Shares of online retailer Amazon.com plunged 25.25 points, or 13 percent, to 168.25 even after the company posted a narrower-than-expected first-quarter loss after the market closed yesterday. The company said it lost 23 cents a share for the quarter, according to Bloomberg News. The company was expected to post a first-quarter loss of 29 cents a share, according to analysts surveyed by First Call. In its year-ago period, Amazon.com lost 7 cents a share after accounting for two stock splits.
Online retailers uBid and eBay were mixed at the close. uBid, which edged up earlier today, fell 1.18 to 57.06. eBay traded stronger in the afternoon, rebounding 11.6 percent to close up 22.43 points at 215.
Other Net stocks also closed mixed after spending most of the trading day in the red. Net directory Yahoo traded stronger, up 1.5 at 175, while Excite, Infoseek, and Lycos traded weaker. Shares of Excite fell 3.25 to 143.62, Infoseek lost 1.93 to 51, and Lycos dropped 5.50 to 91.37.
After shedding nearly 13.5 points each at yesterday's close, online brokers E*Trade and Ameritrade traded much stronger in the afternoon. E*trade rose 9.81 to 116, and Ameritrade jumped 10.6 percent, gaining 13 to close at 135.
Shares of technology media company CMP Media climbed 4.56 points, or 13.4 percent, to 38.43. Earlier today the company said it will be bought by U.K.-based United News & Media in a cash deal worth $920 million.
In the computer sector, PC hardware stocks lost ground. IBM, which lost 7 points at yesterday's close, fell .18 to 204.81, and Dell, which was slightly up at midday, closed down .56 at 41.06. Apple fell 1.06 to 43, Gateway lost 2 to 66.62, Hewlett-Packard slipped .93 to 78.37, and Compaq dipped .87 to close at 22.81
Bloomberg contributed to this report.