RealTime IT News

Internet Market Close Report for 1999.02.12

The correction that showed up earlier in the week pops up again for a second wind. Profit taking following yesterday's 13% run and general jitters about the tech and Internet sectors caused by an analyst downgrade of DELL. While DELL isn't an Internet stock per se the move rumbles through Internets and shaves 5% off ISDEX to 301.01. Today's snapshot:

  12-Feb-99 point change % change
ISDEX 301.01 -18.32 -5.74%
NASDAQ 2,321.89 -83.66 -3.48%
DJIA 9,274.89 -88.57 -0.95%

  • Sportsline (NASDAQ:SPLN) will receive $100 million worth of ad time on CBS as part of a five-year deal that results in CBS getting an increased stake in SPLN. CBS owned 12% of SPLN and now will own about 18%, CBS could eventually own 27% depending on SPLN stock price.

  • Proxicom files for an IPO in an effort to raise $75 million, another in a long line of Internet IPOs. More in Internet Stock Report next week.

  • Individual Investor (NASDAQ:INDI) set a 52-week record of $11.875 per share after announcing a deal to be featured on Yahoo Finance. INDI shares close up 33% to $8.25 per share.

    Harmon's HotWatch '99 - the hottest analysis about Internet stocks delivered to your email box each month! Last year's 10 to watch from Steve Harmon was up 300%. Will 1999 be a repeat? More info click here