RealTime IT News

Internet Market Close Report for 1998.04.07

ISDEX & Market Moves Snapshot

  07-Apr-98 % change point change
ISDEX 153.59 -3.16% -5.01
ISDEX Price Weighted Composite 1,549.75 -3.37% -53.97
NASDAQ 1,798.71 -1.66% -30.43
DJIA 8,956.50 -0.85% -76.73

  • E*TRADE (NASDAQ:EGRP) reports revenues second quarter ended March 31, 1998 jumps 66% to $53.3 million, but just 4% more than the previous quarter. 2Q net income reaches $6.1 million, or $0.15 per share, compared with $3.1 million or $0.09 per share 2Q97. Adds 80k accounts in latest quarter. Total accounts now exceed 425k vs. 145k March 1997.

  • PSINet (NASDAQ:PSIX) issues $600 million senior notes in a private placement through DLJ. 10% coupon, S&P rates the issue B- (minus), maturity 2/15/2005. One thing we're watching for: PSINet to attack the corporate access world en force with its new fiber relationship with IXC Communications (NASDAQ: IIXC) to use 10,000 equivalent route miles of OC-48 fiber. Maybe the cash will help.