RealTime IT News

Internet Market Close Report for 1998.05.19

  19-May-98 point change % change
ISDEX 149.93 0.08 0.05%
ISDEX Price Wtd. 1,549.69 10.56 0.69%
NASDAQ 1,845.87 14.25 0.78%
DJIA 9,054.65 3.74 0.04%

  • Excite (NASDAQ:XCIT) files to sell 1.35 million shares of XCIT to pay for its $70 million deal with Netscape and also to raise working capital. The move follows Lycos' filing of 3 million shares May 14. We think all the search and guide sites in the top tier could (and should) tap the public market to cash up for the coming battle with Microsoft in the search space.

  • Netscape (NASDAQ:NSCP) inks a deal with Citibank to supply the banking services firm software for its ecommerce system it plans on building. Just when you thought Netscape was all media the software makes a big splash.

  • AOL (NYSE:AOL) and Kodak sign an agreement that ships photos dropped off at Kodak developer centers to be emailed to AOL users under a 'you've got pictures' effort. A good move that shows AOL is starting to leverage its user base into new fields.

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