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Net Stocks Bounce Back Ahead of AOL Earnings

Amazon will also report this afternoon as the focus remains on earnings.

SAN FRANCISCO -- Net stocks were mostly firmer Wednesday as Tuesday's storm blew over and a pair of highly touted IPOs prepared to make their debuts. Internet Sector

index was up 17.32, or 2.9%, at 611.05 after dropping 23 points Tuesday. Internet bellwethers

America Online



(AMZN) - Get Report

, which will report earnings after the close, were solid in the early going, taking back some of Tuesday's losses.

America Online was up 2 7/16, or 2%, at 115 5/8 after falling more than 5 Tuesday. AOL is expected to earn 11 cents a share for its fiscal fourth quarter, according to analysts surveyed by

First Call

. was up 3 3/4, or 3%, at 123 7/8 after dropping more than 11 points Tuesday. Amazon, featured in an earlier

piece on


, is expected to report a second-quarter loss of 51 cents.

Wednesday also brought a mostly positive open for a number of Net companies that reported earnings after the close Tuesday.


was up 1, or 2%, at 47 1/8 after reporting a second-quarter loss of 16 cents a share. The latest-quarter results beat the First Call estimate, which had it losing 26 cents a share, and narrowed the year-ago loss of 24 cents a share. Revenue rose to $6.5 million from $4.4 million a year ago. The Internet community also said it will join the online auction business.

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was up 5/8, or 1.6%, at 40 5/8, after beating earnings estimates. The company, which is being acquired by


(DIS) - Get Report

, posted a third-quarter loss of 36 cents a share. Infoseek lost 4 cents a share a year ago and estimates predicted it would lose 42 cents in the latest quarter. Revenue rose to $36.1 million from $17.1 million a year ago.


(RNWK) - Get Report

was up 5 7/16, or 7%, at 83 1/4 after reporting it lost less than a penny a share for its second quarter, beating the year-ago 4-cent loss and the consensus estimate for a loss of 2 cents a share. Revenue rose to $28 million from $15.1 million a year ago.


(ATHM) - Get Report

was up 1 9/16, or 3.5%, at 46 5/8 after matching earnings estimates with a 2-cent loss for its second quarter, vs. the year-ago 5-cent loss. Revenue rose to $100.4 million from $42.2 million a year ago.

And the Internet IPO market remains a bright spot. Two Internet IPOs will debut today and should see good interest, though


was expected to take the

spotlight. The price range for the online music distributor's 12.3 million-share offering was lifted from the $9 to $11 originally expected to $16 to $18 and then $24 to $26 before the stock was priced at $28 Tuesday evening.

And shares of

(VOYN:Nasdaq), the largest ISP in the Midwest, were priced at $15.