Internet stocks fell from their mid-day levels as
economic figures indicated a faster-than-expected increase in wages during
January. The increase perpetuated speculation the Federal Reserve will again
hike interest rates to slow down the economy.
internet.com’s Internet Stock Index (ISDEX) slipped 6.96, or 0.77 percent,
to 891.89, the Nasdaq Composite gained 33.16 to 4244.14 and the Dow Jones
industrial average fell 49.64 to 10963.80.
eMerge Interactive (EMRG)
didn’t dissapoint in its long awaited debut. The online hub for the cattle
industry priced 8 million shares at $15 each, raising $120 million. The lead
underwriter for the deal is Adams Harkness & Hill. Shares surged 32-1/4
higher to 47-1/4.
Viant Corp. (VIAN)
was up 5-5/8 to 105-5/8. The Internet professional services provider
Thursday reported $23.7 million in sales during its latest quarter. Also, CS
First Boston reiterated its “strong buy.”
Enjoy your weekend.
Subscribe to Internet StockTracker,a weekly e-mail newsletter from
internet.com Corp. Every Friday internet.com will deliver to your e-mail
in-box the latest performance data on individual Internet companies and
their competitors. Internet StockTracker will deliver to you all the
statistics you need to assess the week’s activity.Sign up at: e-newsletters.