Let's just write this off to triple-witching and start up again on Monday.
TheStreet.com Internet Sector
index closed down 10.54, or 0.9%, at 1113.09, roughly 50 points off its session high of 1163.77. Triple-witching, the quarterly expiration of stock-option, index-option and index-futures contracts, may have caused trouble for the market today.
had perhaps the most hair-raising session of the group. The domain name registrar ramped up yesterday and much of today on news that it will be added to the
as of the start of trading on Monday. But profit-takers swooped in and nailed the stock in the last hour of trading. It closed down 8 1/16, or 3%, at 239 15/16 after trading as high as 274 3/4.
finished up 17 1/4, or 7%, at 278 7/8. The stock has rallied this week after announcing a stock split last Friday. Shareholders of record as of the close of trading on Monday will receive two shares for every one they hold. Foundry will begin trading on a split-adjusted basis on Jan. 10. In case you missed it, check out the exchange on the value of stock splits by our own
James Cramer and
closed up 10 3/4, or 4%, at 281 3/4. The stock has been on a roll since announcing a new product to speed delivery of online applications
yesterday. It was up 18% Thursday.
, an advertising holding group that has multiple interests in Internet advertising and marketing firms, closed up 5 1/16, or 5%, at 107 7/16. The company was featured in a
earlier this week.
ended up 9, or 13%, at 79. There was no news on the company, but the stock may have seen a short squeeze after a couple of up days.
But while there were some standouts, the Net sector had only a so-so day. A number of issues saw profit-taking after nice run-ups.
, which soared yesterday after reporting earnings on Wednesday and announcing a stock split, closed down 9 3/4, or 4%, at 211 13/16.
reported that CMGI filed with the
Securities and Exchange Commission
to sell from time to time up to $1 billion in debt securities, common stock and preferred stock.
Also seeing some profit-taking were
, down 12 9/16, or 4%, at 304, and
, down 7 3/8, or 6%, at 118 1/2.
The biggest loser of the day was
U.S. Bancorp Piper Jaffray
cut third-quarter sales estimates for the entertainment software maker to $625 million from $670 million and trimmed profit expectations to $1.29 per share from $1.39.
Piper Jaffray analyst Anthony Gikas wrote the company had a "slight weakness in Nintendo 64 software sales," which led to the revenue drop. However, Gikas noted that he was increasing his gross margin on the company by 100 basis points "to reflect a higher percentage of sales from higher margin PC and PlayStation product."