Broad Market Rises Despite Fed
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ISDEX, NASDAQ and the Dow climb on the eve of the Fed's rate meeting Wednesday. ISDEX gains 3.29% to 522.27.
AltaVita never belonged at Compaq in my opinion. AltaVista garners a $2.77 billion valuation or what I estimate could be 18x revenue. With that in mind I think the deal is fairly valued given AltaVista's #10 Media Metrix ranking in users and its raw moldable asset.
CMGI will be able to deploy its portfolio on AltaVista, a plus. But it also means they're now competing with AOL, Yahoo, Lycos, Excite@Home, and NBCi, among others. That could make it more difficult for CMGI to do deals with these firms in its @Venture area. CMGI shares soar 13% to $110 5/16 on the deal news today.