RealTime IT News

Internet Market Close Report for 1998.08.12

  12-Aug-98 point change % change
ISDEX 135.66 0.95 0.71%
NASDAQ 1,825.53 32.83 1.83%
DJIA 8,552.96 90.11 1.06%

GeoCities pops again today to north of $51 per share before closing at $45.50 on heavy volume. At its high the GeoCities valuation exceeds $2 billion fully-diluted market capitalization. This is where we thought GCTY could be trading its first day but it took the market's second wind to get it going to the comparable values of the other top 10 Web sites. GeoCities will be in ISDEX, The Internet Stock Index, soon, with other newbies. Let's take a look at GeoCities today:

GeoCities GCTY
Aug 12 close $ 45.50
Primary shares (mil.) 30.66
Primary market cap (mil.) $1,395.08
Fully-diluted shares (mil.) 42.89
FDS market cap at open (mil.) $1,951.50
Estimated 1998 revenue (mil.) $ 15.00
Primary mkt cap/est. revenue 93
FDS mkt cap/est. revenue 130
© 1998 Mecklermedia, Internet.com  

  • Excite (NASDAQ:XCIT) reports that effective August 12, 1998, Morgan Stanley releases lock-up restrictions on an aggregate of 1.3 million shares of XCIT held by certain shareholders. Shares will be available for sale August 14, 1998.

  • Network Solutions (NASDAQ:NSOL) inks an agreement with leading ISP Mindspring (NASDAQ:MSPG) which allows Mindspring users to register domains at Mindspring. We see the affiliate model as the wave of the future as sites seek to add value in one package in as few clicks as possible.

  • CheckFree (NASDAQ:CHKR) shares tank, losing 41% or nearly $10 per share to close at $13 .9375 per share when its CEO tells the 'Street that earnings won't meet the target for 1999. The new target is about $0.14 EPS, less than half that forecast by Zacks.

    CheckFree feels pressure from Internet-based payment options and says the focus now is to meet that market, get market share now, even at short-term earnings expense. We think the move could pay off long term as these are the days of investing in growth and not earnings. Future earnings matter more with Internet companies building marketshare.

    Internet Startup Live! Venture Showcase


    The Internet investment world's mountaintop, got a startup Internet business you want to scream with?

    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...top execs of GeoCities, CMG Info, DoubleClick, venture capitalists doing the $ billion deals, debuts hot startups at Startup Live!, and debates top stocks with the leading Internet stock analysts on Wall Street (Steve was one of them) selected by CBS MarketWatch!"