Steve Harmon

CMGI (NASDAQ:CMGI) posts a worse-than-expected loss for its fiscal third quarter, $0.30 loss per share vs. First Call consensus loss of $0.13. The acquisition of I/PRO accounts for the gap. Revenue jumps to $43.7 million vs. $18.1 million for the quarter ending April 30 last year. CMGI drops 4% to $101.50 per share. E-LOAN (pending […]

The big news today is the $301 billion the Internet produced in revenue last year, about 1 percent of total U.S. GDP. The revenue came from Web sales of books, music, toys, etc. $58 billion of the total was stock trading and travel, according to the study from the University of Texas and Cisco. As […]

These to me are actually the best kinds of markets because value appears everywhere. Unlike when the entire sector of Internet stocks rides euphoria, adrenaline or caffeine then value runs and hides. But when the market sorts and shakes as it does now then I (for one anyway) find it a refreshing chance to look […]

As mergers between offline media and Web firms accelerate sorting out the deal flow seems to be difficult for some investors to figure. Traditional deals are fairly basic, company A acquires company B for $x. Applause begins. Now what we’re seeing in the Internet mergers and acquisitions arena is older, traditional media companies buying stakes […]

Market schizophrenia takes over again as stocks fall. That follows yesterday’s overall market rise. The great debate continues to be interest rates and if they’ll rise. It’s one reason those Internet companies that did secondaries may be better positioned than those that haven’t cashed up. Why? they raised capital when it was cheaper to do […]

First reader up this week writes: “Just wanted to pass along my thanks to you for writing what I felt was a very well written article (Morning Report, June 7). I direct a media team for an interactive agency and will be sharing and discussing the topic of open vs. closed cable delivery in this […]

ISDEX gains 5% to 511.79 as investors start to believe in stocks once again after a choppy three-weeks of interest rate debate. The biggest news again today is @Home which rebounds up 9.7% to $103.75 per share as the cable Internet company hosts a conference call to explain what the Oregon Federal court decision about […]

This is big enough of an event that I wanted you to sit down with it Monday morning and consider it carefully, it expands on my analysis from Friday. In lieu of emailbag (which we’ll take Tuesday), the future of the Internet may be at stake in a significant way. Oregon is known for being […]

Interest rate fear hike eases and Wall Street breathes a sigh of relief as the broad market gains today. ISDEX gains 4.6% to 486.58 with the Dow and NASDAQ up also. The most significant news today is a Federal Court in Oregon ruling that AT&T/TCI cable lines carrying Internet traffic must be opened up to […]

As “Austin Powers, The Spy Who Shagged Me” makes its way to movies the flickering image playing on Wall Street goes thusly: this ain’t groovy baby as Internet IPOs are off 26% in two weeks of trading. This film is rated G for gee, what happened. Quite simply too many deals chased too few dollars. […]

Time to separate wheat from the shaft (as in losses). Earlier this year ISDEX screamed to its all-time closing high of 696.76. June 2 the Internet Stock Index was 484.31, down 30% from the top. At times the ISDEX has wavered close to 50% off the high and many of the better-known stocks have dropped […]

ISDEX trades in a wide range today before closing slightly up against a weaker industrial stock movement. NASDAQ also gains some ground as investors debate in favor of selective tech and Internet shares. Today’s snapshot: Barnes & Noble (NYSE:BKS) decides to drop its $600 million acquisition plan for book wholesaler Ingram, citing anti-trust hassles it […]