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Tech Industry

Midday Markets: Lycos bubbles as deal crumbles

A spate of Net stocks soared anew at midday on Monday as new mergers formed and others looked like they would crumble. The Nasdaq rose 23 to 2,526 and the @Net added 6 to 316. The Dow Jones industrial average gained 51 to 11,083.

Stocks edged into positive territory after Yugoslavia began a partial withdrawal of its troops from Kosovo. The Standard & Poor's 500 and the Russell 2000 .

CNet Inc. (Nasdaq: CNET) climbed 10 3/8 to 124 1/8 after the e-commerce company joined with Xoom.com Inc. (Nasdaq: XMCM) and General Electric Co.'s (NYSE: GE) NBC to form NBCi, a new online company that gloms properties from each company together. Xoom gained 5 7/8 to 81 and GE dipped 9/16 to 109 9/16.

Lycos Inc. (Nasdaq: LCOS) added 7 1/8 to 96 5/8 after a Wall Street Journal story said that USA Networks Inc. (Nasdaq: USAI) doesn't think it can get the shareholder votes to OK its merger. CMGi Inc. (Nasdaq: CMGI), its largest shareholder, rose 6 1/8 to 227 3/8. Amazon.com Inc. (Nasdaq: AMZN) dipped 5/16 to 136 1/16, America Online Inc. (NYSE: AOL) ascended 5 7/8 to 124 1/16 and Yahoo Inc. (Nasdaq: YHOO) added 5/8 to 148 1/16.

Cisco Systems Inc. (Nasdaq: CSCO) rose 2 3/8 to 110 7/8 ahead of its third quarter results that are due Tuesday after the bell. Ascend Communications Inc. (Nasdaq: ASND) gained 1 13/16 to 94 3/8 and Lucent Technologies Inc. (NYSE: LU) gained 5/8 to 58 3/8.

Marketing software and services company Exchange Applications Inc. (Nasdaq: EXAP) slipped 4 7/8 to 23 1/8 after it filed for a follow-on equity offering of 3 million shares.

E*Trade Group Inc. (Nasdaq: EGRP) gained 4 5/8 to 115.

Hitsgalore.com Inc. (Nasdaq: HITT) gained 2 5/8 to 18 1/8 after a trust company invested $100 million in the Internet search company.

Knight/Trimark Inc. (Nasdaq: NITE), a Nasdaq, OTC, and NYSE market maker, rose 5 5/16 to 150 9/16 after TheStreet.com Inc. (Nasdaq: TSCM) doubled its IPO price range. Marketwatch.com Inc. (Nasdaq: MKTW) was flat at 62 1/2.

Dell Computer Corp. (Nasdaq: DELL) added 1 5/16 to 42 1/2. International Business Machines Corp. (NYSE: IBM) rose 2 to 219 1/4 and Gateway Inc. (NYSE: GTW) climbed 2 7/16 to 66 5/8.

Intel Corp. (Nasdaq: INTC) added 3/16 to 61 1/8 and Advanced Micro Devices Inc. (NYSE: AMD) rose 15/16 to 18 9/16.

Among software makers, Microsoft Corp. (Nasdaq: MSFT) gained 5/8 to 79 11/16, Computer Associates International Inc. (NYSE: CA) added 3/4 to 43 1/4 and Oracle Corp. (Nasdaq: ORCL) slipped 1/4 to 24 1/4.