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Stocks Rise on Better 2Q Results

Steve Harmon
By Steve Harmon

The overall market rebounded today with Internet stocks moving up as ISDEX gains 3.14% to 525.45. Among the highlights:

  • RealNetworks (NASDAQ:RNWK) climbs 13% to $87 15/16 on a “buy” tout from BB Robertson Stephens as the leader in streaming media posts strong second-quarter revenue up 28% to $28 million and a break-even on EPS vs. First Call’s consensus prediction of $0.02 loss per share.
  • StarMedia (NASDAQ:STRM) agrees to acquire Spain’s LatinRed, a free email, chat and community site that bolsters StarMedia’s Spanish/Portugese reach into Europe. Other recent buys for StarMedia are in Brazil, Chile. Apparently Wall Street must be sleeping since STRM shares are down; I see the buys as a plus, a consolidation of its power as #1.
  • Network Solutions (NASDAQ:NSOL) jumps 10% to $77 1/4 per share after it says it will charge up front for domains rather than let the grace period occur. In other words, domain speculators who simply register names and don’t pay for months in anticipation of selling a domain are unable to do so in the future.
    • Steve Harmon
    Steve Harmon
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