Stock Watch: AltaVista Relaunch Boosts CMGI Properties

Shares of Internet holding company CMGI (Nasdaq: CMGI) and a couple of its notable properties saw a respectable rise on Monday after AltaVista relaunched its portal presence. CMGI, which acquired a majority interest in AltaVista from Compaq earlier this year, plans to take the Web property public sometime next year. Shares of CMGI climbed 4-1/8 to 107-1/4 on Monday.

As AltaVista grows, so will other CMGI properties like newly public applications service provider NaviSite (Nasdaq: NAVI) and direct marketing company Engage Technologies. This is because both NaviSite and Engage have AltaVista as a major customer. Shares of NaviSite closed up 3-3/8 to 38 on Monday, one trading session after going public at $14. Shares of Engage gained 6-5/16 to close at38-9/16 on Monday.

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