Steve Harmon

Qwest Communications International Inc. today disclosed its second quarter results, posting revenues of $393.7 million, and a net loss of $15.6 million or $0.06 per share. Qwest said the earnings amounted to a gain of $165 million or a 72% increase over year-ago results, while net losses were lower than predicted by Wall Street. First […]

Network engine provider NetBoost Corp. today announced it completed a $10.5 million round of financing with lead investment from Intel Corp. and Texas Instruments. Venture capital firms Bay Partners, Charter Ventures, Crosspoint Venture Partners, and Hambrecht & Quist were also involved. The company also announced that Erik Lassila, partner at Charter Ventures, joined the NetBoost […]

27-Jul-98 point change % change ISDEX 150.85 -8.29 -5.21% NASDAQ 1,933.26 2.17 0.11% DJIA 9,028.24 90.88 1.02% Amazon.com (NASDAQ:AMZN) gets a “buy” rating from CS First Boston. We think Amazon may be on a holding pattern until music and video sales start coming in. Network Solutions (NASDAQ:NSOL) gets a “strong buy” rating from Hambrecht […]

First reader up this week writes: “What’s your spin on the downturn Friday for Internet stocks and the market?” Reply: The market got ahead of itself with hype riding hype so a much-needed correction hit and took some of the froth off. We also saw a flight to quality as investors who put off the […]

E-commerce software provider Open Market, Inc. announced net revenues of $16.5 million for the second quarter ended June 30, 1998, along with a net loss of $16.0 million or $0.49 per share. This marks a slight increase from second quarter 1997 revenues of $15.5 million. Net losses more than doubled, however, from $7.5 million or […]

New York City-based online community provider theglobe.com, inc. today announced it filed for an initial public offering of up to $50 million in common stock with the Securities and Exchange Commission (SEC). A Registration Statement concerning the IPO was filed with the SEC but it has yet to become effective. A spokesperson from theglobe.com refused […]

The honeymoon romance that begins when a firm first hits the Web and makes a splash until it goes public and then has to show the world its balance sheet both good, bad or ugly usually lasts about 24 to 36 months. As the new ‘venture’ investor, Wall Street allows the hyper-Internet time frame to […]

Amazon.com, Inc. released its 1998 second quarter results late yesterday, reporting $116 million in net sales, a surge of 316% over sales of $27.9 million for the same period last year. However, pro forma net losses of $15.8 million or $0.33 per share were also recorded, an increase from second quarter 1997 net losses of […]

According to a recent study, 21 million households will be using online financial services by 2003, despite the fact that a big question remains as to which product or service in the market will draw the most consumers to a franchise. “Finance Surges On-line,” a report issued by Forrester’s Research, Inc., said that the financial […]

For the past six months we’ve been estimating GeoCities valuation and are happy to report that our estimates were right on target. The websteader announced its initial public offering at $557 million or $13 per share (fully diluted). That’s right in the $500 million to $550 million range GeoCities has held in WEBDEX. Mecklermedia’s June […]

23-Jul-98 point change % change ISDEX 163.08 -6.62 -3.90% ISDEX Price Wtd. 1,881.31 -61.50 -3.17% NASDAQ 1,935.22 -34.53 -1.75% DJIA 8,932.98 -195.93 -2.15% PSINet (NASDAQ:PSIX) climbs 20% to $19.25 per share on heavy volume, 18.8 million shares as rumors spread that AT&T may be shopping for it. While we don’t think Ma Bell is […]

A classic example of how to shift gears and turn the corner in the Internet space: Security First Network Bank (NASDAQ:SFNB), up 55% since July 7 and 264% since we rang in 1998. How did Security First manage it? By becoming a bank’s bank with its S1 unit in the ether world of the Internet, […]