Stock Watch: eToys Edges Higher on eParties Acquisition

eToys, Inc. (Nasdaq: ETYS) was up 1/16 at 6 5/8 early Monday after announcing plans to buy select assets of party planning Web site eParties from Internet incubator eCompanies for $1.6 million worth of common stock.

eToys plans to open a party store on its Web site later this year. The company said it is buying the eParties name and other assets, including party customization software. eParties Chief Executive David Haddad will join eToys as a senior vice president.

eToys is trying to expand its presence in the online toy sales market. The company is currently highlighting a "Summer Store" on its site, with swim toys and other seasonal items.