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The freefall in Internet stocks that accompanied the release of Q2 earnings reports over the past several weeks appears to have ended, but that doesn’t mean ‘Net tickers are poised for a comeback.
The fact is that the vast majority of Internet companies reported losses in the recent quarter; not exactly
the foundation upon which to build a rally. Also, though investor fears of interest-rate hikes may have eased, they certainly have not dissipated.
Finally, it’s August, which means much of Wall Street is in the Hamptons, Europe or Martha’s Vineyard. While there may be a bit of back and forth in the remaining days of August, look for ‘Net tickers to be pretty much where they are now come Labor Day. Best bets for advances are the infrastructure players (Speed/Bandwidth posted the only strong week), wireless companies and the Security sector, which has shown more stability than all other groups in the year to date.
PERFORMANCE BY SECTOR
Ave. 7-Day
% Change
Speed/Bandwidth +9.1%
Performance Software +4.3%
Security +2.5%
Advertising/Marketing -0.3%
Content/Communities -0.8%
ISPs/Access Providers -1.1%
Search/Portals -1.2%
Internet Services -1.2%
E-commerce Enablers -1.2%
E-tailers -2.3%
Wireless -2.5%
Consultants/Designers -3.4%
Financial Services -3.6%
TOP 10 GAINERS 7-Day % Gain Category
PNVN PNV 52.3% ISPs/Access Providers
SWCM Software.com 44.8% Performance Software
EPAY Bottomline 44.6% E-Commerce Enablers
PKSI Primus Knowledge 41.0% Performance Software
RAMP Ramp Networks 39.5% Speed/Bandwidth
SNOW Snowball.com 39.4% Content/Communities
GDEN Garden.com 37.9% E-tailers
NTGX net.Genesis 37.5% Performance Software
ETIN Etinuum 32.0% Internet Services
JNPR Juniper Networks 30.5% Speed/Bandwidth
TOP 10 LOSERS 7-Day % Loss Category
LOAX Log On America -28.4% ISPs/Access Providers
WBSN Websense -28.3% Performance Software
HSTM HealthStream -26.8% Content/Communities
IPET Pets.com -26.1% E-tailers
PFSW PFSweb -26.0% E-Commerce Enablers
KOOP drkoop.com -25.7% Content/Communities
DTHK DigitalThink -25.7% Content/Communities
DRTN Data Return -24.6% Internet Services
ITRA Intraware -24.6% E-Commerce Enablers
VATA Versata -23.2% Performance Software
********************************************************************
WIRELESS PRODUCTS/SERVICES
8/9 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap
HAND Handspring 35.31 5.75 19.5% 21.2% N/A 4.4B
PHCM Phone.com 91.13 9.88 12.2% 19.0% -21.6% 7.2B
PRTH Parthus 28.00 1.38 5.2% 6.2% N/A 1.4B
MCOM Metricom 34.19 1.44 4.4% 22.9% -56.6% 1.0B
INSP InfoSpace 31.38 -0.06 -0.2%
-32.0% -41.5% 7.2B
VYYO Vyyo 26.25 -0.25 -0.9% -30.9% N/A 934.8
SVNX 724 Solutions 29.81 -0.81 -2.7% -17.5% N/A 1.1B
PALM Palm 37.63 -1.50 -3.8% 2.4% N/A 21.3B
PUMA Puma Tech. 19.19 -0.81 -4.1% -26.0% -70.7% 804.4
GWRX Geoworks 11.75 -0.75 -6.0% -16.1% -30.0% 218.7
DLK Datalink.net 17.56 -1.57 -8.2% 26.0% 222.2% 246.1
AETH Aether Systems 136.00 -16.28 -10.7% -10.9% 89.4% 5.2B
GOAM GoAmerica 8.75 -1.13 -11.4% -39.4% N/A 449.6
IWAV interWAVE 12.50 -1.75 -12.3% -45.5% N/A 582.0
IIIM i3 Mobile 9.00 -2.13 -19.1% -44.2% N/A 204.4
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Wireless Ave. -2.5%
The top gainer here is wireless handheld device maker Handspring, but the headline-grabber is runner-up Phone.com, which soared 17% on Wednesday alone after announcing a merger with Software.com. The $8 billion deal brings together Phone.com’s Wireless Access Protocol technology, which allows users to modify and send Web pages over the Internet to cell phones, with Software.com’s messaging software. For once, this really seems like a merger that will produce real synergies. Both companies target telcos, and there is little overlap in their respective customer bases. Now if only the new company could turn a profit. i3 Mobile doesn’t have the worst monthly mark in the group, but not for lack of trying. IIIM is down 27% since releasing an earnings report on July 27 showing $2 million in revenues and $3.4 million in losses. interWAVE has fallen 69% from its closing price of $40.25 per share on Feb. 11, when it debuted on the Nasdaq.
