Brand and market-leading stocks in ISDEX find gains while the choppy waters
on Wall Street leave those not doing deals or making strategic moves
floating in the wake.
Hewlett-Packard's (NYSE:HWP) news that it will split into two units, one
medical and chemical analysis and the other PC, sparked the market early
but wasn't enough to keep it humming. Today's snapshot:
PSINet (NASDAQ:PSIX) agrees to acquire Satelnet and Planete.net. Both
are French ISPs with a business access focus. Terms undisclosed. What we
like about the deal is PSINet's continued global outlook in Asia and
Europe, tied to a core U.S. backbone supplemented by fiber from IXC. Nuts
and bolts backbone and connectivity.
Infospace.com (NASDAQ:INSP) announces a retail store outlet selling
the array of products from flowers to PCs. The store is available through
Infospace.com's affiliates including the big Web services AOL, MSN and
eBay (NASDAQ:EBAY) splits 2-for-1 today sending its shares up as
investors may see its shares priced more favorably. While we like eBay's
service and revenue growth we're still not convinced the valuation makes
sense at current levels. However, we're also willing to concede that with
only one mega brand in this space that eBay does enjoy some leverage that
rivals do not.
@Home (NASDAQ:ATHM) plans a Internet via TV service in the second
quarter, causing ATHM shares to rise more than $7.25 to $109.125 per share.
ATHM was one of our 1999 to watch and so far it's been eye popping. ATHM up
7% today to $115 per share.