Shares of Real Networks Inc. jumped more than 25 percent Tuesday as Internet issues caught fire in the afternoon in a session where technology stocks outpaced big-cap industrials.
Internet.com’s Internet Stock Index climbed 25.87, or 4.37 percent, to 617.76 while the Nasdaq Composite continued its record-setting run, adding 3.10 to close at 2,563.16. The Dow Jones industrials broke away to end off 43.84 to close at 9,963.49.
One of the day’s most stellar performers was streaming media company Real Networks (RNWK) which soared 40-15/16 to end at 195-7/16. Internet analyst Jamie Kiggen at Donaldson Lufkin & Jenrette rated the stock a “buy.” He went on to say the company stands to benefit from “tremendous anticipated growth in broadband access.”
Internet advertising firm DoubleClick Inc. (DCLK) skyrocketed 25-7/16 to 121. The stock was rated a “strong buy” by Tara Long, who follows the Internet ad market for C.E. Unterberg Towbin. She set a price target of 150 over the next 12 months.
Shares of online sports news site SportsLine USA (SPLN) gained 4-3/8 to 51-3/8. The company continued to benefit from Monday’s announcement of a partnership with the Pro Golf Association.
Online toy retailer Netoy.com Corp. (NTOY) jumped 2-3/16 to 9-7/16 after the company signed a three-month advertising deal with DoubleClick.
On the minus side, shares of ZdNet (ZDZ) slumped 5-3/8 to 39-9/16. The company continues to slide from its high of 55-1/2 reached shortly after its initial public offering.
Shares of online community theglobe.com (TGLO) slumped 1-3/8 to 54-3/4 after announcing it will buy the Attitude Network. Attitude publishes several entertainment Web sites.
