Internet stocks continued rising on Monday, following news of several upgrades and stock splits.
Published:
14 December 1999 y., Tuesday
src="http://ads.admaximize.com/dynamic/creative/0046/0001/EMT/A01/1999.12.14.17.57.59.0" ALIGN=LEFT>
The Nasdaq Composite kept its hot streak alive, setting its 52nd record of 1999.
internet.com_s Internet Stock Index closed up 9.66 to 845.38, the Nasdaq Composite added 37.93 to 3658.17 and the Dow Jones industrial average fell 32.11 to 11192.59. SciQuest.com (SQST) climbed 6-3/8 to 52. Banc of America Securities initiated coverage of the B2B provider of scientific and laboratory products with a "buy" rating and a $75 price target. CMGI (CMGI) bolted 17-9/16 higher to 211-5/8. CMGI_s majority owned, 1stUp.com announced it has eclipsed the 1 million subscriber mark. 1stUp.com allows consumer oriented businesses to provide its customers with free, advertising supported, Internet access. InterWorld Corp. (INTW) rose 9-1/4 to 72-7/8. Barrington Research Associates initiated coverage of the business-to-business software provider with a long-term "buy" and a 12 month price target of $91. BroadVision Inc. (BVSN) rocketed 22-5/8 to 130. The maker of customer service software for Internet businesses will join the Nasdaq 100 index on Dec. 20. Foundry Networks (FDRY) flew 26-1/4 higher to 304. The Internet equipment maker Monday announced a 2-for-1 stock split. Shares have risen 11-fold since going public in September. Whittman-Hart Inc. (WHIT) plunged 24-3/4 to 54-1/2 after announcing it will buy USWeb/CKS Corp. for $5.88 billion in stock. Whitman will pay about $68.55 a share for USWeb/CKS. That represents a 35 percent premium from Friday_s close. Investors should be preparing for a flood of IPOs set to hit the market this week. Two highly anticipated issues are C-bridge Internet Solutions and Infonet Services. Merrill Lynch is the lead underwriter for data-communications company, Infonet Services, which did $173.2 million in revenues for the six months ended Sept. 30.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Mr. Olli Rehn, European Union Commissioner, and Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following joint statement on Greece.
more »
The offering of shares of the new issue will commence on 03-05-2010.
more »
The World Bank today approved a $12 million IDA credit to Bhutan, designed to improve infrastructure services in parts of the capital city of Thimphu where no formal services are currently available.
more »
Fisheries ministers and stakeholders alike will be discussing the future shape of the EU's Common Fisheries Policy at two major events in Spain over the next days. On 2 and 3 May, in La Coruña, the Commission and the Spanish Presidency are organising a large stakeholder conference on the reform of the Common Fisheries Policy.
more »
Asia is leading the global recovery and the region’s contribution to global growth will continue to exceed that of other regions in the next two years, the International Monetary Fund (IMF) said today in its latest Regional Economic Outlook (REO) for Asia and the Pacific.
more »
The EBRD is supporting the modernization of the electricity distribution network and the development of renewable energy sources in Poland with a PLN 800 million loan (equivalent to approximately €205 million) to the Energa energy group in order to help the company strengthen its power grid.
more »
At the beginning of the summer this year, Vilnius will become the capital of the Baltic Sea region. On 1-2 June 2010, the city will host the Baltic Sea States Summit and the Baltic Development Forum (BDF) Summit.
more »
Visitors of the World Expo 2010, which will open in the Chinese city of Shanghai on May 1st under the slogan “Better City, Better Life” and will last for 184 days until the end of October, are kindly invited to get into a hot air balloon at the Lithuanian Pavilion.
more »
According to preliminary data, unaudited net loss sustained over the first quarter of the year 2010 by SEB Bank is LTL 59,4 million (EUR 17,2 million) and that by SEB Bank Group is LTL 80,3 million (EUR 23,3 million).
more »
European Globalisation Adjustment fund (EGF) aid must be delivered faster and more simply to unemployed workers hit by the financial crisis or globalisation, concluded the Budgets and Employment committees after evaluating the fund on Wednesday.
more »