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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: RTev who wrote (7934)	6/21/1999 10:55:00 PM
From: Susan G	Read Replies (1) \| Respond to of 28311

From The Street.com TECH STOCKS >> TECH STOCK UPDATE Net Stocks, Big-Cap Tech Lead a Happy Day on the Nasdaq By David Shabelman Staff Reporter 6/21/99 5:09 PM ET SAN FRANCISCO -- Technology stocks boosted the Nasdaq Composite Index as Internet issues' momentum continued to build. Meanwhile, the big-cap Dow Jones Industrial Average trickled lower as bond yields rose. America Online America Online addressed two concerns, saying it was considering offering free Internet access in Britain and investing $1.5 billion in Hughes Electronics to form an alliance to offer high-speed Internet service via satellite. AOL's stock closed up 3 11/16, or 3%, at 115 11/16. Rotation out of cyclicals and into technology boosted the Nasdaq to a 67-point gain, with large-cap names leading the way, while the Dow dropped 39.58 points as the yield on the long bond climbed back above 6%. Intel (INTC:Nasdaq) bounced back from Friday's weakness to close up 1 7/8, or 3%, at 56 13/16. U.S. Bancorp Piper Jaffray analyst Ashok Kumar downplayed analysts' concerns with possible delays in the rollout of the chipmaker's 0.18-micron process technology. Dell (DELL:Nasdaq) closed up 2 15/16, or 6%, at 38 15/16 following an interview with CEO Michael Dell in this week's Barron's. Dell was naturally upbeat on the future of the PC, saying it "remains the preferred way to get access to information, and it is going to be at the core of the computing world for years to come." Microsoft (MSFT:Nasdaq), another tech leader, added 3 15/16, or 5%, to settle at 88 15/16. Internet stocks surged as the sector returned to favor with investors. TheStreet.com Internet Sector index advanced 30.17, or 5%, to 594.51. Yahoo! (YHOO:Nasdaq) was one of the top point gainers, closing up 14 7/16, or 10%, at 158 7/8. Also, priceline.com (PCLN:Nasdaq) closed up 12 5/16, or 13%, at 106 5/16. The stock may be seeing a short squeeze along with other Internet-related issues. Lycos (LCOS:Nasdaq) closed up 8 7/8, or 10%, at 96 5/8. The Web portal said it was entering an agreement with Lotus, a unit of IBM (IBM:NYSE), to provide access to Lycos in a new version of Lotus Notes. IBM closed up 4 1/4, or 3.5%, at 125. Go2Net (GNET:Nasdaq) remains among the hottest of the steamy Internet sector. Last week, shareholders approved an investment from Microsoft co-founder Paul Allen that gave him a 34% stake in the company. In addition, Go2Net's chief operating officer said last week he was comfortable with analysts' estimates of a 9-cent-a-share profit in the company's current third quarter. Go2Net climbed 26 3/4, or 21%, to 152 1/8. The big time...even Cramer noticed today <vbg> but as the biggest point gainer today gnet should have been written about in the first paragraph!