Different day, same story. Technology stocks closed higher, with the Nasdaq Composite Index setting another record. Sorry for being so boring, but this is getting a little tedious.
TheStreet.com Internet Sector
index closed up 24.54, or 2.2%, at 1161.73.
TheStreet.com New Tech 30 finished up 12.99, or 2%, at 660.90.
B2B stocks were strong as well. A strong productivity
report this morning helped fuel today's rally, and traders continued to throw money at technology shares. The Comp added 106.31, or 2.5%, to 4428.08.
The charge higher was led by a couple of Net stalwarts,
, though without any specific news attached to either stock. Yahoo! finished up 19 1/2, or 6%, at 373 1/2. Apparently, the post-earnings selling the stock has seen for much of the past month has transpired, and traders view current prices as a bargain considering the stock was trading as high as 500 1/8 on Jan. 4. Yahoo! also splits its stock after the close on Friday, and traders may be loading up in advance of the split.
Amazon closed up 8 1/8, or 11%, at 83 1/8. The stock was weak yesterday following the weekly attack from
and news that the company was seeking to raise money in an offering. Amazon thrived despite entry into the market from rival
, which debuted today and closed up 12 1/8, or 93%, at 25 1/8 after trading as high as 35 7/16. Just hours after the online retailer went public, service to the company's site was
disrupted, though a cause was not known.
There were other standouts as well.
, which appeared at the
technology conference today and also splits Friday, closed up 25 7/8, or 16%, at 185 1/8.
ended up 16 1/4, or 18%, at 106 3/4.
closed up 5 15/16, or 9%, at 73 15/16 after
Deutsche Banc Alex. Brown
initiated coverage of the stock with a strong buy rating. Deutsche Banc also downgraded
to buy from strong buy, but the stock still closed up 2 3/8, or 4%, at 59 3/8.