Net Sector Resumes Confident Momentum

CMGI and priceline.com are two of the biggest percentage gainers among Net stocks this morning.
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Net stocks were picking up where they left off yesterday in early trading: moving higher, now with the self-confidence of a sector that has the

Fed

behind it.

CMGI

(CMGI)

was adding 17.9% after

Goldman Sachs

resumed coverage of it with a market outperform rating.

The promise of a $1.1 billion charge wasn't deterring investors from naming higher prices for stock in

priceline.com

(PCLN)

this morning. The stock was up about 15.9% after the company said it would take that charge in connection with plans to sell tickets for the three major airlines it doesn't already serve:

UAL

(UAL) - Get Report

unit

United Airlines

,

AMR

(AMR)

unit

American Airlines

and

US Airways

(U) - Get Report

.

Phone.com

(PHCM)

was slipping 4.7% after setting plans to sell 6.6 million shares at a price of $135 per share in a public offering.

Terra Networks

(TRRA:Nasdaq ADS) was exploding higher in its trading debut, up about 214%, at 41 3/4, after its 22.3 million American depositary shares were priced by Goldman Sachs above-range at $13.41 a share. Terra Networks provides Internet access in Spain and Latin America.

The Internet bellwethers were mixed.

Yahoo!

(YHOO)

was off 1.4%;

America Online

(AOL)

was down 0.1%;

Amazon.com

(AMZN) - Get Report

was up 0.5%; and

eBay

(EBAY) - Get Report

was up 2.1%.