Internet consultant

Modem Media

(MMPT)

was up 15% in early trading after posting fourth-quarter operating earnings late Thursday of 3 cents a share, well above analysts' expectations of a 10 cent loss but down from earnings of 10 cents in the year-ago period. Revenue for the quarter rose 44%.

TST Recommends

Robertson Stephens

Friday downgraded it to long-term attractive from buy.