Alright, can we quit talking about how wonderful the Dow is now?
The rotation out of tech and into cheaper blue-chip stocks lasted a couple of days, but appears to be over. The Dow closed lower today, while the
shot higher. Internet stocks were active participants.
TheStreet.com Internet Sector
index closed up 42.90, or 3.5%, at 1271.92. For the week, the DOT was down around 48 points, though it closed more than 185 points off its low for the week.
TheStreet.com New Tech 30 ended up 16.23, or 2.1%, at 804.87. The Dow finished down 35.37 points at 10,595.23.
There were a number of notable movers.
bounced back from sharp losses suffered both before and after its
announced purchase of
earlier this week. It finished up 19 5/8, or 11%, at 200 1/2.
Other big gainers included
, up 30 9/16, or 15%, at 231 5/8. It gained around 36% on the week.
ended up 21 3/16, or 8%, at 295 1/2. And
plowed up 3 15/16, or 16%, at 29 1/4.
, which beat earnings estimates yesterday, closed up 16 15/16, or 20%, at 103. CacheFlow reported a 24-cent loss for its third quarter beating the 29-cent loss Street estimate.
But there was very little news to move stocks other than yesterday's recovery. The market got a boost from this morning's
Consumer Price Index
report, which did not ignite inflation fears.
closed up 2 1/4, or 3.6%, at 64 1/4 after announcing that it would buy out German media company
stake in AOL Europe in a stock option transaction valued as high as $8.25 billion.
Also big winners were online brokerages, which were riding high on expectations of strong first-quarter numbers. Those feelings were reinforced by positive
finished up 3 1/16, or 12%, at 29 1/4;
ended up 5 1/4, or 10.5%, at 55 1/4;
picked up 1 1/8, or 6%, to 20 3/8; and
gained 4 3/4, or 10%, to 51 3/4.
B2B stocks, which have had a tumultuous week, ended mixed. Check out
piece on how fund managers were playing the B2B game in an earlier
closed up 20 1/4, or 15%, at 151 3/4; while
ended down 10 3/16, or 4.5%, at 218 15/16.