RealTime IT News

Internet Market Close Report for 1998.04.13

Market Close Snapshot

  13-Apr-98 % change point change
ISDEX 164.03 0.46% 0.75
ISDEX Price Weighted Composite 1,696.56 1.55% 25.89
NASDAQ 1,824.95 0.26% 4.71
DJIA 9,012.30 0.19% 17.44

  • Versant Object Technologies (NASDAQ:VSNT) warns of a $0.63 and $0.66 per share first quarter loss based on weaker than expected license revenue. Wall Street forecast only an $0.08 per share loss. We believe VSNT has a good product but that sales and marketing may be outpacing revenue growth. VSNT plans to release 1Q results April 23.

  • CMG Information Services (NASDAQ:CMGI), the direct-marketer turned Internet venture investor firm extraordinaire, stock soared today, up 20% to a new all-time high--$91.75 per share on no news. Last week it showcased its investments at a conference, however. With that, we suspect that institutional buying of this 'public venture capital' outfit may be fueling the rise. More in ISR tomorrow.

  • Excite (NASDAQ:XCIT) begins offering users the ability to customize the way they see the Excite front page with news, weather, sports, entertainment offerings. Dow Jones reports the story and this helps XCIT shares rally. Yahoo (NASDAQ:YHOO) has had the My Yahoo service for quite some time so this is more catch up than innovate for Excite.