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RealTime IT News

Internet Market Close Report for 1998.08.04

  04-Aug-98 point change % change
ISDEX 127.38 -3.06 -2.35%
NASDAQ 1,785.64 -65.46 -3.54%
DJIA 8,487.31 -299.43 -3.41%

  • Amazon.com (NASDAQ:AMZN) does two all-stock deals valued at $264 million. It agrees to acquire shopping search engine Junglee for 1.6 million AMZN shares and assume options; and secondly, Amazon snaps up Web-based contact management service PlanetAll for 800,000 AMZN shares. CMG Info (NASDAQ:CMGI) sells its 25% stake in PlanetAll to Amazon for 225,000 restricted AMZN shares. The moves bring to the forefront Amazon's quest to be the etailer on the Web.

  • AOL (NYSE:AOL) reports fiscal fourth quarter revenue up 67% to $792.3 million vs. its same quarter last year. Income before charges is $57.3 million, and beat the 'Street at $0.23 EPS vs. First Call's $0.19 estimate and our $0.20 forecast. Last year AOL had $0.03 EPS for the quarter. Final net income numbers will be announced later, however, after factoring in the charges for the acquisitions of Mirabilis (ICQ) and NetChannel. We think AOL's position now more than ever could be as the dominant player in the Internet space, where Microsoft wishes it was.

  • Mecklermedia (NASDAQ:MECK), producer of this report, posts $5.8 million second quarter revenue vs. $6.3 million 2Q97. Last year's results included print publication revenue that has been discontinued. Net loss for 2Q98 is $0.20 loss per share vs. $0.23 loss per share 2Q97. Nine-month earnings per share reach $0.73 vs. $0.42 as consolidated trade show and Web revenue increases.


    Internet Investment Symposium '98 @ Fall Internet World!

    Book now! New York City, Oct. 8-9 as Steve Harmon talks investments with some of the top names in the industry...CEOs of GeoCities, CMG Info, DoubleClick, venture capitalists doing the $ billion deals, and some of the top Internet stock analysts on Wall Street (Steve was one of them) selected by CBS MarketWatch!"