eBay Soars on Addition to Nasdaq 100; After-Hours Trading Update

eBay (EBAY Quote) roared up 7 15/16 to 147 in after-hours Island ECN trading on news that it will join the Nasdaq 100 Oct. 6. eBay, whose market capitalization is about $17.7 billion, will replace Centocor (CNTO Quote), which Johnson & Johnson (JNJ Quote) is acquiring. The Nasdaq 100 is an index of the 100 largest nonfinancial stocks on the Nasdaq Stock Market.

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Broadband provider CAIS Internet (CAIS Quote) will announce Thursday that Qwest Communications (QWST Quote) is investing $15 million in the company at a price of $12 a share. CAIS closed Wednesday at 11, down 1/4.

In addition, CAIS, which provides the hardware, software, and connectivity for hotels and apartment communities, will also announce that it will purchase 44 million IRUs, or bandwidth units, from Qwest, said Gary Rabin, company executive vice president of finance and strategic planning, at the Volpe Brown Whelan Internet & Communications conference Wednesday. That basically means that CAIS will have the right to that dedicated amount of bandwidth for 20 years, Rabin said. ...