SEARCH/PORTALS
8/9 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap
DIG Walt Disney 12.63 2.00 18.8% 27.8% -46.8% 2.0B
ASKJ Ask Jeeves 18.94 1.63 9.4% 22.7% -83.3% 674.7
CHINA Chinadotcom 16.25 0.75 4.8% -24.9% -58.8% 1.4B
YHOO Yahoo! 132.69 5.56 4.4% 6.2% -38.8% 72.9B
AOL America Online 52.63 0.38 0.7% -7.7% -30.3% 120.9B
LOOK LookSmart 16.94 -0.06 -0.4% -20.1% -37.4% 1.5B
LCOS Lycos 57.13 -0.94 -1.6% 29.1% -28.4% 6.3B
GOTO GoTo.com 14.56 -0.81 -5.3% -6.4% -75.3% 760.0
BOUT About.com 29.14 -1.92 -6.2% 1.4% -67.6% 516.5
STRM StarMedia 13.13 -1.56 -10.6% -25.8% -67.3% 854.6
SOHU Sohu.com 5.69 -0.89 -12.5% -56.2% N/A 177.6
SINA SINA.com 18.69 -3.44 -15.5% -35.1% N/A 760.3
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Search/Portals Ave. -1.2%
From the “We’ll Keep Changing Names Until One Works” Dept.: First it was Go Network. Then it became Go.com. Now Walt Disney is once again renaming its beleaguered Web spinoff. This time it’s being called the Walt Disney Internet Group, with a new NYSE ticker that you can really DIG. From the cellar depths comes the strains of World Music, as two Chinese portals battle with Latin American portal StarMedia Networks for worst-place honors. Sohu.com went public on July 12, closing at $13 per share. It inched up the next day, and then fell for 11 straight trading sessions before stabilizing in early August.
CONTENT/COMMUNITIES
8/9 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap
SNOW Snowball.com 2.88 0.81 39.4% -33.3% N/A 108.0
SALN Salon.com 2.00 0.38 23.1% 60.0% -60.1% 27.7
TSCM TheStreet.com 6.13 1.13 22.5% N/A -68.2% 1
55.4
STAD Student Advantage 9.00 1.56 21.0% 11.6% -59.5% 321.8
EWBX EarthWeb 14.13 1.94 15.9% 6.1% -72.0% 148.8
IMPV ImproveNet 1.75 0.19 12.0% -20.0% N/A 29.3
HGAT HealthGate Data 1.25 0.13 11.1% -20.0% N/A 22.3
QKKA Quokka Sports 6.75 0.56 9.1% -22.9% -48.7% 300.6
ILIF ilife.com 1.50 0.13 9.1% 33.3% -66.7% 20.3
INTM internet.com 20.81 1.66 8.6% -3.8% -60.3% 522.2
SPLN SportsLine.com 18.38 1.38 8.1% 23.5% -63.4% 484.5
EDGR EDGAR Online 3.88 0.19 5.1% 19.2% -47.6% 48.3
HCEN HealthCentral 3.25 0.13 4.0% 30.0% -55.7% 146.7
INFO Infonautics 4.03 0.06 1.6% 7.5% -42.6% 49.1
HOMS Homestore.com 35.50 0.50 1.4% 23.7% -52.3% 2.9B
LOIS Loislaw.com 8.47 0.09 1.1% -7.2% -78.4% 177.7
NBCI NBC Internet 10.44 0.06 0.6% -14.8% -86.5% 635.6
KNOT Knot 3.69 0.00 0.0% 9.3% -56.4% 53.8
