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Whether one views Merrill Lynch's Henry Blodget as a top-notch analyst or simply a cheerleader for arguably overvalued companies, one has to admit that he is powerful. Obviously, Blodget did not single-handedly account for Wednesday's sharp gains in the Internet sector, but he played a big part in the furious rally ...
Shares of Exodus Communications (Nasdaq: EXDS), which provides hosting services for online businesses, gained 10-15/16 to 132-1/2 Wednesday after the company announced an alliance with e-commerce applications provider OpenSales. Under the terms of the deal, OpenSales will refer its customers to Exodus for hosting and related managed services ...
Like Exodus, applications service provider NaviSite (Nasdaq: NAVI) has seen its stock rocket recently as investors have piled into Internet hosting companies. Shares of NaviSite climbed more than 6.3 percent on Wednesday, gaining 8-5/8 to 144-7/8 after the company had a grand opening ceremony for its East Coast data center in Andover, Massachusetts...
Shares of Chemdex (Nasdaq: CMDX), which operates an online marketplace for the life sciences industry, gained 35-14 to 155-1/4 Tuesday after the company announced that it is expanding into other business-to-business (B2B) vertical markets. Chemdex has formed Ventro, a new company that will operate multiple business-to-business marketplaces. Ventro's businesses will include Chemdex, Promedix, Industria Solutions, the Ventro-Tenet Healthcare Supply Ventures and SpecialtyMD.com...
Shares of e-business infrastructure company Portal Software (Nasdaq: PRSF) gained more than 8.8 percent in early trading today, rising 6-1/2 to 80-1/16 one day after the company reported record fourth quarter revenue of $39 million. The $39 million represents a 252 percent increase over the $11.1 million reported in the same quarter a year earlier ...
Shares of Watchguard Technologies (Nasdaq: WGRD), an Internet security solutions provider that serves small and medium-sized businesses, soared 15.7 percent on Tuesday, gaining 9-1/2 to 70. The rise came after Credit Suisse First Boston initiated coverage on Watchguard with a strong buy rating and a $90 price target ...
The Internet initial public offering market is expected to stay hot this week, with a handful of offerings expected to do well. One of the week's top performers is expected to be Internet marketing firm Avenue A, whose customers include Microsoft and Gateway Computer. Avenue A is in a crowded field, with big players like DoubleClick and Engage, but investors seem to think that there is a lot of room for competition in this space...
The Nasdaq plummeted more than three percent on Friday, but the broad sell off could not slow down the shares of E.piphany (Nasdaq: EPNY), which develops customer-relationship management (CRM) software. Shares of E.piphany rocketed 13.5 percent on Friday, gaining 20-1/4 to 170-1/4, after the company announced that it had signed up Expedia, E-Stamp and online marketing company Promotions.com...
Shares of Inforte (Nasdaq: INFT), an Internet services firm that competes with companies such as Razorfish and the recently public Organic, got off to a strong start on Friday. The company went public at $32 a share, the top of its revised range of $30 to $32 and well above its previous range of $23 to $25. Inforte's stock closed up nearly 128 percent on Friday, gaining 40-15/16 to 72-15/16...
Shares of online technology network CNET (Nasdaq: CNET), which is expanding its e-commerce presence with the acquisition of comparison-shopping service mySimon, gained 3-1/12 to 66-5/16 in early trading today. The rise came after CS First Boston raised its rating on CNET to strong buy and gave the stock a $100 price target ...
The initial public offering of Apropos Technology (Nasdaq: APRS), which provides customer interaction management for online businesses, got off to a strong start on Thursday. The stock climbed 24 to 47, a gain of about 109 percent ...
Eloquent (Nasdaq: ELOQ), which provides business-to-business Web-based, rich-media communications solutions, also had a successful initial public offering on Thursday. Eloquent's stock doubled on Thursday, gaining 16 to 32 ...
Shares of e-commerce solutions company Commerce One (Nasdaq: CMRC) gained nearly five percent in early trading today, rising 8-13/16 to 193-1/16 after the company announced that it is teaming up with Citigroup to launch an Internet marketplace. The companies will create a business-to-business (B2B) portal that will provide e-commerce services to Citigroup's corporate customers...
Shares of Akamai Technologies (Nasdaq: AKAM), which provides content-delivery services for online businesses, soared about nine percent on Wednesday, gaining 19-1/2 to 242 after the company announced an alliance with America Online (Nasdaq: AOL). Akamai's servers will be deployed within the AOL network of properties to help deliver Web content to AOL members. Akamai will also make guaranteed payments to AOL...
Shares of online broker TD Waterhouse (Nasdaq: TWE) gained more than 12 percent on Wednesday, rising 1-15/16 to 17-1/2 after the company announced record profits that far surpassed analysts' expectations. TD Waterhouse reported a fiscal first quarter profit of $57 million, or 15 cents per share -- representing a 172 percent increase over the fourth quarter of last year and a 184 percent increase over the first quarter of last year. TD Waterhouse also reported revenue of $382 million, 77 percent more than the revenue reported in the first quarter of last year...
To no one's surprise, another business-to-business (B2B) initial public offering got off to a strong start on Tuesday ...
Shares of U.S. Interactive (Nasdaq: USIT), an Internet professional services firm that offers consulting, marketing and technology services for online businesses, gained 4-1/4 to 49-3/16 Tuesday after the stock was upgraded to strong buy from buy by Deutsche Banc Alex. Brown ...
The initial public offering of business-to-business (B2B) e-commerce software company webMethods (Nasdaq: WEBM) got off to a scorching start on Friday, recording one of the top first-day performances in history by closing up a stunning 177-5/8 to 212-5/8. The 507.5 percentage gain was the best first-day performance in 2000, and the fourth-best first-day performance of all-time. What makes this performance even more impressive is that webMethods priced its 4.1-million-share IPO at $35 a share, more than triple the original range of $11 to $13...
The initial public offering of business-to-business (B2B) e-commerce software company webMethods (Nasdaq: WEBM) got off to a scorching start on Friday, recording one of the top first-day performances in history by closing up a stunning 177-5/8 to 212-5/8. The 507.5 percentage gain was the best first-day performance in 2000, and the fourth-best first-day performance of all-time. What makes this performance even more impressive is that webMethods priced its 4.1-million-share IPO at $35 a share, more than triple the original range of $11 to $13...
As expected, the initial public offering of online pet supplies retailer Pets.com (Nasdaq: IPET) got a lukewarm response on Friday. Pets.com stock closed its first day of trading unchanged at $11 a share. While Pets.com does have some advantages like having Amazon.com as an investor, the online pet products market is extremely crowded. Pets.com's competitors include PetsMart, Petopia, Petstore.com and PetPlanet.com. Consolidation in this space seems pretty much inevitable...
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