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Internet Market Close Report for 1998.03.23

By Steve Harmon   |    March 23, 1998
Page 1 of 1

ISDEX & Market Moves Snapshot

  20-Mar-98 % change point change
ISDEX 146.21 -0.37% -0.55
ISDEX Price Weighted Composite 1,454.25 -0.81% -11.88
NASDAQ 1,789.16 -0.60% -10.82
DJIA 8,906.43 1.17% 103.38

  • Infoseek (NASDAQ:SEEK) goes German with a deal with Deutsche Telekom Online Service, Europe's largest Internet access provider; Axel Springer Verlag, Germany's largest consumer media company; and Holtzbrinck, Germany's premier publisher across all media, specializing in business news and information. Infoseek will be the search front end.

  • PairGain (NASDAQ:PAIR) gets a "strong buy" from Piper Jaffray which initiates coverage of the DSL firm. If DSL, high speed data transfer over existing telephone lines, takes off then we think PairGain could be at the center of it.

  • PSINet (NASDAQ:PSIX) wants to sell debt to pay down debt and for general working capital purposes. The business ISP's stock hasn't enjoyed the run that consumer ISPs have had this year. Ironic, because business access accounts are lower in churn and higher in revenue and margin.

  • AOL (NYSE:AOL) introduces a new real estate service on its service, with the help of Cendant Corp's (NYSE:CD) real estate brokerage unit Century 21, Intuit (NASDAQ:INTU) and lenders. Another incremental revenue stram for AOL.