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Napster shares make noise early |
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Monday, 21 November 2005 |
Napster Inc. shares came to life Monday after the digital-music provider rolled out the beta version of its service with XM Satellite Radio, while the Internet sector was mixed as the major indexes struggled for firm ground.
The Dow Jones Internet Index (DJI_DJINET) was off 0.2% to 94.33, while the technology-heavy Nasdaq Composite Index ($COMPQ) was down 6 points to 2,221.34.
Napster (NAPS) shares rose more than 10% as the company and XM (XMSR) brought their previously announced service to market. The online service allows users to access, buy and download music heard on XM. Napster shares have been mired in a year-long slide since trading above $10 late last year.
EBay Inc. (EBAY) shares rose as much as 1.8% out of the gates. The Internet marketplace operator and VeriSign Inc. (VRSN) said they completed the $370 million sale of VeriSigns payment-gateway business to eBays PayPal.
VeriSign Inc. (VRSN) shares rose as much as 1%. The company also announced a new global brand campaign for the Jamster mobile-entertainment service.
Yahoo Inc. (YHOO) shares rose as much as 2.7%, continuing last weeks strong performance.
Shares of Loudeye Corp. (LOUD) were off as much as 1.9% after the company said it has named Chris Pollak its chief financial officer. Pollak replaces Ron Stevens, who left the company for a venture funded start-up.
In China, shares of Shanda Interactive Entertainment Ltd. (SNDA) rose as much as 3% as the company is expected to launch its "EZ Pod" entertainment device this week. See full story.
Other active names in the Net sector includes shares of CNet Networks Inc. (CNET) and Overstock.com Inc. (OSTK).
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