RealTime IT News

Internet Market Close Report for 1998.05.12

  12-May-98 % change point change
ISDEX 154.79 -1.07% -1.67
ISDEX Price Wtd. 1,575.13 -2.13% -34.34
NASDAQ 1,860.16 0.65% 12.09
DJIA 9,161.77 0.77% 70.25

  • CNET (NASDAQ:CNWK) agrees to acquire U.Vision/ComputerESP for 545k shares of CNWK, about $21.2 million. ComputerESP allows buyers to search for products and availability on computer items. Direct or indirect rivals: Yahoo shopping engine, ONSALE auctions, InternetShopper.com.

  • CheckPoint Software (NASDAQ:CHKPF) shares rise more than 11% to $31.94 per share on news late yesterday that the firewall software market leader (45%) will strengthen its ties with PC software king Microsoft in a two-year agreement to mesh interoperability of its product with Microsoft NT. CHKPF had taken a hit recently after comments made more than two weeks ago by Microsoft's Steve Ballmer indicated Microsoft was moving into the security software field and that CheckPoint could be a rival.

    Microsoft has been very aggressive in all software spaces so we expect this may end up being the case in firewalls also. NT firewall anyone? Remember, Microsoft "worked" with IBM (PC), Apple (GUI), Spyglass (Web browser) and now CheckPoint (firewalls).

  • Verio files its initial public offering price at the top of its range, $23 per share, with 5.5 million shares offered. We expect a short pop on its first day but not anything close to Broadcom (NASDAQ:BRCM) which zoomed. We'll see May 13. For our analysis on Verio's IPO see www.isdex.com Archives.