RealTime IT News

Internet Market Close Report for 1998.03.13

ISDEX & Market Moves Snapshot

  13-Mar-98 % change point change
ISDEX 145.50 0.53% 0.76
NASDAQ 1,771.66 0.43% 7.60
DJIA 8,602.52 -0.66% -57.04

  • CMG Information (NASDAQ:CMGI) reports net revenues up 13% to $17.8 million for its second quarter ended January 31. That doesn't include the impact of deconsolidating its position in Lycos (NASDAQ:LCOS).

    CMG bottom line sunk to a net loss of $5.8 million, or ($0.58) basic earnings per share vs. $0.28 EPS for the previous quarter ended October 31, 1997. CMG is in a unique position in that it may raise earnings as easily as selling stock in Lycos. For now. The private investments are still illiquid unless private buyers emerge, although we think GeoCities (which CMG owns part of) should make haste to the public markets while it's the category leader in communities. The window looks open, ISDEX is up more than 40% year to date.

  • Speaking of the above, Open Text (NASDAQ:OTEXF) wants to tap public liquidity. Warrants for 1.75 million common shares to raise about $35 million.

    Steve Harmon invites you to meet the movers & shakers of venture capital live in Los Angeles at Spring Internet World's Business Forum, Capital Connections session, Thursday, March 12. Where deals, dollars and decisions come together. click here and SIGN UP NOW, space limited!