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RealTime IT News

Average Down 7%: ISDEX Drops While Broad Market Goes Sideways

Investors who spent the past summer guzzling performance-enhancing stock hype, hitting balls out of the park as easily as Mark McGuire, are now fans of the new Wall Street pastime: checking the field for gophers a la Caddyshack. The Dow moved sideways the past week, and NASDAQ got to first base with a 1% rise while ISDEX, The Internet Stock Index, waited on deck to take a swing at the plate once again, given the chance.

Just 15 of the 50 stocks in the leading index for Internet stocks posted gains September 8-15, while the others sat in the stands or moved to the cheap seats with a pair of binoculars. Check out the latest ISDEX ups and downs, sorted by advancers:

ISDEX (

15-Sep-98

% change

Point change

The Internet Stock Index

close

from

from

www.isdex.com

08-Sep-98

08-Sep-98

ISDEX Geometric Average

94.34

-6.8%

-6.90

ISDEX Price Wtd. Composite

1,249.13

-6.9%

-91.89

NASDAQ

1,678.15

1.0%

17.29

DJIA

8,024.39

0.0%

3.61

24/7 Media*

TFSM

$12.38

16%

$1.75

Network Associates

NETA

$40.00

16%

$5.56

Axent

AXNT

$19.25

12%

$2.06

IDT Corp

IDTC

$18.63

8%

$1.38

Broadcom*

BRCM

$72.88

6%

$4.38

USWeb

USWB

$11.25

6%

$0.63

Onsale

ONSL

$19.25

4%

$0.75

CKS Group

CKSG

$14.50

4%

$0.50

Mecklermedia

MECK

$22.00

3%

$0.69

Security First Net Bank

SFNB

$12.88

3%

$0.38

CyberCash

CYCH

$8.75

3%

$0.25

America Online

AOL

$97.50

2%

$2.25

@Home Network

ATHM

$34.44

2%

$0.75

ISS Group*

ISSX

$29.00

2%

$0.63

E*TRADE

EGRP

$19.13

1%

$0.13

VocalTec

VOCLF

$8.81

0%

$0.00

Yahoo!

YHOO

$84.38

0%

-$0.25

Concentric

CNCX

$17.66

-1%

-$0.09

RealNetworks

RNWK

$19.63

-1%

-$0.25

N2K

NTKI

$8.50

-3%

-$0.25

CheckPoint Software

CHKPF

$19.31

-3%

-$0.69

WavePhore*

WAVO

$5.75

-4%

-$0.25

PSINet

PSIX

$13.69

-4%

-$0.63

GeoCities*

GCTY

$21.63

-5%

-$1.13

Spyglass

SPYG

$11.88

-5%

-$0.63

Mindspring

MSPG

$33.00

-6%

-$2.13

CDnow

CDNW

$9.25

-6%

-$0.63

Network Solutions

NSOL

$29.63

-7%

-$2.19

Open Text

OTEXF

$12.50

-7%

-$0.94

Netscape

NSCP

$21.25

-8%

-$1.75

Secure Computing

SCUR

$8.13

-8%

-$0.75

Infoseek

SEEK

$19.13

-9%

-$1.88

Earthlink Network

ELNK

$32.63

-9%

-$3.38

Verisign

VRSN

$25.50

-10%

-$2.75

Open Market

OMKT

$10.31

-10%

-$1.13

Security Dynamics

SDTI

$11.03

-10%

-$1.22

Inktomi*

INKT

$59.13

-12%

-$8.38

Egghead.com

EGGS

$6.50

-13%

-$1.00

Excite

XCIT

$26.00

-13%

-$4.00

Verio*

VRIO

$19.94

-14%

-$3.31

Lycos

LCOS

$23.56

-15%

-$4.13

Broadvision

BVSN

$18.50

-16%

-$3.63

Broadcast.com*

BCST

$34.75

-17%

-$7.20

CMG Info

CMGI

$40.00

-19%

-$9.63

CNET

CNWK

$35.50

-20%

-$8.75

Amazon.Com

AMZN

$72.94

-21%

-$19.31

Doubleclick

DCLK

$19.75

-23%

-$5.88

Sportsline USA

SPLN

$14.06

-26%

-$5.06

Exodus*

EXDS

$18.00

-30%

-$7.75

Cylink

CYLK

$5.13

-37%

-$3.06

* change from IPO 1998

TOTAL

1,226.00

-6%

-81.08

SIMPLE AVERAGE

25.54

-6%

-1.69

Up from the minors is 24/7 Media (NASDAQ:TFSM), which had its IPO August 14 at $14, flirted with $22.75 per share since and dropped as low as $6.50 in its nascent life. That's volatile and beyond debating the ad network firm's fundamental outlook. A trading range as wide as that is pure emotion. Or pathos. TFSM closed September 15 at $12.375, up 16% thanks to deals with Netscape and coverage by JP Morgan and Merrill Lynch.

Network Associates (NASDAQ:NETA) joined the 16% club on news that its rival Symantec dropped some code that a Network Associate acquisition claimed to have created. Also fueling NETA was PC Week Labs naming its Sniffer Pro best of the protocol analyzers, its 32nd award.

Among other notable news and moves:

  • 98.09.15 - CKS Group (NASDAQ:CKSG) starts to find believers, closing the gap between its trading range and the pending offer of $21.21 per share stock swap from USWeb (NASDAQ:USWB). The overall deal value was set at $350 million when it was announced two weeks ago, with both stocks trading south since then and recovering ground in the past few sessions.

  • 98.09.14 - Yahoo (NASDAQ:YHOO) and Softbank invest $25 million in e-loan, a privately-held service that lets potential borrowers apply for loans via the Web. The deal signals an increased role by Yahoo as investor in firms that use its platform.

  • 98.09.11 - The Internet taking center stage for delivery of the Starr Report concerning Clinton and Lewinsky had a positive effect on Internet stocks in general. The news itself isn't important, rather the fact that the Internet proved itself as a global deliverer of instant information.

  • 98.09.10 - Infoseek (NASDAQ:SEEK) pays $26 million over the next two years to be Microsoft's WebTV exclusive search and navigation provider. Terms: $15 million in advance for first 5 quarters and remainder afterwards. Infoseek gets all ad revenue to a undisclosed amount and splits above that. WebTV delivers 40 million page views per day, 80% of its users have never or rarely go online via PC.

  • 98.09.09 - GeoCities (NASDAQ:GCTY) signs Microsoft's HomeAdvisor as exclusive sponsor/featured home buying service for its new real estate site. Microsoft buys some real estate of its own, the way we see it.


    Internet Investment Symposium '98 @ Fall Internet World!

    "The power conference to network with industry influencers and decision makers" - Yahoo co-founder Jerry Yang
    Click the above link now and get this year's power lineup.



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