Internet stocks lose ground as a group with ISDEX off 4% to 465.01 with the NASDAQ also weakening. The Dow shines today as the debate of old world vs. new world stocks continues. The snapshot:
SportsLine (NASDAQ:SPLN) completes its acquisition of Golf Club Trader for $7 million in SPLN stock. An ‘eBay for gold club’ type of service and a good move I believe for SportsLine as it seeks new revenue streams outside content.
Beyond.com (NASDAQ:BYND) and ITC sign a $120 million deal with the IRS for Internet-delivered software sales. The move is a positive one for Beyond, which I have had doubts about as I wonder how easy or how soon it could be before Microsoft doesn’t adopt the sell direct model itself (a la DELL).
Mindspring (NASDAQ:MSPG) and barnesandnoble.com (NASDAQ:BNBN) will open a co-branded bookstore on Mindspring’s website, aimed at serving Mindspring’s 1 million subscribers. I think we’ll see more of this co-branded etailing across the web.