RealTime IT News

Internet Market Close Report for 1998.05.14

  14-May-98 % change point change
ISDEX 157.51 0.17% 0.27
ISDEX Price Wtd. 1,618.06 0.10% 1.56
NASDAQ 1,865.36 -0.04% -0.82
DJIA 9,172.23 -0.43% -39.61

  • Pointcast finally files to go public, 3.75 million shares at a target of $11 per share. We think this could be one of those high-profile Internet stock offers along the lines of Netscape, Yahoo or Broadcom that rocks Wall Street's world, alters the investmentscape. Look for our own unique analysis next week, significant in that I first saw Pointcast in 1994 when one of its creators showed me it pre-alpha. There must have been 5 employees at the time. I thought it was revolutionary then, what about now? Let's see the numbers and nuances next week.

  • Lycos (NASDAQ:LCOS) announces a stock offer of 3.45 million shares on the heels of reporting revenues up 158% to $15.1 million for its third quarter ending April 30, 1998 vs. its fiscal 3Q97. Losses reach $2.4 million or $0.15 loss per share for the quarter before amortization and one time merger-related expenses -- with those it's a loss of $5.90 per share.

    Deferred revenue is more than $56 million, and we think significant since this represents the ecommerce deals it's struck. Lycos' buying binge hurt bottom line as it absorbed Tripod and WiseWire.