Ubid Inc

CMGI Inc. agreed to buy UBid Inc. for about $407 million in stock in what would be the Internet venture fund's first acquisition of an online auctioneer. CMGI said it plans to use UBid's online merchandising and inventory management resources to spur growth at its affiliates, including AltaVista and MyWay.com. "There's tremendous opportunity in applying these techniques to CMGI's existing e-commerce companies," Chief Executive David Wetherell said.

CMGI Inc. agreed to buy UBid Inc. for about $407 million in stock in what would be the Internet venture fund's first acquisition of an online auctioneer. CMGI said it plans to use UBid's online merchandising and inventory management resources to spur growth at its affiliates, including AltaVista and MyWay.com. "There's tremendous opportunity in applying these techniques to CMGI's existing e-commerce companies," Chief Executive David Wetherell said.

Shares of Creative Computers Inc. soared 66% after the company said it will proceed with a delayed initial public offering of its unit that auctions computers over the Internet. The Torrance-based company, which also sells computers through catalogs, postponed the sale in September after Internet-related stocks plunged. Creative Computers filed a preliminary prospectus to sell as much as $22 million in stock of its UBid Inc. subsidiary. Shares skyrocketed $11.88 to close at $29.75 on Nasdaq.

* Torrance-based Creative Computers Inc. filed for an initial public offering to spin off its Ubid Inc. subsidiary, which auctions computers, consumer electronics and other products over the Internet. Creative Computers, which sells computers through catalogs, will offer new investors 1.58 million shares of Ubid, keeping an 82% stake after the IPO.

Amazon.com Inc., America Online Inc. and six other Internet companies got a boost Wednesday after their stocks were recommended by Merrill Lynch & Co. analyst Henry Blodget, who said they're poised to benefit from stronger holiday e-commerce and advertising sales. Blodget shot to prominence late last year with his correct, bullish call on Amazon.com. But he has recommended 18 Net stocks this year, and only five have risen since being tabbed.

The accounting firm Deloitte & Touche said Thursday that it severed its relationship with 2TheMart.com, marking the latest of several setbacks for the company that plans to launch an Internet auction site. Shares of Irvine-based 2TheMart.com plummeted 21% on Thursday after the departure of the accounting firm was disclosed. The stock closed at $14, down $3.63 in heavy trading over-the-counter.

The accounting firm Deloitte & Touche LLP said Thursday it has severed its relationship with 2TheMart.com in the latest of several setbacks for the Internet auction company. Shares of Irvine-based 2TheMart plummeted 21% after Deloitte's departure was disclosed. The stock fell $3.63 to $14 in heavy trading over-the-counter.

san francisco -- Hoping to woo shoppers who say EBay Inc. has lost its folksy appeal, the world's largest online auction plans to launch its own version of a social networking service today and is promising other customer-friendly features by year's end. The new Neighborhoods feature encourages users to post photos, product reviews, tips and responses -- creating a far more visual and interactive experience than EBay's text-based discussion forums.

How weird is this whole Internet-stock thing getting? Consider: Zapata Corp. shares more than doubled Wednesday after the Houston-based fish oil and meat casings company said it's returning to the Internet business--just two months after it canceled its planned cyber-expansion as financial markets soured. Zapata, which said in October it was backing out of its planned purchase of or investment in about 30 Internet firms, saw its shares zoom $7.06 to $14.

All you had to do was mention the "I" word. Companies clamoring, "We're doing something related to the Internet too," saw their shares surge as much as 118% on Monday: * Houston-based Zapata Corp., a former oil company turned fish processor, said it plans to split into two publicly traded companies, allowing one to focus on the Internet by investing in or acquiring 21 Web sites. The news sent the stock soaring $11.63, or 118%, to $21.50 on the New York Stock Exchange.

Online shopping during the holiday season more than tripled over last year, according to estimates issued Monday, and Internet retailers reported that traffic has remained extremely heavy in the days after Christmas. Boston Consulting Group said online holiday shopping grew by 230% this year, with the size of the average order rising to $55, a gain of 6% over the same period in 1997. Few retailers have released hard figures on the season.