As expected, the Fed left interest rates unchanged although the board adopted a bias towards tightening which means another rate hike may be near. While stocks as a whole ended mixed, Internet shares were able to post strong gains.
internet.com’s Internet Stock Index was up 10.77, or 2.04 percent, to
538.48, the Nasdaq Composite rose 3.09 to 2,799.06 and the Dow Jones
industrial average was down 9.82 to 10,391.41.
Concur Technologies (CNQR)
plunged 20-1/16 to 12-13/16. The company, which provides e-commerce
solutions, said it will fall short of next quarter’s Wall Street
expectations on its revenues. The company has experienced delays in orders
As for the Net leaders, Ariba Inc. (ARBA)
was up 1-7/8 to 164-3/4, Juniper
climbed 1-7/8 to 184, Lycos (LCOS)
rose 4-1/4 to 56-1/2, Doubleclick
was higher by 8-13/32 to 122-9/16, Verisign Inc. (VRSN)
was up 9-1/2 to 112-3/8 and Inktomi
had gained 3-13/16 to 118-7/8.
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