Business-to-Business Stocks Head South
Shares of several business-to-business e-commerce concerns hit the skids today, led downward by
Commerce One
(CMRC)
, as one of the company's potential new customers signed instead with a rival.
Commerce One lost $9.39, or 30.1%, to $21.69 in recent
Nasdaq
trading.
On
Wednesday,
VerticalNet
(VERT)
said its technology would power Internet marketplace
Converge
, formerly known as
eHitex
TheStreet Recommends
, which is being set up by major technology companies such as
Hewlett-Packard
(HWP)
and
Compaq
(CPQ)
. VerticalNet said it would receive $107.5 million over three years for the deal. VerticalNet also sold its
NECX
computer chip exchange unit to Converge.
VerticalNet has lost 41 cents, or 7.6%, to $4.97. Fellow B2B
FreeMarkets
(FMKT)
skidded $3.94, or 17.9%, to $18.13.
Ariba
(ARBA)
lost $13.25, or 22.6%, to $46, while
PurchasePro
(PPRO)
fell $1.81, or 11.1%, to $14.50.
