NEW YORK (CNNfn) - Improved financial results sent shares of an Internet portal soaring Tuesday while a CEO's stock purchase announcement catapulted shares of an electronic commerce company.
In one of the session's highest flyers, shares of GoTo.com Inc. (GOTO) soared 39 percent after the Internet portal said its third-quarter net loss narrowed to 18 cents per share from 24 cents per share in the year-ago period.
Shares of Pasadena, Calif.-based GoTo.com gained 22-1/4 to 79-1/2.
Stock in PurchasePro.com Inc. (PPRO) climbed 27 percent after the business-to-business e-commerce company said its CEO, Charles Johnson, plans to buy $1 million in company stock.
Investors apparently tried to get to PurchasePro stock first, as shares of the Las Vegas-based company rose 10-7/8 to 51.
Stock in Gilead Sciences (GILD) fell 28 percent after the bio-tech firm said a Food & Drug Administration panel recommended the FDA not approve Gilead's drug for HIV treatment.
Further, Bank Boston Robertson Stephens and Donaldson Lufkin & Jenrette downgraded Gilead stock Tuesday.
Shares of Foster City Calif.-based Gilead fell 17-13/16 to 45-3/8.
Stock in Ostex International Inc. (OSTX) jumped 27 percent after the medical equipment maker said its third-quarter net loss narrowed to $221,000, or 2 cent per share, from a loss of $1.8 million, or 15 cents per share, in the year-ago period.
Stock of Seattle-based Ostex gained 13/32 to 1-29/32.
Shares of Newbridge Networks (NN) fell 20 percent after the computer networks provider warned that results for the fiscal second quarter will fall bellow expectations.
Further, the company's president and chief operating officer, Alan Lutz, resigned.
Stock in Kanata, Ontario-based Newbridge lost 4-1/16 to 16-11/16.
Shares of Maxwell Technologies Inc (MXWL), a maker of diverse technology for the space, computer and medical equipment industries, plunged 27 percent after the company said results for its fiscal first quarter will fall short of estimates.
Stock in San Diego based Maxwell lost 2-13/16 to 7-5/8.
Claire's Stores Inc. (CLE) stock rose 13 after the teen fashion retailer said it will buy Venator Group's (Z) Afterthoughts, a 768-store fashion accessory chain.
Shares of Pembroke Pines, Fla.-based Claire's Stores gained 2-1/4 to 19-1/4.