Enough about Abby Joseph Cohen. Technology stocks were again on the defensive early today, but you couldn't really blame the Goldman Sachs analyst for the weakness.
was down 53.95, or 1.1%, at 4779.94 in early trading after yesterday's 124-point slide, triggered by Cohen lowering the weighting of technology stocks in her aggressive portfolio. Despite a plethora of mostly positive news, Internet stocks were on the decline today as well.
TheStreet.com Internet Sector
index was down 14.31, or 1.2%, at 1202.78 in early trading.
TheStreet.com New Tech 30 was down 15.73, or 2%, at 790.40.
was down 1 5/16, or 25%, at 3 3/4 after
The Wall Street Journal
reported that the company's independent public accountant,
, said there was "substantial doubt" over whether CDnow can continue as a going concern.
was lately up 3 11/16, or 9%, at 37 3/8 after the company announced it had extended its distribution agreements with its cable partners, giving
more control of the company. AT&T, which currently holds 58% of Excite@Home's voting stock, will now have the right to elect a majority of board members and will incorporate Excite@Home's financial results with its own. AT&T was down 1 1/2, or 3%, at 58 1/8.
was down 9/16, or 2%, at 31 1/2 despite news that Patricia Fili-Krushel, who resigned as president of the
ABC Television Network
Tuesday, would become president and chief executive of the consumer division of the Internet health care company. Her primary responsibilities at Healtheon/WebMD will be to oversee the company's consumer offerings and programming.
was down 1 1/4, or 2%, at 67 11/16 recently after announcing that it had established a business incubator,
. According to the company, LycosLabs will focus its attention on up to 12 start-ups per year. Business concepts in core areas of technology, content, commerce and community will provide the major thrust of LycosLabs. The new business differs from
, a venture capital fund launched last year by Lycos and a number of partners that focuses on later-stage start-ups.
was down 2 51/64, or 4%, at 65 7/16 lately. The streaming media company announced a strategic relationship with
, a provider of satellite-based video and data broadcast services, to provide worldwide broadband delivery of Internet media via satellite.