Internet Stocks Are Mixed Ahead of Humphrey-Hawkins - TheStreet

Internet stocks were mixed as the trading session wound down, with traditional plays giving way to more in-favor stocks in the sector.

TheStreet.com Internet Sector

index was up 6.68, or 0.59%, at 1141.96 in recent trade. The DOT had traded as high as 1151.74 before running out of gas, while

TheStreet.com New Tech 30, which includes some of the more hip Net plays, was holding onto gains, up 17.78, or 2.6%, at 706.86.

Traders were not getting overly aggressive ahead of

Federal Reserve

Chairman

Alan Greenspan's

Humphrey-Hawkins testimony on the economy and monetary policy before the

House

banking committee. As our own Elizabeth Roy pointed

out in an earlier piece, Greenspan's testimony has often triggered weeklong bond-market moves in excess of 2 points on the long Treasury bond in one direction or the other. And a strong move in the Treasury market would undoubtedly have an impact in stocks.

In addition to Greenspan, Treasuries and the stock market will be focused on the inflation indicators set for release tomorrow and Friday. The

Producer Price Index

will be reported tomorrow, with the

Consumer Price Index

to follow Friday. Their impact on expectations for Fed policy has been great of late.

Traditional Internet bellwethers were having another rough go midday and were serving to hold back the rest of the sector.

Yahoo!

(YHOO)

was down 3 5/8, or 2%, at 166 3/8 in recent trade. Yahoo! may be smarting from yesterday's strong earnings

report by rival

Lycos

(LCOS)

. Lycos was up 4 7/16, or 6%, at 73 1/2.

Also,

Amazon.com

(AMZN) - Get Report

was off 1 15/16, or 3%, at 71 7/8, while

eBay

(EBAY) - Get Report

was down 3, or 2%, at 145 1/2. Check out

TSC

columnist Adam Lashinsky's

take on the out-of-favor consumer-oriented Internet companies in an earlier piece.

One traditional play breaking out was

CNet

(CNET) - Get Report

. The stock was up 8 25/64, or 16%, at 61 1/2 today. Sources said that company management was on a road show this week, which may be accounting for some of the stock's gains.

Earlier this week, CNet announced a deal with

Ingram Micro

(IM)

in which Ingram will license CNet product data to expand its content offerings on its e-commerce marketplaces to more than 140,000 resellers. The data is designed to enhance the purchase decisions of computer product resellers online. Note that

pcOrder

(PCOR)

, a competitor to CNet data services, has fallen since the announcement was made on Monday. pcOrder was down 3/16, or 0.57%, at 32 7/8 today after trading as high as 44 on Monday.

Kana Communications

(KANA)

was up 18 1/8, or 7%, at 266 1/8. The customer service software maker said that it would provide software to manage online user email for Yahoo!

And

StarMedia

(STRM) - Get Report

was up 3 1/4, or 6%, at 57 1/4 after the company said today that it was offering free Internet service in Latin America.