SAN FRANCISCO -- After stumbling across a rough patch, Internet IPOs seem to have righted themselves once again, contributing to recent strength in the sector. While investors have been pickier about just which companies they are buying, the IPO madness seen earlier this year has returned in a select number of new offerings.
A prime example is
. The question-answering search engine
soared an incredible 364% in its first day of trading Thursday. It recently was up 3 1/8, or 5%, at 68 1/16.
, an Internet telecommunications software company, which also had a successful debut Thursday, was back on the rise today. It was up 10 15/16, or 43%, at 36 7/16.
Clarent may be benefiting from last week's strong market entry of
, a network equipment maker. It was priced at 34 and traded as high as 162 Thursday before seeing some profit-taking. It recently was down 7 1/4, or 5%, at 138 3/4.
Another recent IPO that took off today was
. On Thursday, GoTo.com said it had entered into an agreement with
division to become a leading search provider for Netscape's Net Search program search engine. GoTo.com was up 12, or 33%, at 48 1/2. AOL was up 1 7/8, or 2%, at 114.
After a mediocre first week, shares of
have soared the past two days after the company said it had entered an agreement with
to use Stamps.com postage technology in its small-business software. Stamps.com was up 9 1/16, or 41%, at 31 5/16, while MySoftware was up 2 7/8, or 18%, at 18 7/8.
In other news, shares of
were trading up 4 3/4, or 26%, at 23 3/8. A rumor is circulating that
may be interested in buying the online auctioneer and retailer for $30 a share, and gains may be causing a short squeeze. But as a recent
indicated, historically, Amazon.com has invested in private companies and ones without an established consumer brand. And as Amazon.com expands into new areas, it usually expands alone. Amazon was down 5/16 to 122 1/16.