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
During the meeting, which took place on 3 September 2009 the Bank of Lithuania approved the transaction, according to which AB Bank SNORAS will acquire 100 percent of the shares of AB “Finasta įmonių finansai” owning AB bank “Finasta”.
more »
The European Commission tabled yesterday its proposal on fishing possibilities for fish stocks in the Baltic Sea for 2010.
more »
Members of the Civil Liberties Committee voiced concern on Thursday over the interim agreement under negotiation between the EU and the United States on data transfers via the SWIFT network.
more »
Consumers in Cyprus, the Czech Republic, Hungary, Poland, Romania and Slovenia now have access to consumer magazines and websites, which provide independent, comparative testing of consumer products, following a three-year EU project co-financed by the European Commission.
more »
Funds management company “SNORAS Asset Management” will establish the first alternative investment fund in Lithuania - “SAM Renewable Energy Fund”.
more »
The re-launched Lisbon Partnership for growth and jobs has put innovation and entrepreneurship at the centre and called for decisive and more coherent action by the Community and the Member States in view of mastering the shift towards knowledge based low carbon economy.
more »
Helping dairy farmers now, as well as restructuring the dairy sector in the long run, is the way out of the current milk market crisis, Agriculture Committee MEPs told Agriculture Commissioner Mariann Fischer Boel in a debate on Tuesday.
more »
The EU is phasing out traditional light bulbs over the next three years in favour of a new generation of energy-efficient lighting.
more »
Lithuania increases the VAT rate from 19 % to 21 % from September 1, 2009.
more »
Two recent joint missions from three development finance institutions helped Thailand identify low carbon projects that could be eligible for Clean Technology Fund financing.
more »