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CNNfn tech stock report
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November 18, 1998: 4:27 p.m. ET
Internet stocks soar again as; Microsoft falls on Java ruling
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NEW YORK (CNNfn) - In what has become a familiar refrain, Internet shares soared again in Wednesday trade as investors continued to respond to a positive outlook in electronic commerce during the upcoming holiday season.
Amazon.com Inc. (AMZN) soared 15-3/4, more than 10 percent, to close at a new 52-week high of 164-1/4. That comes on the heels of the online bookseller's 17-percent jump Tuesday after the company launched a gift shop on its Web site.
Online auctioneer eBay Inc. (EBAY) joined the e-commerce parade, jumping 19-3/8, or 15 percent, to a new high of 148, while rival OnSale Inc. (ONSL) rose 1-3/8 to 24-1/4.
Optimism over online sales boosted other Internet shares, as well. Netscape Communications Corp. (NSCP) surged 9-15/16 to 39-3/16; Yahoo Inc. (YHOO) shot up 13-1/4 to a 52-week high of 190; and America Online Inc. (AOL) leaped 7-9/16 to 82-15/16, also a new 52-week high.
Networking shares also climbed higher, lead by Cisco Systems Inc. (CSCO), which rose 4-1/8 to a new 52-week high of 72-7/8. The networking giant announced a deal to acquire privately held Clarity Wireless, which provides Cisco with fixed wireless technology to complement its "last mile" solutions, such as dial and cable.
Novell Corp. (NOVL) shares jumped 1-1/4 to 16-5/16, also a new 52-week high, after Cisco agreed to make some of its networking hardware compatible with Novell's directory technology. Novell's Directory Services technology manages access to computer networks.
Elsewhere in the sector, Lucent Technologies Inc. (LU) rose 3-1/4 to 88-7/8, while 3Com Corp. (COMS) jumped 3 to 38-1/2.
Among software companies, Microsoft Corp. (MSFT) fell 2-1/8 to 109-3/4 after a federal judge granted Sun Microsystems Inc. a temporary injunction to block shipments of Windows 98 and Internet Explorer that contain incompatible versions of Sun' s Java programming language. Sun (SUNW) shares slipped 1/8 to 66-9/16.
In the chip sector, bellwether Intel Corp. (INTC) rose 1-3/8 to 109-7/8; Texas Instruments Inc. (TXN) jumped 2-3/8 to 72-1/16; while Applied Materials Inc. (AMAT) lost 7/16 to 36-15/16, despite posting a smaller-than-expected fourth-quarter loss. 
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