Internet Market Close Report for 1998.01.06
Steve Harmon | January 06, 1998
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ISDEX & Market Moves
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CMG Info (NASDAQ:CMGI) boasts of the deal between two of its portfolio companies with Yahoo (NASDAQ:YHOO). Closely-held GeoCities, the free Web site presence provider inked a deal Jan. 5 with Yahoo to become the exclusive homesteader on Yahoo in return for investment from Yahoo and Japan's Softbank. Lycos (NASDAQ:LCOS), which CMG owns more than 50% of, is the exclusive search engine for GeoCities. Net net, CMG expects the Yahoo agreement to boost GeoCities and Lycos traffic.
Lucent Technologies (NYSE:LU) places $300 million 6.5% coupon debt with a Jan. 15, 2028 maturity. Perhaps one of the least understood stocks of the networking era. Could be bigger than Intel or Sun in its long-term influence on the Internet. Now if others on Wall Street would see it that way.