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
Commission sets out first finance proposals for Copenhagen pact on climate change.
more »
The World Bank today approved a US$39.5 million loan for the Rio de Janeiro Sustainable Rural Development Project in southeastern Brazil.
more »
The World Bank Board of Executive Directors approved today an additional US$7.8 million for the Colombia Peace and Development Project.
more »
In 2008, the total number of non-cash payments, using all types of instruments, increased by 5% to 78 billion in the EU.
more »
Current economic indicators seem to show a cautious recovery in some of the biggest European economies, such as Germany and France.
more »
Launch Early Operation Phase (LEOP) has been successfully completed and the Palapa-D communications satellite is now in the nominal geostationary orbit (GEO).
more »
The Supervisory Council of AB DnB NORD Bankas on 8 September 2009 elected Šarūnas Nedzinskas as a member of the bank‘s Management Board.
more »
In the last few months farmers across Europe have taken their tractors to the streets to protest at what is being termed the biggest milk crisis for decades.
more »
Mobile telecoms companies have pledged to support the EU’s campaign to equip new cars with a device that would automatically call for help in the event of an accident.
more »
Nordic and Baltic countries aim to strengthen cooperation of business and industry stakeholders.
more »