RealTime IT News

Internet Market Close Report for 1998.07.13

  13-Jul-98 point change % change
ISDEX 167.51 4.55 2.79%
ISDEX Price Wtd. 1,885.63 72.88 4.02%
NASDAQ 1,965.53 22.49 1.16%
DJIA 9,096.21 -9.53 -0.10%
  13-Jul-98 point change % change
ISDEX 167.51 4.55 2.79%
ISDEX Price Wtd. 1,885.63 72.88 4.02%
NASDAQ 1,965.53 22.49 1.16%
DJIA 9,096.21 -9.53 -0.10%

  • E*TRADE (NASDAQ:EGRP) shares go ballistic on its $400 million deal with Softbank, which agreed to acquire 27% for $25.56 a share in a deal announced Friday after the market closed. EGRP shares gain 41% to close at $34.50 per share today as the market reacts. Still, EGRP is off its 52-week high of about $48, leaving us to ponder if there's more room to run.

  • Intel (NASDAQ:INTC) cuts its stake in CNET (NASDAQ:CNWK) to 4.1% from 5.9%. From July 8 to July 10 it sells CNWK shares at an average $54.90 per share. We don't think the move signals Intel's softening on CNET but rather could be in reaction to NBC stepping up to the plate as a major CNET shareholder and ally. In other words, Intel doesn't need to put cash in CNET's pocket any more.

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