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ONLINE AGENCIES SEE BOUNCE AS MARKET HOLDS GAINS

Published on .

(April 19, 2001) -- The stock markets held on to gains from Wednesday's bull session, thanks to encouraging reports in the tech and auto sector.

The Dow Jones Industrial Average rose a slight 0.73% to close at 10,693.50, up only 77.70 points. But the tech-heavy Nasdaq rallied again, rising 4.93% to close at 2181.97, up 102.53 points, thanks to upbeat reports from Apple Computer and IBM; both reported earnings gains beating analysts' expectations.

The tech reports recharged hopes for battered online agencies, which could benefit from a bottoming-out of the tech amd Internet woes. Razorfish moved up 34.62%, Agency.com rose 20.41%, and Organic and Modem Media both climbed 15.38%. Razorfish stock closed up 18 cents at 70 cents; Agency.com rose 30 cents to close at $1.77; Organic closed up 6 cents at 45 cents; and Modem Media closed up 40 cents at $3. -- Mercedes Cardona

Copyright April 2001, Crain Communications Inc.

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