SAN FRANCISCO -- There's no blaming the bond today, which has recovered nicely after a string of down days. Rather, concern over both box makers and chip makers is dominating action in the tech sector today and keeping the market on the defensive.
But Internet stocks remain one of the few positives in the market following a number of encouraging comments from
analysts over the past week.
continues to soar ahead of its stock split that takes effect after the close of trading on Monday. It was one of the companies singled out by
Morgan Stanley Dean Witter
analyst Mary Meeker earlier this week.
eBay is up 23 1/2 to 320 1/2. It reached an all-time high of 329 earlier today, at which point it had gained 89 1/2 points, or 38%, this week. The company will split its shares 3 for 1.
, also singled out by Meeker, is up another 2 5/8, or 2.5%, at 127 5/8. It was trading at 84 1/4 on Feb 18. Also,
continues to recover from recent losses. It was up 5 3/16, or 2.9%, to 182 1/4, as it continues to rebound after falling to 127 on Feb. 18.
IPOs on Parade
A couple of more Internet IPOs have debuted today and are seeing relatively good interest.
was priced at 21, far above the expected 13 to 15 range, then soared to 55 1/4 on the opening before trading to a high of 60. It is now down from the opening price, trading around 47.
, which provides Internet-based business software services, was priced at 16 on Thursday and traded to a high of 23 3/8 early on. It was recently trading at 19 7/8, which is below the opening price of 21 5/16.
Note that both of last week's hot IPOs have not shown much movement since their opening day of trading.
, which provides Internet relationship-management software, closed at 42 11/16 last Friday and was trading around 46 today.
, which develops software to monitor and manage Web-site traffic, was trading near 24 today. It closed at 27 1/16 last Friday.