To say that the technology sector has been volatile of late is an extreme understatement. It's become a market that has been tough to get in before it runs away from you and tough to get out after it starts to go down. Things don't look like they're going to change anytime soon.
Internet stocks opened mixed today, as traders took profits in some issues and bought into others that were caught in the downdraft earlier in the week.
TheStreet.com Internet Sector
index was down 3.73, or 0.3%, to 1266.93, though it had traded as high as 1278.14.
TheStreet.com New Tech 30 was down 16.97, or 2.1%, to 796.96.
Among stocks in the news,
was down 1 1/16, or 1.5%, to 70 15/16.
The Wall Street Journal
has been quietly lobbying
over fears that its programming would be denied fair access to AOL's Web sites if the online company's merger with
Other, more traditional Net names also were lower after rallying sharply the past couple of days.
was down 1 13/16, or 1%, to 195 1/4, while
was off 2 7/8, or 1.2%, to 229 3/4 after it traded to an all-time high yesterday.
was off 16 1/16, or 7.5%, to 199 1/2.
was up 5 31/32, or 5%, to 128 after the company said this morning that results for the current quarter would exceed Street expectations. The
First Call/Thomson Financial
estimate for the quarter is for a 28-cent loss.
The announcement appears to be a response to the hit the stock took after it was listed in the
piece this week on companies and burn rates. PurchasePro was singled out in the article, though company CEO Charles Johnson Jr. labeled the report "erroneous," as PurchasePro raised cash in a stock offering last month.
took a closer look at PurchasePro in a
B2B plays were mostly higher, as they were among the hardest hit when the market fell apart.
was up 5 1/2, or 2%, to 266 9/16, while
was up 8 1/4, or 4.6%, to 189 and
was up 7 11/16, or 8%, to 168 13/16.