The sun came out for several Internet stocks Monday, as a series of analysts' notes and company announcements warmed investors up to the beaten-down sector. Robertson Stephens analyst Lowell Singer wrote this morning that he believes the acquisition will bolster the company's offerings with a larger client base and proven technology. Nevertheless, the analyst cautioned that online ad spending may not rebound in 2001.
Some observers reserve skepticism for the sector.
People are still trying to figure out how to make money in Internet-based names. And I'm skeptical in general about any analysts' recommendations. The analyst now expects the online retailer to lose 21 cents in the quarter, narrower than his previous forecast of a loss of 23 cents. Fieler also maintained his attractive rating on the stock. Two Internet-related stocks recorded impressive gains on news they were being acquired.