RealTime IT News

Market Finds Some Recovery

The fear of a Fed rate increase subsides today as investors start to believe that the bark and bite are not the same thing if interest rates do go up. Internet stocks regain most of yesterday's loss, the current ISDEX value is 580.05 with a change of+7.12 (+1.24%).

  • Amazon.com (NASDAQ:AMZN) files a shelf registration for $2 billion in debt and securities that it may use to finance the firm "from time to time." If so, that's $3.5 billion Amazon will have to play with if you recall its $1.5 billion debt already sold. At that level you have to believe Amazon must be considering swinging for well beyond the fences, I think swinging for the parking lot may be more appropriate a description.

    It will be difficult for any retail Web company to compete with Amazon with such a war chest at its disposal. Separately, Drugstore.com (which Amazon owns 44% of) files to go public and raise as much as $67.5 million. The market may be starting to discount ahead some of that as AMZN shares gain 5% to $139 9/16.

  • Axent (NASDAQ:AXNT) shares rally 25% on its "best buy" award from SC magazine for its 'Defender' security software that protects corporate Webs.

  • eToys (NASDAQ:ETYS) IPO prices at the high end at $20 per share with 8.3 million shares for sale through Goldman Sachs. This is one of the most anticipated offerings due to its market leadership vs. offline Toys 'R Us.
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