Internet stocks have not been full-fledged participants in the latest technology rally, so weakness early today in front of the weekend should not be too surprising.
TheStreet.com Internet Sector
index was down 11.01, or 0.96%, to 1133.48.
TheStreet.com New Tech 30 was down 13.5, or 1.85%, to 716.89. The snowstorm in New York may have been encouraging some profit-taking as traders head out early for the long weekend.
Among stocks in the news,
Internet Capital Group
was down 1, or 0.86%, to 115.75 after the Internet holding company said it had formed a joint venture with
. ICG and DuPont formed
, a holding company that will develop business-to-business marketplaces in apparel, chemicals, construction and e-procurement.
was backpedaling, down 9 3/8, or 8%, to 113 1/8. Losses came after the company said it had filed with the
Securities and Exchange Commission
for a 15 million-share secondary offering. Sycamore also posted earnings last night, beating Street estimates with a 1-cent gain for its fiscal second quarter vs. the break-even estimate.
continued to rally after receiving its second upgrade in as many days. It was up 2 5/16, or 3.7%, to 65 1/8.
Credit Suisse First Boston
upgraded CNet to strong buy from buy and slapped a $100 price target on the stock. Analysts indicated that a meeting with senior management focused on "strong fundamentals in the core digital media business, and the emerging potential" of CNet's Data Services unit. Yesterday,
upgraded CNet. Note that we
tipped off readers that CNet was on a road show on Wednesday, one day before the upgrades began.
Gene Marcial's "Inside Wall Street" column in
was helping to move a couple of stocks, but our own
handicaps today's plugs in an even more useful
Among the stocks mentioned was
, which is seen as an acquisition target by David Simons, managing director of
Digital Video Investments
. The column also indicated that Jordan Rohan, an analyst at
thinks Hoover's is undervalued and worth 21 a share. It was up 1 15/32, or 16%, at 10 7/16.
The column also features a positive story on
, whose software is used in pens to help authenticate signatures for sales over the Web. It was up 1 3/32, or 13%, at 9 5/8, though it had traded as high as 10 1/2.