Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (9685)	11/19/2001 12:53:02 PM
From: Mark Fowler	Respond to of 57684

Vert up 21% on heavy volume

To: Bill Harmond who wrote (9685)	11/19/2001 1:47:58 PM
From: Mark Fowler	Respond to of 57684

PHILADELPHIA (Dow Jones)Battered shares of VerticalNet Inc. (VERT) climbed as much as 34% on heavy volume Monday, but the ecommerce company reported no news and had no comment. VerticalNet did not know why the stock was moving, said spokeswoman Nyssa Tussing. Shares traded recently at $1.62, up 28 cents, or 20.9%, on volume of 3 million compared with average daily volume of 694,000. Earlier in the day the price reached as high as $1.80, a far cry from its 52week high of $18.56 on Nov. 17, 2000. The stock's alltime high of $148.38 was reached early last year. The 52week low of 32 cents was reached Oct. 1. Earlier Monday, the volume of block trades had reached 511,200 shares, nearly 24% of the total volume. That compares with an average block volume of roughly 96,000, about 13% of the total average daily volume. VerticalNet, Horsham, Pa., operates 59 industryspecific online marketplaces and develops enterprise software for businesses. Like other businesstobusiness Internet companies, its stock plummeted after such ventures fell out of favor with investors last year. During the first nine months of 2001, the company carried out three major restructuring efforts designed to reduce costs and streamline operations. These efforts included the elimination of about 970 jobs and the closing of facilities, according to a recent filing with the U.S. Securities and Exchange Commission. VerticalNet posted a pro forma loss of 8 cents a share in the third quarter, compared with a 35cent loss in the yearago period; analysts, on average, had expected the company to lose 12 cents a share in period. The company last month said it expects a pro forma loss of 60 cents to 61 cents a share for the year; analysts expect a loss of 66 cents for the period. The company lost 91 cents a share in 2000.