Tech stocks rallied from early morning losses and charged ahead by market close on Tuesday.
The Nasdaq closed up 83.15 to 3,851, a 2 percent increase, while the Dow Jones Industrial Average rested at 10,622, up 58 points.
News of Agency.com Ltd. joining the Russell 2000 Index sent Agency.com shares up 8 percent. Inclusion in the index, which gauges the performance of the 2,000 largest U.S. companies based on total market capitalization, "is the most recent confirmation of the talent of our people and the premier work that they do for our clients," said Chan Suh, Agency.com's chairman and chief executive. Agency.com, which specializes in interactive relationship management, had a market capitalization of $69 million at market close on Monday. Shares were up $1.63 to $21.25.
After word of the acquisition of Zanova Inc., Onvia.com was up 19 percent Monday but took a step back Tuesday with a 9 percent loss. Shares were down almost $1 to $9.09.
A report by a German financial magazine that German software giant SAP AG plans to take a $300 million stake in Commerce One sent the U.S. software maker's stock up more than 8 percent to $56.38, an increase of $4.31.
Other success stories of the day: Sapient Corp. was up $12.63 to $115.06, a gain of more than 12 percent; Blaze Software Inc. also saw some big gains, up 12 percent to $13.94, a rise of $1.50; Nuance was up $7.06 to $62.94, a 13 percent increase; and Merisel Inc. closed up 13 cents to $1.16, a gain of more than 12 percent.
On the downside, solution provider Organic Inc. fell a point to $11.31, a loss of more than 8 percent. And Sonus Networks faced a loss of almost 9 percent, dropping $9.88 to $103.
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