Stock Watch: Big Internet Names Rebound

Investors breathed a collective sigh of relief on Friday as the Nasdaq gained nearly 4.2 percent, rising more than 155 points for its best one-day point gain ever. The rise capped off a wild week in which the Nasdaq fell nearly 10 percent combined on Tuesday, Wednesday and Thursday. It looks like investors might have just suffered through a three-day correction, and things are looking up now.

Friday’s big winners included many of the notable Internet stocks that had been beaten down earlier in the week. Shares of (Nasdaq: AMZN), for example, climbed 4 to 69-9/16 after receiving a buy rating from U.S. Bancorp Piper Jaffray. Meanwhile, Yahoo! (Nasdaq: YHOO) soared 39-1/16 to 407-1/4, Doubleclick (Nasdaq: DCLK) thundered ahead 37-7/16 to 236-7/16 and CMGI (Nasdaq: CMGI) gained 24-3/4 to 275.

Among things to keep an eye on this week: Yahoo! is reporting its earnings on Tuesday, which could have a ripple effect throughout the Internet sector. Yahoo! is expected to have a strong quarter, but stocks like Yahoo! have been known to run up before their earnings and pull back a bit after they report. Shares of Yahoo! climbed 32-1/4 to 439-1/2 in early trading today.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

How often do you update your passwords?
Loading ... Loading ...

Technewsworld Channels