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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: Andrew Vargas who wrote (20359)	3/5/1999 7:52:00 PM
From: neverenough	Read Replies (1) \| Respond to of 27307

Looks like the party is on again! March 05, 1999 16:08 Bargain hunters boost Web stocks amid market rally By David Brinkerhoff NEW YORK, March 5 (Reuters) - Investors rushed back into the market for Internet stocks on Friday to take advantage of bargain prices. Strength in Internet stocks was part of a broader Nasdaq rally across all technology sectors. Analysts said investors were returning to the market after fears of overvaluation scared them off in recent weeks. In early afternoon dealing, the technology-laden Nasdaq rose about 37 points, or 1.63 percent, to 2330.36. Meanwhile, the American Stock Exchange's index of cyber stocks rose about 14 points, or 1.92 percent to 747. Yahoo! Inc. led the Internet group higher after analysts praised the portal giant for its strong business outlook. The stock was the fourth biggest gainer on the Nasdaq, as shares rose to about $158.75, up $7.25, or 5 percent in early afternoon Nasdaq trade. The Santa Clara, Calif.-based company, which operates some of the Internet's most popular destinations, gave strong business presentations at an Internet business conference this week in Utah, analysts said. The presentations convinced some Wall Street analysts that the stock was a bargain after dropping 32 percent below its all-time high of $222.50 on Jan. 12. "We continue to believe Yahoo! is among best-positioned company's in the Internet arena," said Lise Buyer, an analyst with CS First Boston, who reiterated her buy rating on Yahoo. Analysts said many Web stocks were ripe for picking after falling sharply recently. "We recommend investors use current volatility of Internet stocks to opportunistically build or add to positions," she said. The broader technology rally was also fueled in part by Thursday's big pact between computer maker Dell Computer Corp , and International Business Machines Corp. . The combination of recent high-powered technology deals and positive developments at a Wall Street Internet conference in Snowbird, Utah, this week convinced some Wall Street analysts that cyber prices are a bargain after recent sell-offs. "People are realizing there are very real businesses being built here," said Hambrecht & Quest analyst Paul Noglows, who raised his Yahoo rating to buy from hold on Friday. One bright spot at the conference were Yahoo's plans to expand sources of advertising revenue beyond Web Site ads, adding direct marketing, subscriptions and premium services. Among other Internet gainers were America Online , which announced a multimillion-dollar marketing deal with Verio Inc. this week. Shares rose about 31 cents to $86.75 on Friday. Amazon.com Inc. shares rose $2 to $122.125, while Broadcast.com Inc. shares rose $1.81 to $89.56. Shares of GeoCities , which Yahoo has agreed to buy, rose $5.19 to 101.875 while CNET Inc. shares rose $13.25 to $153.