SALES OPTIMISM BOOSTS INTERNET STOCKS.Byline: Greg Chang Bloomberg News Amazon.com Inc., Yahoo! Inc., eBay Inc. and other online-related companies rose on prospects for booming Internet sales. Amazon.com rose $13.50, or 11 percent, to $138. Yahoo! rose $33.125, or 13 percent, to $291. EBay rose $59, or 26 percent, to $283. CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) Inc., which invests in closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people. In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. Internet companies with the goal of taking them public or selling them to other companies, rose $30.28125, or 25 percent, to $151. The surge in Internet shares, which continues to befuddle be·fud·dle tr.v. be·fud·dled, be·fud·dling, be·fud·dles 1. To confuse; perplex. See Synonyms at confuse. 2. To stupefy with or as if with alcoholic drink. Verb 1. Wall Street analysts, comes after Amazon.com said Tuesday that fourth-quarter sales almost quadrupled to $250 million, though it also said higher sales won't translate into a narrower loss. ``This enthusiasm is incredible. It really is amazing a·maze v. a·mazed, a·maz·ing, a·maz·es v.tr. 1. To affect with great wonder; astonish. See Synonyms at surprise. 2. Obsolete To bewilder; perplex. v.intr. ,'' said Lauren Cooks Levitan, an analyst with BancBoston Robertson Stephens, who rates Amazon.com ``buy.'' Amazon.com has spent millions to expand its product line and lure customers to its Web site. The company, which has soared more than 14-fold in the last year, also split its stock 3-for-1 on Tuesday. ``Amazon is the flagship brand in the e-tailing space,'' Levitan said. ``$250 million in revenue certainly legitimizes this distribution channel.'' Among other Internet-related companies that rose, No. 1 online service America Online See AOL. Inc. climbed $2.0625 to $149. No. 2 Internet directory Excite Inc. rose $8.9375 to $51. Internet software company Inktomi Corp. rose $19.75 to $158.875. ``I really thought that come January we might see a bit of price erosion here,'' said Dalton Dalton, city (1990 pop. 21,761), seat of Whitfield co., extreme NW Ga., in the Appalachian valley; inc. 1847. It is a highly industrialized city in a farm area. Chandler, an analyst with Needham & Co. ``So far we haven't seen that.'' |
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