While Internet stocks traded in a sideways fashion most of Tuesday, Internet brokers and banks wowed Wall Street with strong gains. One of the day's strongest gainers was Net. Just late last month, the stock was trading below 75. On Monday, the company signed an agreement with Net. Online brokers continued their upward march Tuesday.
Investors continue to bid up the sector as the earnings outlook for the sector remains bright.
The company Tuesday announced a deal with database maker Informix Corp. to integrate its CashRegister payment services with Informix's i. Sell secure online transaction software. PcOrder said search engine maker Inktomi Corp. will use its computer product data in its Internet shopping engine. The Internet phone maker warned its first-quarter losses will be more than double initial expectations. Underwriters are expected to receive the shares Friday and they will begin trading soon after.