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Stocks Weaker On Market Selloff

Steve Harmon
By Steve Harmon

The see-saw market sawed some value off today from the big boards to the web boards as ISDEX drops 5% to 499.02. A few notable risers occur in the security software sector, the lepers of Net stocks lately.

  • Network Associates (NASDAQ:NETA), the candidate for pasteurization by acquisition, continues to try to climb. Reminds me of the TV commercial “help, I’ve fallen and I can’t get up.” NETA shares rise $2 to $19 1/16 per share on news of a government contract for its intrusion-detection technology. So maybe it’s starting to get back up from the disappointing second-quarter results when it reported about 1/10th the revenue in the quarter vs. Q298. On the positive side, its products continue to receive acclaim.
  • Axent (NASDAQ:AXNT) Raptor firewall gets a blue ribbon award from Network World for its comprehensive features. AXNT shares climb to $15 3/16, up $1/2.
  • MP3.com (NASDAQ:MPPP), the day after. Some profit taking continues as MPPP drops 3.75% to $60 15/16 per share. Despite its nascent (or lack of) a clear business model, or anything resembling a proven one, I am giving MP3 a chance to leverage its traffic into revenue. The marketing and ad agreement with Group Arnault for $150 million is significant. I believe it gives MP3.com a chance to focus on growth more than anything at this point. Growth that could help it consolidate its market and mindshare advantage.
    • Steve Harmon
    Steve Harmon
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