RealTime IT News

Internet Market Close Report for 1998.04.21

Market Close Snapshot

  21-Apr-98 % change point change
ISDEX 178.55 1.17% 2.07
ISDEX Price Weighted Composite 1,812.97 1.10% 19.67
NASDAQ 1,903.87 0.89% 16.73
DJIA 9,184.94 0.47% 43.10

  • Sportsline (NASDAQ:SPLN) coverage begins from PaineWebber with a "buy" rating. We still like the stock and the franchise, even after its run from January.

  • CNET (NASDAQ:CNWK) reports $10.7 million revenue for the first quarter ended March 31, 1998, up 69% vs. 1Q97. Net loss is cut in half vs. 1Q97 with $5.7 million or $0.38 per share for 1Q98 as CNET goes for bottom line. With SNAP! vying for attention, however, this is still a $24 million annual loss enterprise at 1Q98 loss levels. A strong mindshare franchise with good news product. But who's the ultimate buyer here? Michael Bloomberg?

  • RealNetworks (NASDAQ:RNWK) reports $12.5 million first-quarter revenue, up 97% vs. 1Q97. Net losses without acquisition charges are $2.2 million or $0.07 loss per share. RNWK takes a $17.9 million charge thanks to its buy of Vivo Software, Inc. All tally, net loss for 1Q is $0.65 loss per share for the media streaming software leader, producer of RealAudio and RealVideo software.

  • ONSALE (NASDAQ:ONSL), the Web auction site, reports gross merchandise sales for first quarter of $50.3 million and revenue of $40.2 million vs. 1Q97 gross merchandise sales of $17.9 million and revenue of $12.3 million. 1Q98 loss reaches $4.5 million, or $0.24 per share vs. $52,000 net income 1Q97 as sales and marketing costs, and growth, escalate.