Soaring to dizzying heights over the past few sessions, can you blame the technology sector if it stopped to catch its breath today?
Nasdaq Composite Index
was down 45.62, or 1.0%, to 4738.46 in recent trading after pushing ahead earlier.
TheStreet.com Internet Sector
index was off 37.64, or 3.1%, to 1161.89. Friday's employment report was likely helping keep gains in check. Check out how our own
is setting up for Friday's numbers in an earlier
And while we're linking,
, who can't seem to decide if he wants to be a bear or a bull, had a few tech picks in a recent
column, while chartist extraordinaire
also features some Net plays in her
column. She has a 390 target on
, which was down 13 5/8, or 5%, at 265 today. She also likes
, though would prefer to buy it on a dip to the 120 area. It was nearing that level, down 5 11/16, or 4.5%, to 122 in recent trading.
was getting some of the blame for the selloff despite the stellar success of its
spinoff today. 3Com was down 18 3/8, or 18%, to 85 3/4 after rallying sharply ahead of Palm's debut. Palm, meanwhile, was up 63, or 166%, to 101.
Many companies that were presenting at the
Robertson Stephens Tech 2000 Conference
were on the rise today, though it was difficult to figure out if gains were triggered by daytraders playing the momentum game or institutions that liked what they heard.
was up 4 7/8, or 1.5%, to 327 9/16, though it traded as high as 341 3/4.
was up 1 15/16, or 12%, to 18 5/16, and
was up 5 5/8, or 3%, to 218, though it traded as high as 229.
Online brokerages, which have rallied over the past couple of sessions due to strong trading volumes in the current quarter, were giving it back today.
was down 1 5/8, or 6%, to 24 9/16;
was down 1 7/8, or 9%, to 19 1/4;
National Discount Brokerage
was off 3 9/16, or 7.6%, to 43 9/16;
was down 1 5/8, or 10.6%, to 13 3/4; and
was down 2 7/16, or 5%, to 44 1/16.
, was up 1/2, or 1%, to 47 3/4, though it traded as high as 50 1/2.
upped its price target on the firm, which clears many of the trades from online brokerages, to near-term accumulate from neutral with a 12- to 18-month price target in the low 60s. Also,
Putnam Lovell deGuardiola & Thornton
raised its first-quarter estimate on the company to 95 cents from 35 cents. The price target was raised to 75 from 53. The
First Call/Thomson Financial
estimate for Knight/Trimark is a 64-cent gain.