GNET Go2Net 55.56 -0.13 -0.2% 17.9% -36.3% 1.7B
IVIL iVillage 6.44 -0.06 -1.0% -24.3% -68.3% 191.1
CBDR CareerBuilder 7.91 -0.09 -1.2% 118.1% 22.5% 188.3
TURF iTurf 3.25 -0.06 -1.9% 23.8% -73.9% 68.6
SWBD Switchboard 7.84 -0.19 -2.3% -11.6% N/A 193.3
ARTD Artistdirect 3.22 -0.09 -2.8% 28.8% N/A 119.0
IASIA Asiacontent.com 2.94 -0.09 -3.1% N/A N/A 100.9
NETR NetRadio 1.88 -0.06 -3.2% -18.9% -77.3% 18.8
TPN TownPagesNet 2.06 -0.07 -3.3% 27.0% -59.8% 19.8
VERT VerticalNet 44.13 -2.00 -4.3% -5.6% -46.3% 3.6B
MLTX Multex.com 22.13 -1.13 -4.8% -14.9% -41.3% 672.3
ONES OneSource 10.50 -0.63 -5.6% 6.3% -22.0% 121.7
HOOV Hoover's 6.69 -0.50 -7.0% -15.1% -23.7% 86.9
CNET CNET Networks 26.19 -2.38 -8.3% -10.3% -54.0% 2.2B
TCTY Talk City 1.38 -0.13 -8.3% N/A -94.7% 34.4
VDAT Visual Data 2.75 -0.25 -8.3% -30.2% -76.1% 23.3
LAUN Launch Media 6.13 -0.63 -9.3% -20.3% -67.7% 83.0
ZDZ ZDNet 15.09 -1.66 -9.9% 13.9% -28.3% 1.1B
TGLO theglobe.com 1.41 -0.16 -10.0% -31.8% -83.3% 42.9
PASA quepasa.com 0.94 -0.13 -11.8% -34.8% -92.6% 17.7
WOMN Women.com 3.81 -0.56 -12.9% -31.5% -73.3% 178.2
MKTW MarketWatch.com 14.38 -2.38 -14.2% -31.5% -60.7% 202.9
MPPP MP3.com 8.25 -1.56 -15.9% -33.0% -74.0% 562.5
DTHK DigitalThink 39.38 -13.63 -25.7% -20.5% N/A 1.3B
KOOP drkoop.com 0.81 -0.28 -25.7% -55.2% -93.2% 28.2
HSTM HealthStream 2.56 -0.94 -26.8% -52.3% N/A 49.9
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Content/Comm. Ave. -0.8%
Either “Gen i” content network Snowball.com is merely bouncing off its all-time low closing price of $2.06 set on Aug. 2, or investors are re-thinking the company’s quarterly report, which showed reduced losses. I vote for the former. Here’s a new strategy: When releasing your quarterly report, bury the amount of your net losses in the middle of the press release. That’s what Salon.com did, which is weird since the net loss was drastically reduced from the year-ago quarter. Either way, SALN gets a bounce. Healthcare industry e-learning software provider HealthStream reports wider Q2 losses. CareerBuilder nearly doubled in price on July 17 after newspaper publishers Knight Ridder and Tribune Co. said they would buy the job search site. Since then it’s gone nowhere, but CBDR is the top gainer for the month, and the only stock to reach triple digits.
Barring unforeseen circumstances, I will foreswear any further comment on the sad fate of Dr. Doomed. What more needs to be said?
