Bonds Drag Down Net Stocks With Broader Market

Some of yesterday's big gainers, such as Ask Jeeves, were falling back today.
Publish date:

The bond market is back from its Columbus Day vacation, and it's pulling down Net stocks along with the broader market this morning.

The 30-year Treasury was down 17/32 to 98 16/32, putting its yield at 6.236% and exercising a sobering influence on stocks. In the Net sector, some of yesterday's big gainers were falling back today.

Ask Jeeves


, which yesterday advanced strongly after announcing a deal with


(MSFT) - Get Report

, was lately down 6 1/8, or 9%, to 62.


(BVSN) - Get Report

was down 7, or 4.1%, to 175 1/2 after ramping yesterday on news that


(WMT) - Get Report

will use its applications for the overhaul of its Web site.


Puma Technology


was off 5, or 14.2%, to 30 1/8. Puma picked up 13 1/2 points yesterday after setting plans to launch a free Web-based service synchronizing PC applications and mobile devices.

There is strength in the sector today, though.



, which makes software for e-commerce companies seeking to track the habits of their customers, was rocketing 11 1/8, or 21.4%, to 63 9/16 after announcing that

(AMZN) - Get Report

has signed on to use its E.4 software system.

On the research front, Web infrastructure software firm

Vitria Technology


was up 11 1/2, or 24.9%, to 58 after

Credit Suisse First Boston

analyst Wendell Laidley started coverage with a strong buy and set a 12-month price target of $75. In his report, Laidley wrote that Vitria "is capable of delivering revenue growth of 70%-plus for the next three-five years."

Online ad agency

Modem Media Poppe Tyson


was running up 11 13/16, or 30.1%, to 51 1/4 after it said last night that it expects third-quarter revenue to surpass $21 million, a 90% increase from the year-ago. The company cited client and international growth for the rise in revenues.


(ATHM) - Get Report

isn't getting much support from its announcement that


(IBM) - Get Report

will use the Excite portal as an Internet launch page. Excite@Home was lately down 1 1/8, or 2.3%, to 47 1/16.

Among Internet bellwethers,



was off 4 13/16 to 176 15/16;


(EBAY) - Get Report

was down 2 3/16 to 147 9/16; was off 1 1/8 to 87; and

America Online


was down 2 5/16 to 118 3/4.

AOL unveiled a cross-marketing deal this morning, with


(VO) - Get Report


Universal Studios

, that involves the installation of interactive AOL kiosks at Universal's "Islands of Adventure" theme park in Florida.