Stocks Take Midday Tumble
At 11:45 a.m. Eastern, internet.com's Internet Stock Index was off 8.33, or .86 percent, to 957.63, the Nasdaq Composite had fallen 42.53 to 4,507.80 and the Dow Jones industrial average had dove 206.94 to 10,018.79.
A number of Internet leaders were taking it on the chin, including Amazon.com Inc. (AMZN), off 3-3/16 to 67-1/4, CMGI Inc. (CMGI) falling 4-5/16 to 115-7/8, Cisco Systems Inc. (CSCO) losing 3-13/16 to 134-13/16 and Yahoo! Inc. (YHOO) had lost 3-1/16 to 163-1/8.
Several stocks were defying the downward trend, including BroadVision Inc. (BVSN), up 11 to 218-3/4, Broadcom Corp. (BRCM), up 2-3/4 to 188-3/4 and Inktomi Corp. (INKT) gaining 2-5/16 to 138-15/16.
America Online Inc. (AOL) had gained 1-3/4 to 60-1/16 after CS First Boston upped its rating to a "strong buy" and set an $83 target.
Ariba Inc. (ARBA) was up 8 to 247. The electronic commerce software maker won a large order Thursday from Kraft Foods.
Priceline.com Inc. (PCLN) had gained 3-3/8 to 55-1/4. The online supplier of airline tickets, hotel rooms, mortgages and groceries Thursday hired Heidi Miller away from Citigroup as its new chief financial officer.
GetThere.com (GTHR) was up 2-7/16 to 26-7/8. The supplier of Internet-based systems to travel providers reported a narrower-than-expected loss of 14 cents, 11 cents lower than analysts had forecast.
Egghead.com (EGGS) had lost 1-7/8 to 10-7/8. The online software retailer reported a fourth-quarter operating loss of $1.05, 5 cents better than expected.
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