Technology issues continued their winning ways Thursday, breaking apart from blue chips and Internet issues to advance further into record territory.
Just before noon Eastern, internet.com’s Internet Stock Index was off 0.09, or 0.01 percent, to 614.14, the Nasdaq Composite had jumped 32.93 to 3,188.89 and the Dow Jones industrial average had fallen 7.34 to 10,590.40.
InterVU Inc. (ITVU) was up 8-3/16 to 71-3/4 after the Internet audio and video company snagged a $20 million investment from the CNN News Group. The Time Warner (TWX) unit will give InterVU $20 million of its common stock in exchange for three years of online advertising and television promotion.
Verisign Inc. (VRSN) had jumped 7-1/4 to 159-1/2 on news the company’s board had approved a 2-for-1 stock split that will take effect Dec. 6.
Microsoft Corp. (MSFT) had climbed 2-1/16 to 89-3/16. The company announced Thursday it was making a $100 million investment in Radioshack.com, the consumer electronics company’s online operation. Radio Shack is a unit of the Tandy Corp. (TAN) whose shares had advanced 4-3/8 to 69-9/16 on the deal.
Several leaders were in the news as a number of analysts made ratings adjustments. Broadcom Corp. (BRCM) had jumped 7-1/8 to 175-3/4 after Merrill Lynch raised its price target to $205 from $180.
Beyond.com Corp. (BYND) had fallen 1-1/4 to 9. CS First Boston cuts its rating to a “hold” from a “buy.”
Amazon.com Inc. (AMZN) was up 7/16 to 72-7/16. Goldman Sachs initiated coverage of the e-tail giant with a “market outperform.” The firm also predicted Amazon will achieve profitability by 2002.
Red Hat Inc. (RHAT) had gained 1-13/16 to 97-1/16. The company Thursday released the latest version of its Linux operating system.
Women.com (WOMN) had jumped 1-1/4 to 20 after reporting third-quarter revenues jumped 140 percent to $7.2 million. The company reported a pro-forma loss of 51 cents a share.
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