RealTime IT News

Internet Stocks Paddle Through Rough Wall Street Sea

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:

  02-Mar-99 % change point change
ISDEX 305.11 -3.43% -10.83
NASDAQ 2,259.03 -1.58% -36.15
DJIA 9,297.61 -0.29% -27.17

  • 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 Netscape.

  • 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.