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Tech Industry

Market Close: Internet stocks still stuck in tailspin

Internet stocks were bludgeoned Monday as the Nasdaq composite tumbled 50 points to close at 2,398.30. The Dow Jones industrial average picked up 73 points to 10,563.33.

Light trading and a lack of important news or earnings report conspired to tag technology stocks.

"They are starting to buy nearly everything except technology," said Trude Latimer, an independent stock broker in Charlottesville, Va.

eBay Inc. (Nasdaq: EBAY) had the roughest day of all, falling 31 3/8 to 134 after warning that numerous outages will shave $3 million to $5 million from the company's second quarter revenue. Yahoo! Inc. (YHOO) fell 16 to 119 1/2 while America Online Inc. (AOL) and Amazon.com Inc. (AMZN) shed 9 1/2 and 13 25/32 a share, respectively.

DoubleClick Inc. (DCLK) sawed off 18 1/16 to 70 3/4 after the company said it would acquire a consumer marketing firm for $1 billion. Lycos Inc. (LCOS) plunged 14 11/16 to 70 1/16 and Infoseek Corp. (SEEK) dropped 6 1/4 to 38 1/4.

Qwest Communications International Inc. (QWST) fell 10 3/4 to 34 1/8 after the company made an unsolicited bid for US West (USW) and Frontier Corp. (FRO), two companies that have agreed to merge with Global Crossing Ltd. (GBLX).

Frontier shares moved up 1 15/16 to 57 3/8 and US West added 3 1/8 to 58.

Oracle Corp. (ORCL) moved up 1 1/8 to 26 7/16 ahead of the company's fourth quarter earnings due out later this week. Microsoft Corp. (MSFT) fell 9/16 to 77 9/16 and Sun Microsystems Inc. (SUNW) lost 5/16 to end at 59 3/8.

Among widely held PC stocks, Dell Computer Corp. (DELL) fell 1 3/16 to 33 5/16; Compaq Computer Corp. (CPQ) shaved off 1/4 to 22 1/16; Gateway Inc. (GTW) dropped 1 3/16 to 60 1/16 and Apple Computer Inc. (AAPL) closed off 1 to 45 7/16.

Intel Corp. (INTC) trimmed 1/16 to 54 3/8 and Advanced Micro Devices Inc. (AMD) dipped 7.16 to 16 15/16. IBM Corp. (IBM) settled up 1 3/8 to 115 11/16.