Cheapened techs lured investors back into the sector at midday Wednesday. The Nasdaq rose 0.83 to 3,689.93 and the Dow Jones industrial average shed 66.31to 10,860.69.
The Inter@ctive Week @Net Index fell 8 to 507.39.
The Nasdaq rose for the first time in 5 days Wednesday as reduced prices and analyst talk encouraged buying.
VerticalNet (Nasdaq: VERT) burst out of the gates, up 2.38 to 32.63 after analysts talked up the downtrodden stock, and predicted the company will beat estimates in its upcoming third quarter. Ariba (Nasdaq: ARBA) fell 4.69 to 154.38 and Commerce One (Nasdaq: CMRC) rose 0.94 to 76.06.
Metromedia Fiber Networks Inc. (Nasdaq:MFNX) hopped up 1.75 to 23.75 after getting talked up by two analysts.
Shares of 3Com Corp. (Nasdaq: COMS), shot up 2.63 to 16.56 a day after the company surprised investors with a narrower-than-expected loss.
Corning Inc. (NYSE:GLW), down 9 to 316, said Wednesday it will buy Pirelli's optical components and devices business for about $3.6 billion. JDS Uniphase (Nasdaq: JDSU) fell 3.44 to 99.63.
AvantGo (Nasdaq: AVGO), priced above range for trading Wednesday, with 5.5 million shares tagged at $12 a piece. The provider of content for wireless devices had given a range of $9 to $11 a share.
M-Wave Inc. (Nasdaq: MWAV), up 5.44 to 22.44, which makes printed circuit boards for wireless communications, said third-quarter earnings should be up about 50 percent from the second quarter.
The world's leading wireless technology leader and largest Web access provider teamed up to put Internet messaging and e-mailing into the palms of mobile phone users worldwide. NTT DoCoMo, said it will take a 42.3 percent stake in America Online Inc's (NYSE: AOL) Japanese unit, AOL Japan, with an investment of $95.82 million in cash. AOL shares were down 1.46 to 54.69.
Amazon (Nasdaq: AMZN) fell 1.50 to 38.25 and Yahoo! (Nasdaq: YHOO) fell 6.94 to 95.50.
Among other leading tech issues: Cisco (Nasdaq: CSCO) rose 0.50 to 55.69, Intel (Nasdaq: INTC) rose 1.56 to 44.88, Microsoft (Nasdaq: MSFT) fell 1.75 to 60.94 and Oracle (Nasdaq: ORCL) shed 0.19 to 79.25.