RealTime IT News

Internet Market Close Report for 1998.07.16

  16-Jul-98 point change % change
ISDEX 168.11 -0.22 -0.13%
ISDEX Price Wtd. 1,907.81 18.25 0.97%
NASDAQ 1,965.53 22.49 1.16%
DJIA 9,328.19 93.72 1.01%

  • Excite (NASDQ:XCIT) posts $4.6 million, $0.10 per share loss before charges, beating the 'Street consensus of $0.42 loss per share. With charges loss reaches $1.72 per share vs. $0.46 loss per share 2Q97. Revenue hits $33 million vs. $10.1 2Q97. The Excite Network grows page views 10% vs. 1Q98 to 44 million per day. Yahoo generates 115 million per day and also beat expectations with its 2Q numbers.

  • Broadcast.com bumps up its number of shares and price in its pending IPO. (click here for our analysis of its offering).

  • Auctioneer eBay just filed its intention to go public with the goal of raising $64 million. It's similar to the already public ONSALE (NASDAQ:ONSL) in some ways but more diverse in products auctioned. It has almost 1 million registered users. It agreed to acquire smaller auction site, Jump, in a move that we think may be to polish the product for the public market. More in future in-depth analysis next week in Internet Stock Report.