SAN FRANCISCO -- Internet stocks were backtracking early today with last week's market slide still fresh in traders' minds.
TheStreet.com Internet Sector
index was lately down 5.85, or 0.9%, at 679.25, though it traded as low as 673.18 this morning. Gains in the
were also helping to lift the
out of its slump.
Among stocks in the news,
was recently up 15/16, or 0.9%, at 109 15/16 on news that it told some analysts that it had had added 950,000 subscribers in its fiscal first quarter. That was above the 850,000 estimate that
said it had anticipated. AOL is expected to report earnings of 13 cents a share for the quarter when it reports Wednesday, according to
First Call/Thomson Financial
, though Merrill analyst
wrote that a penny or two upside was possible.
was up 1/16, or 0.4%, at 17 3/8.
Hambrecht & Quist
, the tech investment bank that has been gobbled up by
, today announced plans to start distributing its lead-managed IPOs and other equity offerings through Ameritrade.
reported on the agreement on
Also among online brokers,
was off 3/16, or 0.8%, at 24 7/8.
reported that the company would offer high-speed Internet access to its most active investors. Traders who place more than 30 trades each quarter will be offered access through
. E*Trade also said that it had expanded a licensing agreement in Germany with the creation of a new joint venture
E*Trade Germany AG
, which will include
Berliner Effektenbank AG
New York Broker Germany AG
co-founder Paul Allen shows interest in a company, people take notice. That's what's happening with
today after the online bookstore for professionals said that Allen's
had invested $20 million in the company. Fatbrain was up 2 3/4, or 14%, at 23 early on. The money is expected to fuel Fatbrain's e-commerce initiatives, including eMatter, its online digital publishing platform.
were up 1/8, or 0.8%, at 15, on news that it had entered into an alliance with
. H-P said it would include a CD-ROM in some of its computers that have HP DC that will include software from
, which allows users to record, organize and play digital music, along with 10 free MP3 tracks from Emusic.com. H-P was off 2 1/4, or 2.5%, at 80 1/2.