RealTime IT News

ISDEX Hot List: Net @Venturer CMG Tops Week's Gainers

The hottest comments coming from President Clinton the other day had nothing to do with Zippergate and everything to do with his support of not taxing commerce on the Internet.

Despite a slew of state governors looking to slice and dice Internet commerce for themselves via another state-backed grab for taxpayer dollars, Clinton said that taxing this emerging commerce medium may do more harm than good.

Wall Street applauded the remarks, sending shares in most Internet stocks--commerce ones in particular--to new highs including Yahoo!, Amazon, and AOL. CMG, which invests in more than a dozen Internet firms including Lycos and GeoCities, rode high on a favorable piece in The Wall Street Journal.

Profit taking followed as ISDEX, Internet Stock Index, hit its all-time high and backed off slightly the week of February 24 through March 3, ending with a 3% gain. ISDEX is up 35% year-to-date but basically ended 1997 flat so there was pent-up room for it to run.

With one of the world's largest Internet trade shows next week, Mecklermedia's Spring Internet World in Los Angeles, expected to draw more than 50,000 people to see the latest, greatest Net stuff, we expect more investor awareness of the fast-growing and changing Internet industry. Always something new, so watch for announcements and we'll give you our head's up from the event.

The tally of hot and not Internet stocks:

ISDEX Feb 24 - Mar 3

ISDEX ® Ticker 03-Mar-98 % change Point change % change
Internet Stock Index symbol close from from from
      24-Feb-98 24-Feb-98 31-Dec-97
           
ISDEX Geometric Average   134.36 3.3% 4.24 34.5%
ISDEX Price Wtd. Composite   1,036.16 8.8% 84.08 29.0%
NASDAQ   1,757.14 3.2% 53.71 11.9%
DJIA   8,584.83 2.2% 186.33 8.6%
           
CMG Info CMGI $ 54.13 30% $12.50 79%
Excite XCIT $ 47.75 21% $8.13 59%
Yahoo! YHOO $ 72.94 19% $11.41 5%
Lycos LCOS $ 40.50 15% $5.22 -2%
Sportsline USA SPLN $ 26.00 14% $3.25 142%
Open Market OMKT $ 18.13 14% $2.25 88%
Mindspring MSPG $ 54.50 14% $6.50 62%
Infoseek SEEK $ 16.63 13% $1.88 55%
Amazon.Com AMZN $ 71.75 11% $6.88 19%
Onsale ONSL $ 26.75 7% $1.69 49%
VocalTec VOCLF $ 22.25 6% $1.25 9%
N2K NTKI $ 25.38 6% $1.38 74%
RealNetworks RNWK $ 15.75 5% $0.81 14%
Forefront FFGI $ 10.38 4% $0.44 33%
Security First Net Bank SFNB $ 11.00 4% $0.44 52%
CKS Group CKSG $ 18.44 2% $0.44 31%
E*TRADE EGRP $ 26.19 2% $0.50 14%
Concentric CNCX $ 14.13 2% $0.25 59%
Open Text OTEXF $ 16.63 2% $0.25 24%
CyberCash CYCH $ 12.50 1% $0.13 -1%
PSINet PSIX $ 7.63 1% $0.06 49%
Network Solutions NSOL $ 19.88 0% $0.00 51%
Spyglass SPYG $ 8.41 0% $0.00 70%
Trusted Information Systems TISX $ 20.13 0% $0.00 101%
USWeb USWB $ 18.00 0% $0.00 92%
Security Dynamics SDTI $ 33.63 -1% -$0.19 -6%
America Online AOL $ 117.13 -2% -$1.94 29%
Earthlink Network ELNK $ 50.50 -2% -$1.00 96%
Netscape NSCP $ 19.56 -2% -$0.44 -20%
Versant Object Technologies VSNT $ 7.63 -4% -$0.31 -45%
CheckPoint Software CHKPF $ 39.88 -4% -$1.88 -2%
Mecklermedia MECK $ 26.63 -6% -$1.75 7%
@Home Network ATHM $ 32.50 -10% -$3.81 29%
CNET CNWK $ 33.00 -13% -$4.88 12%
TOTAL   1,036.16 5% 49.44 29%
SIMPLE AVERAGE   30.48 5% 1.45 29.0%

  • Mar 3: Open Market (NASDAQ:OMKT) receives three patents from the U.S. Patent and Trademark Office that covers fundamental technology for conducting business over the Internet. Open Market, which makes commerce server software, was one of the first to focus on this area in 1993, long before "Internet commerce" was even being discussed on a widespread basis.

  • Feb 27: CMG Info (NASDAQ:CMGI) gets a favorable mention in The Wall Street Journal sending its shares up nearly 11% to $47.875 per share. More than 18 months ago we said CMG represented a way for investors to play a basket of Internet investments in one go since CMG owns pieces of Lycos (NASDAQ:LCOS) and more than a dozen private Web startups including GeoCities.

  • Feb 26: Egghead.com (NASDAQ:EGGS) signs up to sell software via Yahoo! (NASDAQ:YHOO) as the formerly earth-based software retailer looks for footing in the freefloating ether-space called the Web. Terms undisclosed, although we estimate the deal at $10 million based on comparables.

  • Feb 25: AOL (NYSE:AOL) reports that its European membership is at 1 million members. The joint venture with one of the world's largest media companies, Bertelsmann AG, began in Germany in November 1995. Total non-U.S. members are at 1.2 million, according to AOL. Globally, AOL reports 11 million members and 2 million for its CompuServe service.

  • Feb 25: Sportsline USA (NASDAQ:SPLN) CBS.Sportsline.com Web site ranked third in Relevant Knowledge's survey of unique visitors of Olympic coverage Web sites. First was ESPN.Sportszone.com with 1.9 million users, and second was the official Nagano site, nagano.olympic.org run by IBM. Sportsline user count was 1.3 million according to the survey, the leader in percent gains with 245% jump from pre-Olympic users.