RealTime IT News

Internet Market Close Report for 1998.09.16

  16-Sep-98 point change % change
ISDEX 99.80 5.46 5.79%
ISDEX price weighted 1338.625 89.50 7.17%
NASDAQ 1,689.91 11.76 0.70%
DJIA 8,089.78 65.39 0.81%

  • RealNetworks (NASDAQ:RNWK) finds a heavyweight of its own in the gorilla wars of the Web and PC industries. The leading streaming media software maker, whose stock tanked on anti-Microsoft comments from its CEO Rob Glaser before the Senate, jumps back 25% today to $24.50 per share after it licenses Intel's video streaming compression software technology.

    Combined, Real's and Intel's video compression and streaming may yield speeds up to four times faster than today's video streams. The two firms will also work together to market the tools. The move also reaffirms a notion we shared with you more than a year ago that Intel's future may be more software/network based, and rival to Microsoft, over time. It'll be chip king as always but the new revenue streams in software and its myriad of investments in Internet technology may escalate the gorilla war.

  • Citibank buys an undisclosed stake in Microsoft-led TransPoint, a system to pay bills online. Citibank also has agreements with Checkfree (NASDAQ:CKFR), a rival effort. We estimate Citibank acquired a 20% stake for about $7 million to $10 million. TransPoint founders, Microsoft and First Data, both own a third, down from the 50% held before Citibank invested.

  • CMG Info (NASDAQ:CMGI) climbs 20% to $48 per share as the outlook for its portfolio brightens with GeoCities (NASDAQ:GCTY) naming a new VP, Planet Direct signing a deal with InfoSpace, CMG Info may post narrower losses according to whispers on the Street. To post your own Internet stock rumor click here - see Internet Stock Talk! Whispers & Rumors

    The place to be! Sign up now, Internet Investment Symposium '98 @ Fall Internet World!

    The Internet investment conference of the year! 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!"

    LaunchPad Pavilion, part of Fall Internet World '98, the world's largest Internet industry trade show held Oct 5 - 9, offers exhibit space for startups ONLY at a reduced price in order to meet their often limited capital available at the startup stage. It is Mecklermedia's way of letting the newbies get their voice heard. If you or a friend is at a Internet startup and want to exhibit at Fall Internet World (expected attendance is more than 50,000) in New York City's Javits Center then contact Reed Bocchino 203-341-2826 or email: mailto:rbocchino@mecklermedia.com