Perhaps the bar was still being set too low. Any number of Internet companies have released quarterly reports since yesterday's close, with most besting Street estimates. Regardless, overall weak market conditions were keeping the upside in check.
TheStreet.com Internet Sector
index was down 2.05, or 0.2%, to 1116.17 in recent trading.
First, a couple of online financial stocks reported earnings ahead of the open, though their movement was stifled as strong numbers were anticipated.
was up 17/32 at 27 13/32 after reporting a loss of 15 cents a share in its fiscal first quarter vs. the 21-cent loss estimate from
First Call/Thomson Financial
. The company said revenue grew to $246 million, up 42% from $173 million in the fourth quarter of fiscal 1999. It added 330,000 new accounts during the first quarter, bringing its total of active accounts to nearly 1.9 million.
, which clears many online trades, was up 1/8, or 0.3%, to 39 1/8 after besting estimates. It reported earnings of 50 cents a share vs. the 40-cent estimate for its fourth quarter.
were down 5 5/16, or 4.3%, to 117 1/2 despite it posting a smaller-than-expected loss of 3 cents vs. the 5-cent loss estimate from First Call. DoubleClick had rallied sharply ahead of its earnings report, particularly after the company said it was splitting its stock 2 for 1 last month.
nailed price action on the stock postearnings in a piece
Deutsche Banc Alex. Brown
reiterated a strong buy rating on DoubleClick, saying the company reported strong numbers over all key metrics. Analyst Shaun Andrikopoulos upped his 12-month price target to 150 from 110. Deutsche Banc has done underwriting for DoubleClick.
raised revenue estimates for 2000 and 2001, though it maintained earnings-per-share estimates for those periods.
was up 6 15/16, or 7.5%, to 98 15/16 after it beat estimates. The Internet portal reported earnings of 16 cents a share vs. the 7-cent estimate. The company also said that it planned to expand in the near future through acquisitions.
U.S. Bancorp Piper Jaffray
upped its rating on Go2Net to strong buy from buy, saying the company had "a blowout quarter," and has major upside potential.
was down 5 3/16, or 5.4%, to 101 1/8 after reporting a fourth-quarter loss of 56 cents a share, which was narrower than the three-analyst expected loss of 63 cents, but wider than the year-ago loss of 30 cents.
was one of the most interesting postearnings movers, up 1 11/16, or 8.4%, to 21 11/16. The Linux software maker surprised investors with second-quarter earnings of 7 cents a share, just one month after warning analysts that it expected to lose 14 cents a share. The company said it recognized tax value on some of its losses and used some deferred tax credits to swing the gap.
was down 15/16, or 0.8%, to 117 13/16 despite beating estimates. Juniper reported earnings of 3 cents a share in the fourth quarter, vs. the 1-cent estimate and the year-ago 22-cent loss.
was down 2 3/4, or 8.9%, to 28 1/8 after matching earnings estimates with a 99-cent loss for its fourth quarter. Sales of $69.9 million compared to $24.1 million a year ago. Registered users topped the million mark, rising to 1.03 million vs. 229,000 at the end of 1998.