Internet investors continued buying up shares late Friday and helped the
tech-heavy ISDEX and Nasdaq recover from a three day plunge. Among the
leading sectors were business-to-business and infrastructure.
internet.com’s Internet Stock Index rose 52.41, or 6.67 percent, to 827.88,
the Nasdaq Composite jumped 155.49 to 3882.62 and the Dow Jones industrial
average gained 269.30 to 11522.56.
Digital River Inc. (DRIV)
rose 4-3/8 to 33-1/4. The e-commerce outsourcing company announced it will
be the exclusive provider of over 100,000 downloadable software titles
throughout Fingerhut Companies’ sites thehut.com and andysgarage.com.
Chemdex Corp. (CMDX)
gained 7 to 98. Deutsche Banc Alex. Brown initiated coverage of CMDX with a
“buy” rating and $128 price target.
CMGI Inc. (CMGI)
climbed 24-3/4 to 275, Doubleclick
Inc. (DCLK)
surged 37-7/16 to 236-7/16, Infospace
Inc. (INSP)
jumped 10-1/16 to 99-3/16 and Inktomi
Corp. (INKT)
matured 8-7/8 to 89-3/8.
Network Solutions Inc. (NSOL)
added 4-13/16 to 202-3/4, Real Networks
Inc. (RNWK)
was up 18-7/8 to 132-1/16, Verisign
Inc. (VRSN)
rose 14-45/64 to 169-53/64 and Yahoo!
Inc. (YHOO)
recovered 39-1/16 to 407-1/4.
Winners in the B2B space included Ariba
Inc. (ARBA)
up 19-1/16 to 169-3/16, Purchase
Pro (PPRO)
+7-1/2 to 123-1/2 and Broadvision
Inc. (BVSN)
was up 19-3/32 to 148-11/32.
Wal-Mart Stores Inc. (WMT)
surged 4-13/16 higher to 68-1/2. The retailer is teaming up with Accel
Partners to form a separate company that will spearhead the company’s online
efforts.
Splitrock Services Inc. (SPLT)
rose 4-13/16 to 26-15/16. The data networking company was purchased by
McLeod USA Friday for $2.1 billion in stock.
Amazon.com Inc. (AMZN)
gained 4 to 69-9/16. US Bancorp Piper Jaffray Friday initiated coverage at a
“buy,” setting an $80 price target.
Enjoy your weekend.
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