EarthWeb Up 16.7% on Restructuring - TheStreet

EarthWeb (EWBX) was up 16.7% in midmorning trading after announcing it will sell 14 Web sites and 18 e-mail newsletters and focus its business instead on career services for tech professionals.

Internet.com

(INTM)

will buy the sites and newsletters for an undisclosed amount. Internet.com was down 1.8%. EarthWeb said it will take a fourth-quarter charge of $42 million to $47 million as a result of the deal. It also said it expects a 24- to 25-cent loss for the fourth quarter. The Street is estimating 25 cents.