Other than a couple of acquisitions and Yahoo!'s (YHOO) site being down for a substantial amount of time, there was little to spark the Internet sector today and trading was decidedly mixed.
TheStreet.com Internet Sector
index, or DOT, closed down 3.07, or 0.3%, at 1137.19. The minor losses came despite gains in the broader technology sector. The
Nasdaq Composite Index
added 77.29 points today.
Yahoo! generated some much-needed excitement when its site had problems, but the outage took its toll on the stock. Yahoo! finished up 1/2, or 0.1%, at 354, coming back from a low of 347 after the outage was reported, though it traded as high as 363 earlier in the session.
A Yahoo! spokeswoman said the site was down intermittently beginning around 10:45 a.m. PST, and it was back up around 1:25 PST. "We haven't firmly identified the cause. As you can imagine, our engineers are working vigorously to identify and remedy the situation," the spokeswoman said before the site was back up. Note that
on top of the problems around 11:18 a.m. PST.
was reporting that
online trading site was having problems as well today, and the company canceled after-hours trading. Schwab still managed to finish up 7/8, or 2.3%., at 38 13/16.
In regard to the buyouts, companies that were being acquired soared, while those that had to put up the cash, or stock, saw short-term losses for what they hope will be long-term gains.
closed up 44 13/16, or 32%, at 183 5/16 after
agreed to buy the supplier of customer-service software for more than $4 billion in stock. Kana, which provides online customer-service software, finished down 18 3/8, or 7%, at 240 1/2.
joint newsroom took a look at the deal in an earlier
accurately predicted mergers among software developers in a story that ran last Thursday, and mentioned
in the article.
Also, streaming-media company
closed up 12 3/8, or 10.6%, at 129 3/8 after it agreed to
. Akamai, which provides services that help speed the transfer of text and graphics on the Internet, closed 6 3/8, or 2.7%, at 228 5/8. At the time of the announcement, Akamai shares were valued at more than twice the value of InterVu shares, and the ratio offered in the stock swap of 0.5957 Akamai shares for each InterVu share created a $22 per share premium, based on Friday's stock prices.
, which makes systems that manage Internet traffic flow, finished down 13 1/16, or 20.6%, at 50 5/16 after it said it would buy privately held
, a provider of event-management products, in a deal valued at $415 million.