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Dow Takes Spotlight In Record High

Written By
Steve Harmon
Steve Harmon
Apr 18, 1999
2 minute read

ISDEX finds some stability after a bout of profit taking. And no wonder after a year to date sprint of more than 100% gains. Investor focus the past few trading sessions has been on the Dow, which rockets to new highs.

  • Lycos (NASDAQ:LCOS) expects to meet its fiscal third–quarter analyst estimates which First Call slates at a loss of $0.03 per share. Shareholders vote in July whether or not to approve Lycos’ merger with USA Networks run by Barry Diller. Pro forma LCOS shareholders would own 30% of USA/Lycos.
  • Amazon.com (NASDAQ:AMZN) finds believers in its embracing of the auction space, prompting DLJ to set a $280 per share target. I think the lineup of Web stocks is AOL (NYSE:AOL), Yahoo (NASDAQ:YHOO), Amazon (NASDAQ:AMZN). So you can see who Amazon needs to beat if all these converge in the same space soon. I believe Amazon needs traffic though, more users, a community site, to match its book, music and movie fans with their own home pages.
  • Beyond.com (NASDAQ:BYND) surpasses 1 million customers. Could be a sign that the software etail/ESD provider may be making in-roads. I still await to see how Buydirect.com affects the top line/bottom line. My forecast could see it add perhaps $10 million revenue this year but the losses could hamper overall results.
  • Correction: this morning’s report should be Network Associates and not Network Solutions.

    Steve Harmon’s new book — Zero Gravity: Riding Venture Capital from High-Tech Start-up to Breakout IPO — available from Bloomberg Press soon!

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    Steve Harmon
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