RealTime IT News

Internet Market Close Report for 1998.02.20

ISDEX & Market Moves Snapshot

  20-Feb-98 % change point change
ISDEX Geometric Average 123.94 -0.02% -0.03
ISDEX Price Weighted Composite 964.81 0.43% 4.09
NASDAQ 1,728.13 0.06% 1.12
DJIA 8,413.94 0.46% 38.36

  • DoubleClick (NASDAQ:DCLK) goes public at $17 per share and surges more than 70% before backing off and closing up more than 50% on its first day of trading at $26.75 per share. Shares price above range with more shares offered, 3.5 million. The $60 million proceeds should help this Web-ad pioneer push forward. DCLK originally sought to sell 2.3 million shares at $13.

  • USinternetworking Inc. (USi) withdrew its unsolicited $10 per share bid for PSINet (NASDAQ:PSIX). USi is run by former DIGEX head Christopher McCleary. We think McCleary will try and find another ISP to acquire.


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