From TSC tonight, UBID rose in sympathy to Ebay, Wow some kind of sympathy. My guess is UBID will give back today's gains over the next few sessions.
Net stocks ignored technicals today and rode
positive comments from Morgan Stanley Dean
Witter's Mary Meeker to sharp gains. Meeker
singled out Amazon.com (AMZN:Nasdaq), eBay
(EBAY:Nasdaq) and Yahoo! (YHOO:Nasdaq), and
all three closed higher.
Yahoo closed up 7 1/8, or 4.9%, at 152 7/8.
Amazon.com added 8 11/16, or 8.2%, to 115 3/16,
while eBay closed up 3 7/8, or 1.4%, at 282 5/8,
after trading between 278 and 296 1/2.
uBid (UBID:Nasdaq) rose in sympathy with eBay,
though its gains were much bigger. uBid jumped 19,
or 32%, to 78. Other Net stocks that posted large
gains included DoubleClick (DCLK:Nasdaq), up 8
17/32, or 9.6%, to 97 7/16; Broadcast.com
(BCST:Nasdaq), up 8 13/16, or 12%, to 78 1/2; and
Excite (XCIT:Nasdaq), up 8 7/8, or 9.5%, at 102
3/8.
Meeker also downplayed the impact of the
government's antitrust action against Microsoft. Its
stock rose 6 5/8 higher, or 4.5%, to 155 7/16. |
