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RealTime IT News

Down 11% ISDEX Drops On Wall Street Blues

As a group the 50-stock strong ISDEX, The Internet Stock Index, lost 11% since September 30 as Wall Street plays its own version of the blues mixed with a little jazz high notes. Just 4 of the 50 ended on the positive side the past week, led by Broadvision (NASDAQ:BVSN), a stock which has been hammered almost in half of late.

BVSN rallied back on news the focused marketing software firm will join Motorola, VISA and others in "v-commerce," voice recogntion navigation for Web applications and speech-enabled telephone applications aimed at the 800-million phones on the planet.

Mecklermedia (NASDAQ:MECK), producer of this report, follows last week's leading ISP industry convention, ISPCon, with the opening this week of the world's largest Internet trade show and conference, Fall Internet World, in New York. Two back-to-back big events.

Web auctioneer Onsale (NASDAQ:ONSL), meanwhile, rode some of the verve from another, albeit different, auctioneer's IPO wave: ebay (NASDAQ:EBAY). The thinking goes like this: if EBAY is a $1 billion-plus market capitalization then ONSL can't be only a third of that. We think both may meet in the middle.

Here's how the market sorted them out September 30 - October 6:

ISDEX ® 06-Oct-98 % change Point change % change
The Internet Stock Index close from from from
www.isdex.com   30-Sep-98 30-Sep-98 31-Dec-97
        or from IPO*
ISDEX Geometric Average 94.52 -11.2% -11.91 -5.4%
ISDEX Price Wtd. Composite 1,352.31 -10.1% -152.00 51.4%
NASDAQ 1,510.83 -10.8% -183.01 -3.8%
DJIA 7,750.70 -1.2% -91.92 -2.0%
         
Broadvision $11.88 12% $1.31 83%
Mecklermedia $21.94 12% $2.31 -12%
Onsale $18.38 10% $1.69 2%
Broadcast.com* $42.50 5% $2.13 136%
PSINet $13.75 -1% -$0.19 168%
GeoCities* $22.88 -2% -$0.38 35%
Infoseek $24.13 -2% -$0.50 124%
Amazon.Com $108.31 -3% -$3.31 260%
Yahoo! $124.81 -4% -$4.69 260%
CDnow $8.63 -4% -$0.38 -46%
Inktomi* $72.06 -4% -$3.19 300%
CNET $43.69 -5% -$2.06 189%
Open Text $12.75 -5% -$0.69 -5%
Excite $38.69 -5% -$2.13 158%
CyberCash $8.94 -5% -$0.50 -30%
Verisign* $25.63 -6% -$1.63 83%
Sportsline USA $16.38 -6% -$1.06 52%
Broadcom* $65.50 -8% -$5.50 173%
@Home Network $43.75 -9% -$4.13 74%
Earthlink Network $37.25 -10% -$4.00 189%
Egghead.com $6.50 -10% -$0.75 0%
CMG Info $47.56 -11% -$5.69 214%
Lycos $30.13 -11% -$3.69 46%
Doubleclick $21.13 -12% -$2.75 24%
24/7 Media* $9.50 -12% -$1.25 -32%
Spyglass $11.25 -12% -$1.50 128%
Secure Computing $8.63 -12% -$1.19 -27%
VocalTec $7.25 -12% -$1.00 -65%
America Online $97.63 -13% -$14.00 116%
Security First Technologies $13.00 -13% -$1.88 79%
Netscape $19.06 -13% -$2.81 -22%
Network Solutions $36.25 -13% -$5.38 176%
Concentric $18.00 -14% -$3.00 103%
E*TRADE $15.81 -15% -$2.88 -31%
Cylink $3.75 -17% -$0.75 -62%
IDT Corp $18.75 -18% -$4.25 -7%
USWeb $10.56 -19% -$2.50 13%
Mindspring $33.50 -19% -$8.00 199%
Axent $15.00 -19% -$3.63 -13%
CKS Group $14.13 -20% -$3.56 0%
Verio* $19.75 -20% -$5.00 -14%
CheckPoint Software $15.81 -20% -$4.06 -61%
WavePhore $5.06 -21% -$1.31 -46%
Network Associates $28.00 -21% -$7.50 -47%
ISS Group* $24.00 -25% -$7.88 9%
Security Dynamics $8.63 -28% -$3.31 -76%
RealNetworks $24.38 -30% -$10.31 76%
Exodus* $17.00 -30% -$7.38 13%
N2K $4.50 -37% -$2.69 -69%
Open Market $6.00 -47% -$5.25 -38%
* change from IPO 1998        
TOTAL 1,352.31 -10% -152.00 51%
SIMPLE AVERAGE 27.05 -10% -3.04 51%

Moves and news:

  • 98.10.06 - Lycos (NASDAQ:LCOS) agrees to acquire Wired Digital, better known as "HotWired" and "HotBot" to users. Terms: $83 million stock. At this point Lycos' aggressive buying spree of late could put the firm ahead in traffic but behind in ability to digest the deals. We expect Wired Digital may not be an easy assimilation, based on the diverse cultures of Lycos and Wired Digital.

    barnesandnoble.com (pending IPO) received a $200 million investment by German media giant Bertelsmann for a 50% stake in the Web bookselling division of Barnes and Noble (NYSE:BKS).

  • 98.10.05 - Netscape (NASDAQ:NSCP) Netcenter reports its registrations rose 112% since June, with 850,000 new members registering in September. Page views were also on the up, at 46%, although actual numbers aren't revealed.

  • 98.10.01 - PSINet (NASDAQ:PSIX) agreed to acquire Japanese ISP Tokyo Internet for undisclosed terms. PSINet reports the buy would add about $35 million in annual revenue to PSIX. PSINet also closed on its acquisition of Korean ISP Inet, which will add $11 million annual revenue PSIX says.

    Microsoft (NASDAQ:MSFT) plans to launch 24 regional portals for its MSN service, offering local news, info, sports, community, e-mail in several languages. The thing about Microsoft, while CompuServe, Prodigy, Delphi, Genie, Interchange, eWorld all underwent radical change or went broke, MSN keeps going, and going, until Microsoft gets it right. Most effected by this effort? AOL (NYSE:AOL), which has a small but growing global presence.