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CNNfn tech stock report
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January 12, 1999: 4:13 p.m. ET
Internet shares give back gains; investors await Yahoo, Intel earnings
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NEW YORK (CNNfn) - Technology stocks finished lower across the board Tuesday amid profit taking from the high-flying Internet sector as investors cautiously awaited earnings news from technology bellwether Intel Corp.
Caught in the downward spiral of Internet stocks was Web portal leader Yahoo! Inc. (YHOO), which tumbled 18-13/16 to 395-11/16. Investors were waiting for Yahoo! to report fourth-quarter earnings results. Analysts expect the company to report a profit of 16 cents a share, according to First Call.
Internet address registrar Network Solutions Inc. (NSOL) dropped 34-1/16 to 189, despite reporting that new Internet registrations nearly doubled in 1998.
Elsewhere, MindSpring Enterprises Inc. (MSPG) lost 19-5/8 to 96-1/8; eBay Inc. (EBAY) shed 51 to 240-1/2; Broadcast.com Inc. (BCST) gave up 62-1/16 to 223; and Amazon.com Inc. (AMZN) fell 21-1/4 to 163-3/8.
On the plus side, however, E*Trade Group (EGRP) soared 12-7/16 to 100-15/16 after taking a 28-percent stake in an online investing firm, called E*Offerings, that will give online traders more access to initial public offerings.
Infoseek Corp. (SEEK) slipped 3-9/16 to 84-3/16 after Tuesday's launch of GO Network, an Internet portal created in a joint venture with Walt Disney Co. (DIS).
In the chip sector, Intel (INTC) dipped 4-3/16 to 135-9/16 as investors awaited the company's fourth-quarter earnings. Analysts expect the chip titan to report a profit of $1.07 a share, according to First Call.
Among computer shares, Compaq Computer Corp. (CPQ) finished unchanged at 48-3/8 after agreeing to buy online retailer Shopping.com (IBUY) for $220 million, a move that steps up the No. 1 computer maker's Internet and e-commerce efforts.
Finally, Microsoft Corp. (MSFT) fell 5-5/16 to 142-3/16 as the government rested its antitrust case against the software giant. 
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