Stock Watch: PurchasePro Gains on AOL B2B Alliance (Nasdaq: PPRO) was up 6 1/8 to 157 7/8 after the company said it signed a “multimillion-dollar” agreement with America Online (NYSE: AOL) to collaborate on e-commerce technology.

The companies plan to develop an exchange for AOL, CompuServe and Netscape Netcenter business users. The exchange, which will debut by the end of the second quarter, will allow businesses to source, bid, negotiate, buy and sell their products and services. PurchasePro will also distribute a co-branded version of AOL Instant Messenger on its Web site, so buyers and sellers can communicate in real time.

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