With an aggressive cut in its DSL pricing, Verizonrecast the broadband landscape on Friday.
With the big drop to $34.95 a month, Verizon made big winners of Aware, Conexant, Netopia, Broadcomand Advanced Fibre, all of which could see increased DSL business, and losers of Comcast, Coxand AOL, which may have to cut prices to keep pace with Verizon.
The broader market surged on an in-line jobless report and better than expected factory orders. But more important was a Merrill Lynch call that airlines are now much less likely to go bankrupt, which fueled a 2.3% gain in the Dow Transports.
The Nasdaq soared 30 to 1502, the S&P 500 rose 13 to 930, and the Dow surged 128 to 8582. Volume rose to 1.54 billion shares on the NYSE, and 1.84 billion on the Nasdaq. Advancers led 25-7 on the NYSE, and 22-9 on the Nasdaq. Upside volume was 84% on the NYSE, and 86% on the Nasdaq. New highs-new lows were 180-4 on the NYSE, and 210-16 on the Nasdaq.
pricelinesoared 32% after beating estimates and announcing a reverse stock split, and Cypress Semisurged 12% after raising guidance.
Sun Microsystemsclimbed 12% on buyout rumors. Dellwas rumored to be a possible acquirer.
Genesis Microchip, InfoSpace, and S1fell on disappointing results.
Akamaisurged 7% on a deal with IBM.
Monster Worldwide, the former TMP Worldwide, rose 5% on a partnership with the Department of Defense, adding to strong gains earlier in the week on better than expected results.
Yahooclimbed 2.4% on a deal with Pepsi.
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