flirting with positive territory.
Other losers included Amazon.com Corp. (AMZN) off 3-13/16 to 71-1/4, Broadvision Inc. (BVSN) down 7-1/16 to 154-15/16, Broadcom Corp. (BRCM) falling 7-11/16 to 110-15/16, eToys Inc. (ETYS) was losing 4-7/8 to 65-11/16, Network Solutions Inc. (NSOL) falling 6-1/4 to 85-7/8, Priceline.com Inc. (PCLN) was off 5-1/16 to 62-1/2 and 24/7 Media Inc. (TFSM) down 5-9/16 to 35-1/16.
One of the only gainers was Fatbrain.com Inc. (FATB) which was up 5/8 to 20-7/8. Paul Allen’s Vulcan Ventures Monday invested $20 million in the company to help boost Fabtrain’s Internet publishing venture.
In the e-finance sector, E*Trade Group Inc. (EGRP) had fallen 1-3/8 to 23-11/16. The company Monday formed a joint venture with two German firms to target that European market. Ameritrade Holding Corp. (AMTD) was off 9/16 to 16-3/4. The company announced plans to begin offering its investors access to initial public offerings.
Introducing Internet StockTracker, the new weekly e-mail newsletter from
internet.com Corp. Every Friday internet.com will deliver to your e-mail
in-box the latest performance data on individual Internet companies and
their competitors. Internet StockTracker will deliver to you all the
statistics you need to assess the week’s activity.
Subscribe today and receive the Charter Rate of $157 — a savings of
$70 off the regular subscription price!