After a roller coaster ride earlier in the sesssion, Internet stocks jumped on the rally bandwagon. Despite the lateday strength, they were still outpaced by technology issues and blue chips.
internet.com’s Internet Stock Index was up 11.72, or 2.85 percent, to
423.18, the Nasdaq surged 73.25 to 2,563.36 and the Dow Jones industrial
average added 133.29 to 10,788.44.
Helping to spark the high-tech rally was
Cisco Systems Inc. (CSCO)
. Shares of the networking company shot up 4-3/16 to 62-15/16. Cisco
reported fourth quarter earnings of 21 cents a share, which beat First Call estimates by a penny.
Thomas Weisel Partners reiterated its “buy” rating on Yahoo as well as on
Real Networks Inc. (RNWK)
Verisign Inc. (VRSN)
Real was off 1 to 69-3/4 after hitting 72-3/4 and Verisign was up 2-5/8 to 73 1/8 after reaching 75-1/4.
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