Yahoo (NASDAQ:YHOO) better-than-expected results reported after the market closed yesterday buoy the Internet stock group today but I think that could be an over-reaction. Just as in the NFL there are Superbowl teams and then the rest, I see in the Internet space, Yahoo as a global stadium pleaser. A magnet of page views and users.
Said another way, I believe that the leaders on the Web may post positive surprises but that doesn't mean the entire group gets to ride the wave. The current ISDEX value is 569.13 with a change of+7.55(+1.34%).
CBS (NYSE:CBS) acquires a 35% stake in Web health info firm Medscape, another bid by the broadcaster to co-brand Web media properties, and swap air time for equity. CBS already has deals and stakes in CBS.MarketWatch.com and CBS.Sportsline.com. The one thing CBS doesn't have that NBC and ABC have is Web reach. CBS + Lycos? I think it could be one of the few fits left.
E*TRADE (NASDAQ:EGRP) steps up as a dealer in shares of new IPO Ariba (NASDAQ:ARBA). Through its Securities unit. More and more pieces of the full-service banking puzzle coming together with E*TRADE.
PlanetRX.com files for an IPO with plans to raise $69 million. Another entrant in the race for Web-based prescriptions, herbal remedies, medical supplies and related products. No shares offered given in the filing but I estimate it could be seeking a $350 million valuation on IPO. More in-depth analysis of this and rival Drugstore.com soon.
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