On a day that the
was up more than 100 points at one time and the
was up 240, Internet stocks were mixed.
TheStreet.com Internet Sector
index, or DOT, closed down 17.39, or 1.4%, at 1253.27. The DOT traded as high as 1285.32, but was unable to get above yesterday's high of 1289.57.
TheStreet.com New Tech 30 slipped 9.85, or 1.2%, at 804.08. Microsoft closed up 8 5/8, or 8%, at 111 7/8, on reports that it was close to reaching a settlement with the government over antitrust issues.
And can you blame Net investors for taking a breather? The sector raced higher in the day and a half after the
announced a rate increase (no matter what the market says, we think the Fed is still a force to be reckoned with). And the recent drop in technology stocks is still fresh in the minds of investors, and some even may have figured out that markets do not always go up, and it's wise to take some off the table when you've got a nice profit.
Today could be called "Profit-Taking Lite." Many of the traditional Internet stocks that have rallied of late saw some light profit-taking, with no particular catalyst responsible for the losses.
, which traded to an all-time high of 240 1/4 yesterday, closed down 9 1/16, or 4%, at 223 9/16.
finished down 6 3/16, or 3%, at 191.
finished down 3, or 4.2%, at 67 11/16. And
fell 15 11/16, or 7%, to 199 7/8.
closed down 1 1/4, or 2%, at 70 3/4, though with some news that may have been behind the losses.
The Wall Street Journal
has been quietly lobbying
over fears that its programming would be denied fair access to
Web sites if the online company's merger with
B2B plays have been on a roller-coaster ride of late, and were mixed today. Many also have rallied in the past couple of sessions as traders sought bargains after last week's selloff.
, which went from a low of 151 on Tuesday to a high of 190 1/2 today, closed down 9 3/4, or 5.4%, at 171.
, which climbed from 149 Tuesday to 187 1/4 today, closed down 10 7/16, or 6%, at 179 11/16.
closed up 2 1/2, or 9%, at 31, though with no news to account for the move.