RealTime IT News

Overall Softening But... ISDEX Finds Brand Stocks Rising

Since early February's flirt with 377, it's been a rollercoaster for ISDEX as the 50 stock index digests the mergers at the top and wonders what driving forces could emerge to move Internet stocks once again.

On March 2 ISDEX closed at 304.66, up 19% from February 3 but up nearly 4% the past week.

Against that backdrop was the Dow Industrials chugging sideways and the NASDAQ taking a hit thanks to DELL (or no thanks).

ISDEX ®   02-Mar-99 % change Point change % change
The Internet Stock Index   close from from from
www.isdex.com     23-Feb-99 23-Feb-99 31-Dec-98
           
ISDEX   304.66 -1.4% -4.46 6.3%
NASDAQ   2,259.03 -4.9% -117.32 3.0%
DJIA   9,297.61 -2.6% -246.81 1.3%
           
@Home Network ATHM $115.56 6% $6.50 56%
24/7 Media TFSM $25.69 -3% -$0.81 -8%
Amazon.Com AMZN $121.31 5% $6.13 13%
America Online AOL $86.69 -1% -$1.31 12%
Axent AXNT $36.25 -1% -$0.38 19%
Beyond.com BYND $26.13 -2% -$0.56 26%
Broadcast.com BCST $90.00 15% $11.50 135%
Broadcom BRCM $57.44 -10% -$6.69 -5%
Broadvision BVSN $55.06 32% $13.31 72%
CDnow CDNW $16.00 -6% -$1.00 -11%
CheckPoint Software CHKPF $36.69 -9% -$3.69 -20%
Cisco CSCO $95.69 -7% -$7.25 3%
CMG Info CMGI $141.00 20% $23.50 165%
CNET CNET $122.75 -1% -$1.25 138%
Concentric CNCX $45.44 4% $1.56 37%
CyberCash CYCH $12.81 -10% -$1.38 -15%
Cyberian Outpost COOL $16.13 0% -$0.06 -41%
Doubleclick DCLK $90.50 -7% -$6.94 103%
E*TRADE EGRP $47.69 2% $0.94 104%
Earthlink Network ELNK $62.00 -5% -$3.00 9%
eBay EBAY $117.06 24% $22.85 46%
Egghead.com EGGS $15.69 -10% -$1.75 -25%
Excite XCIT $108.56 6% $6.19 158%
Exodus EXDS $80.00 -3% -$2.88 25%
GeoCities GCTY $97.38 -1% -$0.50 190%
Go2Net GNET $62.13 16% $8.63 251%
Infoseek SEEK $67.31 -6% -$3.94 36%
Inktomi INKT $61.75 -6% -$4.00 -5%
Infospace.com INSP $57.88 23% $10.88 52%
ISS Group ISSX $58.44 -3% -$1.56 6%
Lycos LCOS $90.75 -3% -$3.25 63%
Mindspring MSPG $85.88 -7% -$6.56 41%
N2K NTKI $12.63 -4% -$0.50 -3%
Netscape NSCP $75.50 -2% -$1.88 24%
Network Associates NETA $44.88 -8% -$4.13 -32%
Network Solutions NSOL $169.00 3% $4.50 29%
Onsale ONSL $34.06 -1% -$0.44 -15%
Open Market OMKT $12.63 -5% -$0.69 8%
Preview Travel PTVL $21.31 6% $1.19 16%
PSINet PSIX $37.13 3% $1.00 78%
RealNetworks RNWK $83.13 19% $13.50 132%
Security Dynamics SDTI $16.88 -12% -$2.25 -27%
Security First Technologies SONE $70.13 23% $13.13 130%
Sportsline USA SPLN $50.50 18% $7.75 224%
USWeb USWB $37.00 5% $1.88 40%
Verio VRIO $31.00 11% $3.00 39%
Verisign VRSN $95.44 -12% -$13.06 61%
VocalTec VOCLF $12.25 3% $0.38 9%
Xoom.com XMCM $52.88 5% $2.38 60%
Yahoo! YHOO $153.19 0% $0.31 29%

News behind the moves:

  • 99.03.02 - 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 eBay does enjoy some leverage that rivals do not.

    @Home (NASDAQ:ATHM) plans an 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.

  • 99.03.01 - Amazon.com (NASDAQ:AMZN) realizes some return on its 46% stake in startup Drugstore.com. The online pharmacy inks a deal with Yahoo to provide its services to the popular portal.

  • 99.02.26 - AOL (NYSE:AOL) is a rumored (again) takeover candidate by AT&T (NYSE:T). With @Home-Excite coming under the phone giant's wing, adding AOL would give it the meta-brand it needs to become a truly global powerhouse in bit carriage as that's the business AT&T is in -- carrying bits. The wires don't matter, owning them does, as does having something to ship on them. If it happens, which seems unlikely at this point as this is more a merger of equals in our opinion, @Home and AOL would be powerful.

  • 99.02.25 - Media Metrix, which leads the market in Internet audience measurement, files for IPO and wants to raise $48.3 million. It is another in a long line of offers that continue to flow, following behind theStreet.com and iVillage, who also filed recently. More on these Friday in my analysis of IPOs.

  • 99.02.23 - theStreet.com filed to go public, seeking to raise as much as $75 million. The financial news site generates revenue through subscriptions and ads. theStreet.com posted $4.6 million revenue in 1998, with $1.686 million from subscriptions to its site. Loss for last year was $16.3 million. As of Feb. 17 the Web service, owned in part by financial "shock jock" Jim Cramer, had 37,000 subscribers.

  • 99.02.23 - Disney (NYSE:DIS) makes a big to-do about its new Go.com Network at its annual shareholder meeting. We think that the venture with Infoseek (NASDAQ:SEEK) is gaining momentum. Now if those rumors about Steve Jobs taking over Disney's top slot come true, it could get interesting quickly. Jobs founded Apple and Pixar (the digital animation firm that has deals with Disney). Jobs is probably a long shot to put on the mouse ears but you never know.

    Note: As of March 1 we added 3 new stocks to ISDEX : Go2Net (NASDAQ:GNET), Infospace.com (NASDAQ:INSP) and Xoom.com (NASDAQ:XMCM).


    Harmon's Hotwatch '99 - the 10 stocks to watch in the Internet space - last year's watch group was up more than 300 for 1999. It's now available as a monthly paid newsletter sent direct to your email box - click here to subscribe now -