DECLINE IN NET STOCKS COULD SIGNAL SLOWDOWN.Byline: Aimee Picchi Bloomberg News America Online See AOL. Inc., eBay Inc., Charles Schwab Charles Schwab can refer to:
n. An obstacle or impediment. stumbling block Noun any obstacle that prevents something from taking place or progressing Noun 1. . Internet stocks Internet stock The equity security of a company engaged primarily in a business associated with the Internet. Also called dot-com. had soared in the past year on expectations that revenue from Web-based businesses would boom for the next five to 10 years. That pace might not prove as steady as projected, based on recent events, analysts said. Visitors to the Web's top sites was nearly flat in April, said market researcher Media Metrix Inc. Top online broker Charles Schwab Corp. said its commission trades fell 28 percent in May to a six-month low. America Online Inc.'s subscriber growth in Europe is threatened by rivals offering free Internet access See how to access the Internet. there. And EBay Inc. said last week's Web site crash could cost it up to $5 million in sales. ``What we might be seeing here is a slowdown of the Internet market,'' said Youssef Squali, a Ladenburg Thalman & Co. analyst. Media Metrix reported that the number of people using the Web dropped less than 1 percent in April, said a spokeswoman. That drop was because there were more holidays during April and one less workday than March, she said. AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. fell $9.375 to $90.125, or 9 percent, making it the second most-active stock in U.S. trading. EBay fell $29.875 to $136. Amazon.com, the top online seller of books, music and videos, fell $13.8125 to $92. Other Internet stocks also fell including Yahoo! Inc., which dropped $16 to $119.25, and CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) Inc., which fell $14.3125 to $75.4375. Schwab led the online brokers' fall, tumbling $10.3125 to $83.9375 while ETrade Group fell $5.75 to $32. Ameritrade Holdings Corp. fell $12.6875 to $66.0625. DLJDirect fell $3.0625 to $24.4375. Internet stocks also fell on concern that higher interest rates would make alternative investments more attractive and revenue might be weaker-than-expected this quarter. |
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