Steve Harmon

Lucent Technologies beat Wall Street estimates today with third quarter earnings of $0.32 cents a share and a two-fold increase in net income. The Murray Hill, NJ-based company said net income doubled to $435 million compared to $213 million or $0.17 a share for the same period a year ago. Investors on Wall Street embraced […]

Internet Service Provider PSINet Inc. announced record revenues of $53.7 million for the second quarter ended June 30, 1998. Revenues for the quarter were up 82 percent over the $29.5 million reported for the second quarter of 1997. Revenues for the six months ended June 30, 1998 were $98.2 million, a 78 percent increase over […]

SportsLine USA, Inc. is claiming a home run in the second quarter earnings game, reporting total revenue of $7.0 million, a 245% gain compared to the $2.0 million reported for same period last year. The Web-based sports resource also recorded a second quarter net loss of $7.5 million, or $0.41 per share, compared to a […]

22-Jul-98 point change % change ISDEX 169.70 1.49 0.89% ISDEX Price Wtd. 1,942.81 23.81 1.24% NASDAQ 1,969.75 -9.39 -0.47% DJIA 9,128.91 -61.28 -0.67% Amazon.com (NASDAQ:AMZN) reports better-than-expected results for second quarter: $116 million vs. $27.9 million 2Q97. Loss before charges was narrower at $0.33 loss per share than First Call consensus at $0.44 loss […]

There’s anecdotal evidence that Wall Street may be starting to understand that the Internet is a major turning point in the evolution of entire industries: the last three Internet stock IPOs we ran through the abacus showed 238% average gain as a group. ISDEX, Internet Stock Index, is up more than 70% year to date. […]

20-Jul-98 point change % change ISDEX 173.83 5.30 3.14% ISDEX Price Wtd. 2,024.44 105.06 5.47% NASDAQ 2,014.25 5.49 0.27% DJIA 9,295.75 -42.22 -0.45% Amazon.com (NASDAQ:AMZN) again silences critics with a 15% jump to $137.50 per share. Fueling the rise is expectation of strong revenue for the bookseller turned music seller turned video seller. We […]

Shopping.com said that it signed an engagement letter to secure an equity-based $20 million line of credit with multiple institutional investors. Under this privately placed equity offering, Shopping.com would have the right to draw $20 million in cash in exchange for Shopping.com common stock. The timing and amounts of the draw-downs will be at the […]

Before we open up the emailbag for Monday we couldn’t wait to share this with those of you who may have missed it: Broadcast.com (NASDAQ:BCST) debuted on July 17 as the all-time best ever IPO, up 279% from its $18 initial price per share. That was a bump from its target of $13. Click here […]

I appeared on CNBC yesterday talking about Internet investments. I had three minutes to peer into the soul of the information age and explain to Warren Buffet why he should buy Internet stocks. But he was too busy eating a Dilly Bar and downing it with a Coke. While CNBC failed to mention our top […]

17-Jul-98 point change % change ISDEX 168.53 0.42 0.25% ISDEX Price Wtd. 1,919.38 11.56 0.61% NASDAQ 2,008.76 43.23 2.20% DJIA 9,337.97 9.78 0.10% Broadcast.com (NASDAQ:BCST) debuts as the all-time best ever IPO, up 279% from its $18 initial price per share. That was a bump from its target of $13. Click here now and […]

The running of the bulls and now the stampeding of the cows. The average value per user for the top 10 Web sites in Mecklermedia’s WEBDEX shows a drop of 4.5% the past week. We think some of these stocks simply got ahead of themselves, with an underlying sense of frothy valuations. Consider that Web […]

16-Jul-98 point change % change ISDEX 168.11 -0.22 -0.13% ISDEX Price Wtd. 1,907.81 18.25 0.97% NASDAQ 1,965.53 22.49 1.16% DJIA 9,328.19 93.72 1.01% Excite (NASDQ:XCIT) posts $4.6 million, $0.10 per share loss before charges, beating the ‘Street consensus of $0.42 loss per share. With charges loss reaches $1.72 per share vs. $0.46 loss per […]