From TheStreet.com..Net Stocks Ignore Declines in Box Makers
By David Shabelman
Staff Reporter
2/26/99 2:02 PM ET
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.
eBay (EBAY:Nasdaq) 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.
Amazon.com, 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, Network Solutions (NSOL:Nasdaq) 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.
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