RealTime IT News

Internet Market Close Report for 1998.04.01

ISDEX & Market Moves Snapshot

  01-Apr-98 % change point change
ISDEX 156.07 2.80% 4.25
ISDEX Price Weighted Composite 1,578.91 3.62% 55.19
NASDAQ 1,847.66 0.65% 11.98
DJIA 8,868.32 0.78% 68.51

  • Search stocks soar on multi-million dollar deals announced by Lycos (NASDAQ:LCOS) and Excite (NASDAQ:XCIT) for commerce. Lycos' deal is with CDnow, capping off a $30 million dealfest in many areas. Excite and software.net ink a multi-million deal. As we've said many times and say again--these may very well be the new networks (as in TV, radio--but Web). That's way beyond search, it's content, commerce, services, communications. Of course we've only been saying that for two years now.

  • AOL (NYSE:AOL) gets upgraded by BA Robertson Stephens to "strong buy" from "buy." We would agree and our reason is thus: AOL.com looks like it could be a major gateway in its own right. More kudos, etc. to Steve Case, Bob Pittmann and Ted Leonsis and more competition for the others from the world's largest online powerhouse.

  • ONSALE (NASDAQ:ONSL) is rated a "market performer" by Everen Securities with a six month price target of $32 (which it already hit today, closing at $33.375 per share). We think a little more aggressively here and say ONSL could be an AMZN-like stock, or at least half of AMZN, within the next year. ONSL's auction commerce model is cleaner than Amazon's book one and moves a wider varity of goods.