Hard-Hit Net Ad Stocks Rise Monday - TheStreet

Internet advertising stocks, which have taken a battering of late, edged upward Monday amid a flurry of press releases and other developments.

Net advertising bellwether

DoubleClick

(DCLK)

, set to meet with a select group of analysts this afternoon to talk about opportunities in email and wireless advertising, was up 3.2% to $34.75. Earlier in the day, the combination portal-sweepstakes site

iWon

said it signed a two-year agreement to be one of the 1,300-plus sites represented by DoubleClick in an advertising network.

Meanwhile, DoubleClick rival

L90

(LNTY)

was up even more Monday afternoon, up 10.7% to $7.44. The ad firm said Monday morning that it is serving more than 100 million Internet advertisements a day, or 3 million a month. DoubleClick has sued L90, alleging that the firm has infringed on a DoubleClick ad-serving patent.

Also in positive territory were

Engage

(ENGA)

, up 5.6%, and

24/7 Media

(TFSM)

, up 5.8%.

Internet advertising hasn't been a bullish place in recent months. Last week,

Merrill Lynch

Net analyst

Henry Blodget said on the heels of a preannouncement by advertising firm

Avenue A

(AVEA)

that more preannouncements would be likely, and that DoubleClick and other Internet leaders would post "solid but not great advertising and commerce revenue results in Q3."

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