Internet stocks opened mixed, with positive news on several companies providing support, but pre-holiday profit-taking keeping others on the defensive.
TheStreet.com Internet Sector
index was up 0.70, or 0.1%, at 949.99 in early trading.
Yesterday's big decliner,
, was up 6 1/4, or 9%, at 76 1/2 early today.
took a closer look at the company in a
piece late yesterday. Meanwhile,
Maria Bartiromo was discussing positive comments on Extreme made by
analyst Paul Johnson, which we reported
yesterday. Robertson Stephens has done underwriting for Extreme.
, which dropped in sympathy with Extreme Tuesday, was up 7, or 3%, at 240 15/16, though that was already off a session high of 250.
Credit Suisse First Boston
initiated coverage of the stock with a buy rating and a 12-month price target of 300. First Boston has not done underwriting for Sycamore.
was up 3 11/16, or 3%, at 127 1/4. The company said late yesterday that it would acquire
Global OnLine Japan
, an Internet solutions provider in Japan. Exodus said the acquisition would accelerate its entry into the Japanese market and expand its managed service offerings and international customer base.
was up 6 13/16, or 3%, at 228 on positive comments from
reported that after a meeting with company officials, Blodget said the quarter was tracking above plans and could beat analysts' expectations.
was down 3 3/8, or 9.4%, at 32 3/8 despite besting earnings estimates Tuesday night. Fatbrain reported a loss of $9.1 million, or 80 cents a share, for its third quarter, vs. the
First Call/Thomson Financial
estimate of an 82-cent loss per share. Sales came in at $8.2 million, compared with $5.8 million in the second quarter.
U.S. Bancorp Piper Jaffray
reiterated a strong buy rating on Fatbrain and raised its price target to 46 from 25. Piper Jaffray has done underwriting for Fatbrain.
was down 1, or 2.7%, at 36 on news that it had filed with the
Securities and Exchange Commission
to sell 3 million shares.