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CNNfn market movers
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March 22, 1999: 2:36 p.m. ET
Broadcast.com, DoubleClick lead Internet rally; profit worries hurt Iona
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NEW YORK (CNNfn) - The Internet returned to Wall Street in full force Monday, while the negative force of investment analysts was especially punishing for technology companies.
America Online (AOL) was one of the session's most actively traded stocks, surging 9-1/16 to 128-5/16 after positive words from ING Baring analyst Fred Moran. Moran said AOL would enjoy a record-setting first quarter, forecasting 20 million subscribers for the Internet service provider by June.
Rival Web portal Yahoo! (YHOO) inched up 1-3/16 to 171-3/16 on reports that it might be looking to buy streaming media provider Broadcast.com (BCST). Broadcast.com shares leapt 30-1/4 to 115-1/4.
Internet advertiser DoubleClick (DCLK) played into cable provider Comcast's (CMCSK) $60 billion merger buzz by announcing a strategic partnership with broadband Internet provider Comcast Online. DoubleClick shares climbed 17-5/8 to 197-3/8.
Gilead sinks on downgrades
Biotech researcher Gilead Sciences (GILD) fell 7-3/4 to 49 in response to discouraging words from two influential Wall Street firms. Merrill Lynch said the stock is now overvalued, knocking its rating down to "intermediate-term neutral" from "accumulate." PaineWebber lowered its "attractive" rating to "neutral."
CHS Electronics (HS) tumbled 2-1/8 to 3-7/8 after restating fourth-quarter profits that came in sharply lower than Wall Street had expected. In response, CS First Boston downgraded the computer distributor's stock to "hold" from "buy."
CS First Boston also knocked shares of enterprise and Internet software firm Documentum (DCTM) down 2-1/8 to 17-1/8 by down rating that company to "hold" from "buy."
Fear of unsatisfying future results sent Iona Technologies (IONA) shares falling 4-1/4 to 33. Analysts cited concerns over the software firm's current quarter amid a number of warnings from elsewhere in the industry.
Disk drive manufacturer Newport (NEWP) fell 3-1/4 to 12-1/4 and fragrance maker Bush Boake Allen (BOA) slipped 2-1/4 to 27-1/8, both on warnings of disappointing earnings ahead.
On the upside
Weight loss specialist Jenny Craig (JC) added 1-7/8 to 5-5/16 after betting on Internet appeal with its new line of nutritional supplements, which will be sold exclusively on the company's redesigned Web site.
EFI Electronics (EFIC), a maker of plug-in surge protectors, saw its stock soar 1/2 to 1-7/8 after the company said it was exploring partnerships and merger opportunities.
Engineering and consulting firm Stone & Webster Inc. (SW) climbed 4-1/2 to 24-1/4 after Barron's reported that the Boston-based company's stock may be undervalued by at least 50 percent.
America West Holdings Corp. (AWA), the No. 9 airline in the United States, stood apart from a generally bearish day for the air industry, floating up 13/16 to 18-7/16. The company announced a tentative five-year agreement with its flight attendants, averting a strike that threatened to disrupt the spring-break travel season. 
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