The Internet sector was participating in yet another Nasdaq rally, though weakness in the bond market was holding back some stocks.
TheStreet.com Internet Sector
index was up 9.9 or 0.9%, to 1156.74 in recent trading.
TheStreet.com New Tech 30 was up 12.74, or 1.9%, to 670.65.
B2B stocks were mostly stronger. The Nasdaq was up 63.40, or 1.5%, to 4426.64.
Under the "out-of-control" banner, may we present
Juniper Networks was up 19 1/2, or 10.5%, at 204 1/2. Our favorite explanation for the gains comes from the message boards (all apologies). "Don't ask why, just buy, buy, buy." Juniper could be piggybacking gains made by rival
following Cisco's stellar earnings report Tuesday.
But Juniper may not need a strong Cisco to flourish, as many of the Internet infrastructure companies are on fire.
was up 10 11/16, or 3.5%, to 312 1/4, while
was up 7 3/8, or 3.5%, to 215 7/8.
Hopes for a strong first quarter for infrastructure companies after solid fourth-quarter results have kept investors interested. In addition, there was talk that
would soon release its
HOLDRS, tradeable securities that represent a basket of 20 stocks to include Juniper, Sycamore and
. Cobalt was up 5 5/8, or 5.9%, to 100 7/8. In addition, Merrill will also introduce a business-to-business
Internet and Internet Infrastructure
Dagen McDowell wrote about HOLDRS in an earlier
Digital Island was up 5 3/16, or 5%, to 106 3/4, though it traded as high as 111. The company was mentioned in a
Wall Street Journal
article today on making Web sites more secure in response to the recent cybervandals. According to the article, Digital Island, which hosts other companies' Web sites on its computers, claims it can distinguish between legitimate requests and suspicious traffic designed to shut down a Web site.
Network Solutions was soaring, up 37 7/8, or 15%, at 293 7/8 after reporting stellar earnings
numbers this morning.