Netscape Rises on Optimism About New Hire

Netscape Communications Corp. shares rose 24% on optimism that new Chief Operating Officer Barry Ariko, who joined the Internet software maker yesterday from Oracle Corp., will boost sales and partnerships. Netscape climbed $6.13 to close at $31.19 on Nasdaq. It was the biggest percentage increase since July 1, when Netscape gained from speculation that it could be in line for an investment from a media company. Investors are betting that Ariko will rev up sales at the once-highflying Internet company as it aims to sell more software to businesses. Ariko brings his contacts at large U.S. companies, a market Netscape wants to build after Microsoft Corp. crimped its browser sales. Until July, Ariko was in charge of Oracle’s sales for the U.S., Canada and Latin America.