Net stocks on another bumpy ride
| By William Spain, CBS.MarketWatch.com |
Last Update: 9:45 AM ET Apr
17, 2001 |
CHICAGO (CBS.MW) – Internet stocks looked to be in for another bumpy
ride on Tuesday as several major indicators dipped in early going.
The Merrill Lynch Internet Holdrs Index (HHH) was off .65, or 1.7
percent, to 36.50 while the Goldman Sachs Internet Index ($GIN) slipped
1.8, or 1.5 percent, to 119.60.
Movers included Homestore.com (HOMS), currently embroiled in a spat
with Microsoft over bragging rights to the most-visited real
estate-related Web site. Homestore was up 22 cents to $28.98.
America Online (AOL) shares rose $1.57 to $44.88, one day ahead of
its expected quarterly results.
ExciteAtHome (ATHM) announced before the bell that it expects to
report widening losses for the first quarter. The company said that it
stands to lose between 14 cents and 15 a share for the period, up from a
loss of 1 cent in the year ago period and above the First Call consensus
for a loss of 13 cents. Investors didn’t wait for the final numbers
before taking 63 cents, nearly 13 percent, out of the company’s hide as
it fell to $4.24.
As of May Day, former Warner Bros. chief Terry Semel will take the
reins at Yahoo (YHOO) as chairman and CEO, replacing Tim Koogle who will
move into a vice-chairman role before finally going out the door in
August. Shares in Yahoo were off 80 cents to $16.82 early.
Although it is still widely seen as one of the likely survivors in
its battered space, DoubleClick (DCLK) slumped Monday after multiple
analyst downgrades. Shares in the company took another hit out of the
box Tuesday, falling 23 cents to $10.20.
William Spain is a reporter for CBS.MarketWatch.com in Chicago.
