Positive comments from analysts sent shares of several e-commerce companies higher Friday, as second-quarter earnings reports began to trickle in. A U.S. government report showing that inflation remains under control boosted stock prices in general, with the Nasdaq Stock Market ending at 4,246.18, its highest close since April 7th.
E-commerce stocks have been under pressure in recent months amid concern about cash problems and the outlook for profits. Still, two industry bellwethers — Yahoo! Inc. (Nasdaq: YHOO) and Ariba, Inc. (Nasdaq: ARBA) reassured investors last week with stronger-than-expected results for the quarter ended June 30th.