Internet issues were climbing higher Wednesday afternoon amid several analyst
upgrades and a shocking announcement from a premier Internet e-tailer.
By 12:30, internet.com’s Internet Stock Index was rising 15.45, or 1.82
percent, to 862.36, the Nasdaq had jumped 36.84 to 4008.95 and The Dow Jones
industrial average was up 47.71 to 11524.42.
, + 6-5/16, or 55 percent, to 17-7/8. Egghead announced that it ranked among
the top 10 e-commerce sites for the week ending December 19, 1999 with 1.1
million estimated unique visitors.
Value America Inc. (VUSA)
was down a fractional 5/8 to 6-1/4. The Internet retailer announced it will
miss its earning’s target this quarter due to a restructuring effort. The
company has plans to lay off 47 percent of its work force as it consolidates
facilities and takes other cost-saving initiatives.
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