RealTime IT News

Internet Market Close Report for 1998.02.06

ISDEX & Market Moves Snapshot

  06-Feb-98 % change point change
ISDEX Geometric Average 113.39 0.25% 0.28
ISDEX Price Weighted Composite 895.00 0.16% 1.44
NASDAQ 1,694.35 1.04% 17.45
DJIA 8,189.49 0.89% 72.24

  • CyberCash (NASDAQ:CYCH) raises $15 million through placing convertible preferred stock and options to two private equity funds. The Internet commerce firm may raise another $15 million if certain conditions are satisfied. We would think those conditions may be a certain revenue level. So far the idea of digital payment systems have not been as large as many had expected when CyberCash began in 1994. Utopia aside, if the European Union can't settle on a currency how can the more distributed and varied Internet?

  • Mindspring (NASDAQ:MSPG) gets downgraded by Wheat First to "buy" from "outperform" due largely we suspect on MSPG's recent run. MSPG has crept up steadily since October 1997 with a few pauses in between, the past few weeks especially active. MSPG was $28 mid January. Closed today at $38.875 per share. Many see it as the AOL wannabe that just might be. Access is heavy hand holding, one thing Mindspring and Earthlink (NASDAQ:ELNK) exceed at.

  • Concentric Network (NASDAQ:CNCX) completes its $15.5 million acquisition of Internet hosting and access firm InterNex Information Services. The move complements Concentric's aim of providing dedicated bandwidth to corporations.