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RealTime IT News

Internet Market Close Report for 1998.06.16

THE INTERNET STOCK INDEX

16-Jun-98

point change

% change

ISDEX

133.36

3.75

2.89%

ISDEX Price Wtd.

1,431.63

50.50

3.66%

NASDAQ

1,753.12

37.37

2.18%

DJIA

8,665.29

37.36

0.43%

  • Software.net's planned initial public offering inspires Wall Street to look at the hammered Egghead.com (NASDAQ:EGGS), which gains 10% today to $8.25 per share. Egghead has some smart deals with CNET and GeoCities among a few but the question now is does management move in Internet years?

  • Amazon (NASDAQ:AMZN) up again...maybe they should change the name to "Amazing" Does deal with Muze, a database of movie, music and book content that will be fed into Amazon.com. AMZN closes at $74.09 per share, up 83% since our analysis in Internet Stock Report, April 24. Click here and see it!

    However, hold your hats, at these valuation levels we think AMZN is ahead of itself, more euphoria or lack of competitors to invest in, than anything. Amazon's rivals in music, CDnow (NASDAQ:CDNW) and N2K (NASDAQ:NTKI) should examine their business models and margins, especially as Amazon puts pressure on the tune front, with more than $300 million cash to back it up via its recent bond offer.

  • AOL (NYSE:AOL) will have its icon placed on two of IBM's PC lines, ThinkPad and Aptiva, as the battle for the initial PC screen continues. The real battle isn't icons, it's customer service and ease of use. Microsoft's MSN found that out the hard way. Expect more turf wars here between Web services trying to land real estate on the PC box desktop.


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