E-TAILERS
8/9 7-Day 7-Day 1-Month YTD Market
Company $ Close $Change %Change %Change Cap
GDEN Garden.com 2.50 0.69 37.9% 21.2% -71.3% 44.1
BFLY Bluefly 2.56 0.56 28.1% -11.8% -75.2% 12.6
EBKR Ebookers.com 9.25 1.75 23.3% 52.6% -46.7% 157.5
COOL Cyberian Outpost 4.00 0.69 20.8% -14.7% -59.8% 113.9
BNBN Barnes&Noble.com 4.50 0.66 17.1% -30.1% -68.4% 656.3
INSW InsWeb 1.56 0.16 11.1% -30.5% -93.9% 54.9
TMCS Ticketmaster 22.75 2.19 10.6% 42.2% -41.0% 2.0B
LMIN Lastminute.com 11.75 0.69 6.2% -23.0% N/A 353.3
BGST BigStar 0.72 0.03 4.6% -32.4% -90.7% 7.3
PCLN priceline.com 25.63 0.81 3.3% -28.1% -46.0% 4.4B
EFTD FTD.COM 2.19 0.06 2.9% -2.8% -58.4% 103.5
EGGS Egghead.com 2.31 0.06 2.8% 7.3% -85.7% 93.2
EBAY eBay 49.94 1.06 2.2% -5.1% -20.4% 13.4B
DSCM Drugstore.com 5.91 0.09 1.6% -23.2% -83.7% 308.1
AMZN Amazon.com 30.88 0.06 0.2% -11.9% -59.5% 11.0B
BYND Beyond.com 1.03 0.00 0.0% -27.5% -86.8% 39.2
VSHP VitaminShoppe.com 1.06 0.00 0.0% -43.3% -88.4% 21.6
CDNW CDnow 2.91 -0.02 -0.5% 14.8% -70.6% 95.3
CTIX Cheap Tickets 11.44 -0.25 -2.1% -12.9% -16.6% 276.8
SQST SciQuest.com 9.31 -0.31 -3.2% -19.0% -88.3% 264.3
EMUS EMusic.com 1.78 -0.06 -3.4% -5.0% -82.7% 76.4
ALOY Alloy Online 10.50 -0.38 -3.4% -4.0% -33.5% 185.1
ETYS eToys 4.03 -0.16 -3.7% -29.1% -84.7% 490.1
EXPE Expedia 16.06 -0.69 -4.1% -19.4% -54.2% 712.1
ROOM Hotel Reservations 32.13 -1.75 -5.2% -13.8% N/A 1.8B
FASH Fashionmall.com 1.94 -0.13 -6.1% -12.0% -56.4% 14.5
SFTY eSAFETYWORLD 1.94 -0.13 -6.1% -13.9% N/A 5.8
VSTY Varsity Group 0.91 -0.06 -6.4% -37.0% N/A 14.2
TIXX Tickets.com 2.13 -0.16 -6.8% -28.4% -85.2% 123.8
ADBL Audible 1.94 -0.16 -7.5% -53.7% -87.1% 53.0
VUSA Value America 0.72 -0.06 -8.0% -14.8% -85.8% 32.7
WBVN Webvan Group 4.77 -0.42 -8.1% -39.5% -71.2% 1.6B
HOMG HomeGrocer.com 4.69 -0.44 -8.5% -29.2% N/A 600.2
AHWY audiohighway.com 1.81 -0.19 -9.4% -43.1% -78.9% 11.6
AMEN Crosswalk.com 2.00 -0.25 -11.1% -18.0% -61.1% 15.4
ASFD Ashford.com 2.94 -0.38 -11.3% N/A -73.4% 132.1
PPOD Peapod 2.03 -0.34 -14.5% -36.3% -76.5% 36.5
HITS Musicmaker.com 1.00 -0.19 -15.8% -40.8% -83.0% 33.1
PLRX PlanetRx.com 0.72 -0.16 -17.9% -28.1% -95.1% 37.2
FATB Fatbrain.com 4.00 -1.00 -20.0% -41.8% -84.1% 52.0
ESTM E-Stamp 1.06 -0.28 -20.9% -38.2% -95.2% 41.6
BUYX BUY.COM 3.06 -0.81 -21.0% -38.7% N/A 403.1
SKDS SmarterKids.com 1.41 -0.41 -22.4% -26.2% -80.7% 28.8
IPET Pets.com 1.06 -0.38 -26.1% -39.3% N/A 31.4
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E-tailers Ave. -2.3%
Barring unforeseen circumstances, I will foreswear any further comment on the sad fate of the e-tailers. Alright, I guess I can’t do that for a whole sector. Garden.com rides strong revenue growth and higher gross margins to a 67% increase on Tuesday and Wednesday. Of course, the company lost $14.5 million in the quarter, and the two-thirds stock price jump totals $1 per share, but dammit, this group needs a feel-good story. Fashion and home furnishings e-tailer Bluefly has hired Credit Suisse First Boston to “explore options”
(i.e. find a bu
yer). In the spirited race to become the first ‘Net company to lose 100% of its value and still keep trading, E-Stamp and PlanetRx.com have passed the critical 95% mark. Now this is just a theory, but I bet when a stock’s losses hit the 98% barrier, time travel is possible. We should know soon enough.
