Bears have had the upper hand in the Internet sector the past couple of sessions, though bulls have continued to put up a fight.
TheStreet.com Internet Sector
index was down 14.50, or 1.3%, at 1125.10 in early trading.
TheStreet.com New Tech 30 was down 6.23, or 0.9%, at 677.63.
A number of Internet companies are scheduled to price secondaries this week, including
Ben Holmes takes a look at this week's secondaries and his expectations for the offerings in an earlier
piece, while James Cramer points out the importance of secondaries in
Among stocks in the news,
was off 3 1/4, or 5%, at 57 1/2. The stock shot as high as 68 3/8 yesterday following a
was interested in acquiring a controlling interest in the company from
. Apparently, investors are not placing much stock in the report, or they are taking profits after the pop.
, a European online travel agent, was up 4 3/16, or 19%, at 25 3/4 after announcing an alliance with
. The two-year agreement makes Ebookers.com a primary and preferred travel partner across the AOL and
services in Europe.
was up 1/16, or 0.33%, at 19 1/4 after forming a joint venture with
to sell beauty and personal care products online. Unilever and iVillage plan to provide $200 million in cash, intellectual property, marketing and other resources, Unilever said. Unilever was up 1 1/2, or 3.6%, at 42 7/8.
Earnings season is all but over, but a few continue to trickle in.
was up 7 1/4, or 7.88%, to 99 1/4 after reporting a loss of 17 cents a share in its fourth quarter vs. the 40-cent loss Street estimate. Following the report,
Donaldson Lufkin & Jenrette
reiterated a buy rating on the search engine and marketplace and upped its price target on the stock to 160 from 100. DLJ analyst Jamie Kiggen wrote that revenue of $13.3 million was up 58% from the previous quarter and 48% greater than their estimate of $9 million.
was down 5 1/2, or 11%, at 44 despite reporting a fourth-quarter loss of 6 cents vs. the 10-cent loss estimate.