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Janus Takes a Walk on the Wild Side

Yesterday, we found out that the seventh largest mutual fund complex, Janus Capital, has caught Internet religion. In filings with the SEC, Janus disclosed that it made purchases of $3.2 billion in Net stocks during the first seven months of 1999.

What are the favorites? They are the dominant market leaders, such as eBay (EBAY), Amazon.com (AMZN), Yahoo! (YHOO), and Excite@Home (ATHM).

Last year, the fund had but one Net stock: American Online (AOL).

In the SEC filings, Janus Chairman Tom Bailey wrote a letter to shareholders, saying, "Without question, the Internet is changing the way companies do business, offering them new distribution channels, increasing their productivity and, in many cases, helping them gain a competitive edge."

Internet stocks definitely had the competitive edge in the past week. ISDEX climbed 2.42% despite a fall-off yesterday.

Here's a look at the numbers:

ISDEX .

 

19-Aug-99

% change

The Internet Stock Index

 

close

from

www.isdex.com

   

13-Aug-99

     

close

ISDEX

 

461.83

2.42%

NASDAQ

 

2621.68

-0.61%

DJIA

 

10961.62

-0.11%

       

Amazon.com

AMZN

106.13

8.92%

American Online

AOL

96.00

-0.90%

Ariba

ARBA

106.00

-16.21%

At Home

ATHM

37.25

0.68%

Axent Technologies

AXNT

13.56

1.38%

Broadcom Corp

BRCM

125.88

4.85%

Broadvision

BVSN

91.94

-1.67%

Beyond.com Corp

BYND

15.50

-8.15%

CDNow Inc.

CDNW

15.13

-0.79%

Checkpoint Software

CHKP

67.25

-3.24%

CMGI Inc

CMGI

78.75

-3.37%

Concentric Networks

CNCX

22.47

-3.35%

CNET Inc.

CNET

38.25

7.94%

Cisco

CSCO

62.25

-2.06%

Cybercash

CYCH

9.31

1.33%

Doubleclick

DCLK

82.94

0.69%

eBay

EBAY

113.75

16.07%

E*TRADE GROUP

EGRP

25.44

-2.62%

Earthlink Networks

ELNK

44.56

-7.41%

Exodus Communications

EXDS

72.81

8.27%

Go2Net Inc.

GNET

63.28

-2.65%

Healtheon

HLTH

34.00

-1.81%

Inktomi Corp

INKT

109.19

-0.74%

Infospace.com

INSP

43.56

4.34%

ISS Group

ISSX

24.69

-4.58%

iVilliage Group

IVIL

40.88

4.49%

Juniper

JNPR

207.00

-3.16%

Lycos Inc.

LCOS

41.69

9.89%

Mindspring

MSPG

29.94

4.82%

Network Associates

NETA

16.44

-0.74%

Network Solutions

NSOL

60.88

10.19%

Open Market Inc.

OMKT

12.38

1.06%

Onsale Inc.

ONSL

17.63

25.37%

Priceline.com

PCLN

66.50

0.00%

Prodigy Comm Inc.

PRGY

18.00

4.35%

PSINet

PSIX

46.22

7.49%

Preview Travel

PTVL

16.94

-8.43%

RealNetworks

RNWK

78.56

4.40%

Secure Dynamics

SDTI

19.88

4.29%

Infoseek Corp.

SEEK

32.00

3.23%

Security First

SONE

34.88

19.25%

Sportsline USA

SPLN

20.56

2.80%

StarMedia

STRM

46.25

13.85%

24/7 Media Inc.

TFSM

30.94

3.56%

TicketMaster-City Search

TMCS

28.81

-3.36%

USWeb Corp

USWB

20.25

10.58%

Verio Inc.

VRIO

68.38

1.87%

Verisign Inc.

VRSN

88.25

6.33%

Xoom.com Inc.

XMCM

46.50

21.57%

Yahoo Inc.

YHOO

139.19

4.80%

  • 99.08.17 It's starting to happen that is, Internet companies making money. Lycos (LCOS) reported earnings of one cent per share for the fourth quarter; Wall Street expected break-even. In all, the company had $605,000 in operating profits, compared to a loss of $703,000 a year ago. Further, revenues soared from $45.1 million from $19 million last year. Revenues should continue to grow strongly, as Lycos signed a $135 million e-commerce deal with WingspanBank.com.

  • 99.08.17 Excite@Home (ATHM) and Cox (COX) announced a deal to invest $85 million in Tickets.com. The move is an attempt to capture the fast-growing market for ticketing away from Ticketmaster Online CitySearch (TMCS). In the deal, Tickets.com agreed to pay Excite@Home $25 million for integrating ticketing on the Excite@Home portal site. The deal should help boost the chances for the upcoming Tickets.com IPO. Currently, Ticketmaster Online CitySearch is integrating with Lycos.

  • 99.08.19 Stocks of Onsale (ONSL) and Egghead.com (EGGS), which recently announced a merger, have been languishing, that is, until yesterday. Onsale announced it expects strong growth for the rest of the year. The company sees sequential-quarter revenue growth of 8%-12% for Q3 and 15%-20% forQ4. Again, this is further evidence the Net will have a Merry Christmas. Unfortunately, for Onsale, margins are expected to be 5% or so, compared to 9% a year ago.

  • 99.08.17 What's good for Microsoft (MSFT) is also good for StarMedia (STRM). This week, Microsoft announced that it is purchasing 27 percent of the No. 1 cable company in Brazil, Globo Cabo. This should help accelerate the Net in Latin America, which means more demand for portals. So far, StarMedia is the first-mover portal in the region. Also, StarMedia announced an exclusive deal with LatinGrocer, the leading online vendor of Hispanic foods.


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