FINANCIAL SERVICES
8/9 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap
EGRP E*TRADE 15.44 1.50 10.8% -6.4% -41.0% 4.5B
ICGE Internet Capital 34.44 2.19 6.8% 6.4% -79.8% 9.1B
AMTD Ameritrade 13.63 0.69 5.3% 9.5% -37.3% 2.4B
CMGI CMGI 36.69 1.50 4.3% -15.5% -73.6% 10.8B
DIR DLJdirect 6.94 0.06 0.9% -3.5% -49.0% 712.1
NTBK Net.B@nk 11.44 0.00 0.0% -4.7% -38.3% 342.9
TREE LendingTree 7.00 -0.06 -0.9% -12.5% N/A 126.2
WITC Wit Soundview 8.00 -0.19 -2.3% -27.7% -53.1% 720.6
WEBS Web Street 2.22 -0.09 -4.1% -12.3% -82.1% 57.0
EELN E-LOAN 3.47 -0.28 -7.5% -24.0% -78.7% 146.1
LINE onlinetrading.com 4.25 -0.38 -8.1% -15.0% -61.0% 48.8
NXCD NextCard 7.50 -0.97 -11.4% -25.0% -74.1% 396.1
DVIN divine Interventures 7.00 -0.94 -11.8% -20.3% N/A 962.1
MDCM Mortgage.com 1.00 -0.16 -13.5% -31.9% -82.8% 44.3
ECMV E Com Ventures 1.25 -0.38 -23.1% -44.4% -63.1% 12.2
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Financial Services Ave. -3.6%
Between lower online trading volume, higher interest rates on loans and investor skepticism about incubator business models, this sector is dead in the water until further notice. Since plummeting from about $140 in early March to below $40 by mid-April, shares of venture firm Internet Capital Group have spent most days trading somewhere in the $30s. Its Q2 earnings report, released after the market closed on Thursday, isn’t likely to kick-start a run-up for ICGE, which is down 80% for the year. Sales soared nearly 600% to $453 million, but the net loss was $186.9 million, or 70 cents per share, versus year-ago losses of $11.2 million, or 6 cents per share. When a company (E Com Ventures) that is supposed to be an Internet venture firm tries to boost its stock with a press release touting July sales volume for its perfume store retail chain subsidiary – we’re talking real bricks ‘n’ mortar here, folks – you really have to ask what business they’re in.
E-COMMERCE ENABLERS
8/9 7-Day 7-Day 1-Month YTD Market
Company $ Close $Change %Change %Change Cap
EPAY Bottomline 28.56 8.81 44.6% -1.1% -20.8% 310.4
HCOM HomeCom 0.88 0.19 27.3% -6.7% -72.6% 7.2
SABA Saba Software 25.88 5.38 26.2% 45.8% N/A 1.1B
AGIL Agile Software 63.13 12.13 23.8% -15.8% -42.0% 2.9B
ARBA Ariba 135.31 20.50 17.9% 30.7% 52.2% 31.9B
ITWO i2 Tech. 139.25 19.69 16.5% 13.0% 42.5% 27.2B
OMKT Open Market 7.56 1.00 15.2% -36.6% -83.3% 349.9
CORI Corillian 10.98 1.23 12.7% -30.3% N/A 324.3
AWEB Autoweb.com 1.97 0.22 12.5% -1.6% -81.9% 57.9
IMPV ImproveNet 1.75 0.19 12.0% -20.0% N/A 29.3
ARTG Art Technology 93.38 9.81 11.7% -23.5% 45.4% 6.2B
QSFT Quest Software 52.44 4.69 9.8% -8.9% 2.6% 4.5B
PRTS PartsBase.com 5.63 0.50 9.8% -18.2% N/A 83.3
EPNY E.piphany 98.00 8.56 9.6% -18.1% -56.2% 4.4B
CMRC Commerce One 47.44 3.81 8.7% -8.6% -51.8% 7.4B
APNT AppNet
37.50 2.88 8.3% -8.1% -14.5% 1.3B
LQID Liquid Audio 6.44 0.31 5.1% -22.6% -75.5% 142.1
BBSW Broadbase 23.13 1.06 4.8% -32.0% -59.0% 1.1B
