Business Services Industry

Local tech firms rebound as Wall Street stocks up; Share prices fund growth despite some iffy results; bubble's revenge?(News)

Crain's New York Business, September, 2003

Byline: anita jain Since the year began, DoubleClick Inc. has raised $135 million, launched a new division, expanded into Japan, hired 50 people and initiated searches for another 40. Even better, those gains came against the backdrop of a stunning 121% jump in the value of the online advertising company's shares.

"Business looks good, and we can see it's going to get better,'' says Kevin Ryan, chief executive of the Manhattan-based firm. The tech industry is even back in favor with fickle Wall Street, which has pushed up the tech-heavy Nasdaq index 43% this year to far outstrip the broader market averages. Locally, at least half a dozen technology-related firms have seen their share prices more than double this year, including ImClone Systems, Monster...

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