SAN FRANCISCO -- Earnings season has not been generous for investors in Internet stocks.
sold off yet again following release of a solid earnings report last week. And today, two companies that reported better-than-expected earnings on
, were trading lower.
If a pattern has emerged, it's been for stocks to run up into earnings before profit-takers step in either the day before or the day after earnings come in. Yahoo! experienced a sharp decline after it announced its quarterly earnings last week, falling, at one point, more than 40 points from where it was on July 6, the day before its report. It has since recovered some of those losses, but today is down 1 1/4, or 1%, at 158 3/16. EarthLink was recently trading down 2 7/16, or 4%, at 61 9/16. Inktomi was off 4 3/16, or 3%, at 124 11/16.
TheStreet.com Internet Sector
index was lately down 3.34 at 653.86. Among the standouts in the sector are some companies that have yet to report earnings.
continued to flourish from news earlier this week that it launched shopping areas for electronics and toys, and Wednesday's announcement that it had bought a 49% stake in
, an online seller of sporting goods at closeout prices. Amazon reports earnings July 21. Shares of the company were recently up 3 11/16, or 3%, at 138 11/16.
, which slipped earlier this week on news it had acquired
, has recovered over the past two days in advance of next week's earnings report. DoubleClick, which reports earnings on July 19, was recently up 5 1/4, or 6%, at 100 5/16.
, which reports earnings on July 22, was up big again today. On Wednesday,
, which has done underwriting for Network Solutions, reiterated its buy rating on the stock and its price target of 150. Also helping move the stock was news that the company was expected to launch its dot-com directory, which it hopes will be the Net equivalent of the Yellow Pages, in the last week of July. But though the directory product is seen as a great idea, there is still a question as to whether Network Solutions owns the intellectual property contained in that database. Network Solutions was up 6 5/16, or 8%, at 83.
were higher for the second straight day. eBay stock has suffered of late due to well-publicized reports of technical
problems that have plagued its site. But it appears as if the stock is able to recover the further away those problems are, as long as there are no additional problems. eBay was recently up 3 3/4, or 3%, at 126 3/4. It reports earnings on July 26.
Also of note, shares of
were surging after the
U.S. Postal Service
said on Wednesday that it would team with Stamps.com and
to offer a computer-generated stamp, according to a
report. Stamps.com shares were trading up 7 3/8, or 22%, at 40 1/8.
, an Internet-based information and entertainment company, was up more than 10% on news it will team with
to launch an audiobooks channel on Microsoft's WindowsMedia.com site. Under the agreement, Microsoft will feature links from the home page of WindowsMedia.com to audiohighway.com's audiobooks channel. audiohighway.com was recently trading up 3 1/8, or 15%, at 24 1/4. Microsoft was off 1/8 at 94 13/16.
And it's been a smashing debut for the latest high-tech IPO.
, which supplies high-speed DSL customer premises equipment, was recently trading up 32 5/8, or 217%, at 47 5/8.