ELCO Elcom Int. 6.38 0.25 4.1% -5.6% -81.3% 195.8
OPUS Opus360 3.13 0.06 2.0% -21.9% N/A 156.5
ROWE Rowecom 4.06 0.03 0.8% -27.8% -91.1% 42.0
XCAR XCare.net 3.53 -0.03 -0.9% -34.3% N/A 57.3
PRVW Preview Systems 9.88 -0.13 -1.3% -14.1% -84.8% 167.1
PPRO PurchasePro.com 39.75 -0.63 -1.5% -3.6% -71.2% 1.3B
PCOR pcOrder.com 4.78 -0.09 -1.9% -29.2% -90.6% 80.5
QUOT Quotesmith.com 2.44 -0.06 -2.5% 18.2% -78.6% 46.9
CKCM Click Commerce 24.50 -0.94 -3.7% -23.0% N/A 913.4
NEOF Neoforma.com 3.25 -0.13 -3.7% -48.5% N/A 224.5
NETP Net Perceptions 11.25 -0.44 -3.7% -23.7% -73.3% 299.8
STCS Software Tech. 22.00 -0.88 -3.8% -27.9% N/A 1.5B
CYCH CyberCash 3.94 -0.19 -4.5% -33.7% -57.5% 97.6
TANN Tanning Tech. 17.00 -0.88 -4.9% 30.8% -71.2% 357.9
BVSN BroadVision 32.19 -1.88 -5.5% -19.0% -43.4% 8.0B
CYSV Cysive 19.81 -1.31 -6.2% -24.2% -45.1% 549.2
ABTL Autobytel.com 4.56 -0.31 -6.4% -31.8% -70.0% 92.2
PRSW Persistence 15.88 -1.13 -6.6% -17.5% -29.6% 309.7
SNHK Sunhawk.com 13.38 -1.00 -7.0% -4.5% N/A 40.2
FIRE FirePond 16.44 -1.38 -7.7% -55.6% N/A 583.4
GSPT Global Sports 7.38 -0.63 -7.8% -4.8% -41.4% 160.1
ORCC Online Resources 5.75 -0.50 -8.0% -4.2% -65.5% 68.2
SLTC Selectica 52.13 -5.56 -9.6% -30.5% N/A 1.9B
ONVI Onvia.com 7.06 -0.81 -10.3% -0.4% N/A 568.7
DGIN Digital Insight 25.50 -3.00 -10.5% -13.6% -30.1% 683.4
ASWX Active Software 49.44 -6.25 -11.2% -40.4% -46.4% 1.3B
FAIM FairMarket 4.19 -0.53 -11.3% -20.2% N/A 117.8
INTW InterWorld 18.00 -2.50 -12.2% -32.6% -79.0% 512.6
WEBM webMethods 94.63 -14.38 -13.2% -44.0% N/A 3.1B
IMNY I-Many 12.69 -2.00 -13.6% N/A N/A 390.6
DRIV Digital River 5.50 -0.88 -13.7% -31.8% -83.5% 120.1
RETK Retek 26.44 -5.44 -17.1% -14.9% -64.9% 1.2B
BTBC b2bstores.com 1.50 -0.31 -17.2% -22.6% N/A 12.9
CLIC Calico Commerce 7.00 -1.50 -17.6% -52.9% -86.8% 244.8
CYBS CyberSource 7.00 -1.50 -17.6% -58.8% -86.5% 182.0
BRNC Braun Consulting 16.38 -3.56 -17.9% -30.7% -77.2% 326.8
USIT U.S. Interactive 10.00 -2.19 -17.9% -26.9% -76.8% 265.2
ITRA Intraware 5.94 -1.94 -24.6% -55.5% -92.6% 155.7
PFSW PFSweb 2.41 -0.84 -26.0% -46.5% -93.6% 43.0
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E-commerce Enablers Ave. -1.2%
Early last year billing, payment and banking software vendor Bottomline Technologies was attracting a bit of attention from analysts and investors who saw it as a promising early player in the e-commerce market. Then it was buried under an avalanche of new competitors, many of which launched subsequent glitzy IPOs. Well,
EPAY hardly is back – shares are down 21% for the year and 44% from early April’s high of $51.33 – but it does top the sector for this week and released earnings on Wednesday which show a second consecutive quarter of profit and increasing gross margins, if not scintillating sales growth. Note to fulfillment services
company PFSweb: When quarterly revenue growth is only 44%, don’t mention it in the headline of your press release.
