Off The Mark - Industry Trend or Event - Brief Article
Mark A. MowreyThough some Internet companies reported strong second-quarter earnings, Net stocks were hit hard as several companies missed revenue growth targets. Reports from Lucent, Amazon.com and Priceline.com dragged down Net stocks, with TheStreet.com's Internet Sector index 2 percent below its prior lowest levels of the year. The index closed at 699, a 15.6 percent fall on the week. The Nasdaq composite also took a hit this week, dropping 10.5 percent to close Friday at 3663.
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