Technology and Internet shares did an about-face Monday afternoon after languishing in the red most of the session on interest rate fears, one day ahead of the Federal Reserve’s two-day meeting.
internet.com’s Internet Stock Index erased much of a 50-point decline earlier in the day to finish off only 5.19, or .63 percent, to 813.61, the Nasdaq Composite jumped 53.30 to 39,40.30 and the Dow Jones industrial average leaped 201.66 to 10,940.53.
B2B stocks that have been steady high fliers of late ended mixed after being in the red at midday. Ariba Inc. (ARBA) was off 11-1/8 to 162-5/8, Broadcom Corp. (BRCM) was up 5-5/16 to 289-5/16, Broadvision Inc. (BVSN) was down 6-1/8 to 127-5/8 and Checkpoint Software Technology (CHKP) lost 4-27/32 to 110-5/32.
Also in the red were Doubleclick Inc. (DCLK), down 1-13/16 to 98-13/16, Exodus Communications (EXDS) shed 4-7/8 to 114-7/8, Real Networks Inc. (RNWK) lost 1/4 to 157-3/16 and Verisign Inc. (VRSN) lost 3-3/32 to 161-3/8.
percent stake in the company. In exchange, it will promote Audible’s services on its Web site and will receive $30 million over three years from Audible.
Also, Thomas Weisel Partners Monday removed Amazon from its model portfolio.
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