Who could blame investors in Net stocks for not knowing what to do? Technology continues to be where investors are putting their money, though the Internet sector on whole has lagged other tech sectors.
TheStreet.com Internet Sector
index was down 7.56, or 0.6%, to 1177.00 in recent trading.
TheStreet.com New Tech 30 was down 5.22, or 0.67%, to 776.9. Check out
piece on the out-of-favor business-to-business companies that build and design Web sites.
B2B play that was in favor was
after the Big Three automakers announced
plans for an online parts alliance. It was up 24 7/8, or 14%, to 203 7/8.
said they would form an online business that will combine their purchasing networks for auto supplies. The exchange is expected to be powered by
and Commerce One, both of which will have equity in the venture.
was up 12 3/4, or 10.5%, to 133 3/4.
Deutsche Banc Alex. Brown
upgraded the computer networking company to strong buy from buy. DB Alex. Brown has done underwriting for Foundry.
Analysts admitted that with the stock 41.3 times their 2001 revenue estimate of $360, the valuation was not inexpensive, but they expect "significant upside to the stock" due to product introductions and ongoing strength in Foundry's customer base. They wrote that Foundry should trade in line with other new premier vendors including
was up 7 3/16, or 5.5%, to 143 1/2. The company was one of a number
mentioned by Cramer as a stock he owns because of its inclusion as one of the top 10 holdings in
was up 6 1/2, or 12%, to 61 1/8, as
David Faber returned to the story he first broke after someone told him that
would gain controlling interest of the company. Faber said that AOL would exchange stock for 10 million Net2Phone shares.
Finally, even with gas prices on the rise,
was getting little mileage out of news that it would be offering name-your-own pricing for gasoline. priceline will let users name their own price for up to 50 gallons of gas a month. After locking in the price, drivers can get their gas at local major-brand gas stations. priceline claims consumers will be able to save 10 cents to 20 cents on each gallon through the service. priceline was down 5/8, or 1.1%, to 56 1/8 in recent trading.