This morning, fallout from U.S. District Judge Thomas Penfield Jackson's
finding of fact about
hasn't stopped Net investors, who seem to have taken the news in stride.
Join the discussion on
Message Boards. This was reflected in
TheStreet.com Internet Sector
index, which actually traded as high as 835.04, eclipsing its previous all-time high of 824.20 set April 13. Recently, the index was up 17.83, or 2.2%, at 832.55.
Microsoft was down 4 1/2, or 5%, at 87 1/16 in early trading as analysts attempted to ease concerns that the ruling would be an ongoing problem for the company.
Salomon Smith Barney
said that weakness in the stock actually represented a buying opportunity. And in what could be seen as somewhat ironic,
, whose Linux system actually competes with Microsoft, was up 17 9/16, or 20%, at 103 1/2.
Among stocks in the news,
was up 6 3/8, or 4.6%, at 141 3/8. The company today unveiled its
, which it says is the first fully enabled Internet network of audio and video content.
was up 4 5/8, or 8.5%, at 57 1/4 as other news outlets began to pick up on news reported in
Thursday that it would be expanding its name-your-own-price business model to long-distance telephone calls.
New Era of Networks
was up 6, or 14%, at 49.
Credit Suisse First Boston
upgraded the stock to buy from hold and raised its price target to 58 from 32.
Credit Suisse First Boston also initiated coverage of
with a buy rating and 12-month price target of 35. First Boston was lead underwriter for Netcentives' IPO in October. After trading as high as 25 7/8, Netcentives recently was down 2 1/16, or 8.8%, at 21 1/2 as traders took advantage of the early spike to take profits.
was down 10 1/2, or 7.6%, at 128. After Friday's close, the company said it would release up to 2.5 million shares of stock that had been subject to lockup.
was down 15/16, or 9%, at 10 3/4 as the online grocer attempted to ease concerns that it would have enough money to continue operations. Peapod said today that it has available more than $15 million in cash and marketable securities that would fund operating needs into the third quarter of next year and would retain an investment banking firm to obtain additional financing.
The drop in price comes in response to an admission in a filing with the
Securities and Exchange Commission
that indicated "existing cash and marketable securities may be insufficient to fund the company's operations and capital requirements for the next year and is currently evaluating financing opportunities."