Internet

How high can Net stocks fly?

Wall Street opens 1999 with a bang, setting new highs driven by gravity-defying Internet stocks.

Wall Street opens 1999 with a bang, as the Dow and Nasdaq repeatedly set new highs, driven by gravity-defying Internet stocks. Among some of the weeks winners were Internet bellwethers Amazon.com, Yahoo, Excite, Lycos, and Broadcast.com. The stocks continue to mystify analysts, who wonder if what goes up must come down.

Analysts send mixed signals on Net stocks
update Some experts predict a decline in Net stocks, even going so far as to recommend short-selling, while others speculate that Net blue chips have nowhere to go but up.

Records all around on Wall Street
update The Dow and the Nasdaq, along with a handful of Internet stocks, hit new highs.

Broadcast.com trading resumes
update The Nasdaq halts trading in the Internet broadcasting company after its stock surged as much as 74 percent, but resumes it after determining the rise was legitimate.

Amazon stock continues to soar
The book, video, music e-tailer surpasses $30 billion in market value after its stock surges on continued investor enthusiasm for anything Internet-related.

AT&T sees higher earnings, plans stock split
The telecom giant says it expects earnings from 1999 operations to be higher than expected, and announces a stock split and a move to repurchase company shares.

Upcoming earnings boost Net stocks
Fresh on the heels of a robust Christmas season that took several Net stocks to new highs, the sector is enjoying a new surge of momentum as investors await earnings reports.