Positive Ariba results bolster B2B stocks

NEWS Shares in business-to-business (B2B) companies surged on Nasdaq this week after e-marketplace vendor Ariba announced strong third quarter (Q3) results. Company revenue for the quarter hit $80.7m - up 578 per cent from the same period a year ago and well ahead of the $50m revenue forecast by analysts. The company reported a net loss for the quarter, exclusive of non-operating charges, of $11.3m, compared with a net loss of $6m in the same period last year. After posting the results on Wednesday, Ariba's stock jumped 22 per cent. Other B2B stocks also leapt, with Commerce One's stock jumping 27 per cent and Purchasepro.com rising 20 per cent.