SECURITY
8/9 7-Day 7-Day 1-Month YTD Market
Company $Close $Ch
ange %Change %Change Cap
NSSI Network-1 8.56 1.75 25.7% 61.2% -21.0% 52.6
CHKP Check Point 128.81 15.63 13.8% 11.2% 158.6% 19.8B
WGRD WatchGuard 56.50 3.38 6.4% -14.4% 86.3% 1.3B
RSAS RSA Security 64.13 2.31 3.7% -13.4% -17.5% 2.5B
PILT Pilot Network 12.25 0.25 2.1% -23.7% -49.1% 184.7
AXNT AXENT 25.25 -0.13 -0.5% 6.3% 20.0% 727.4
ISSX Internet Security 64.75 -1.13 -1.7% -34.6% -9.2% 2.7B
ITRU InterTrust 15.38 -0.38 -2.4% -25.0% -73.9% 1.3B
VONE V-ONE 3.13 -0.13 -3.8% -29.1% -46.9% 64.5
ENTU Entrust 25.75 -1.38 -5.1% -9.6% -57.1% 1.4B
LTNX Litronic 5.50 -0.63 -10.2% -31.3% -31.4% 54.3
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Security Ave. +2.5%
After finishing below $5 per share for the first time this year in late July, Network-1 Security Solutions has gained 85%. Given the quarterly report issued Thursday, it’s hard to see why any investor would get excited about NSSI. Quarterly sales were $352,000, while net loss reached $2.7 million, or 44 cents per share. With an anemic market cap, NSSI is buyout bait. Firewall market vendor Check Point Software continues to be one of the half-dozen top performers this year among ‘Net stocks.
PERFORMANCE SOFTWARE
8/9 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap
SWCM Software.com 142.44 44.06 44.8% 15.8% 48.0% 6.8B
PKSI Primus Knowledge 28.13 8.17 41.0% -45.9% -38.1% 496.5
NTGX net.Genesis 12.38 3.38 37.5% -30.0% N/A 260.6
PRSF Portal Software 60.06 12.94 27.5% -10.9% 16.5% 9.7B
SGNT Sagent Tech. 12.50 2.63 26.6% 4.2% -58.3% 352.7
EMBT Embarcadero 37.00 7.50 25.4% 26.5% N/A 973.8
EXTN Extensity 24.25 4.50 22.8% -22.9% N/A 572.8
DGV Digital Lava 6.31 1.12 21.6% 7.5% -10.0% 29.5
PASW PASW 3.47 0.59 20.7% 42.3% -39.2% 15.6
TIBX Tibco Software 116.41 15.91 15.8% -0.8% 127.7% 22.1B
FVCX FVC.com 5.50 0.69 14.3% -20.4% -53.1% 94.6
SPRT Support.com 32.50 3.75 13.0% N/A N/A 1.1B
SONE S1 Corp. 17.13 1.63 10.5% -23.9% -78.1% 928.0
VOCL VocalTec 20.25 1.56 8.4% -14.7% 20.6% 244.9
IWOV Interwoven 73.00 5.50 8.1% -2.1% 19.8% 3.5B
WEBT WebTrends 31.25 2.19 7.5% -19.7% -23.0% 813.7
RNWK RealNetworks 40.56 2.75 7.3% -13.2% -32.7% 6.3B
RWAV Rogue Wave 6.38 0.38 6.3% 13.3% -20.5% 68.9
BLSW Bluestone 20.00 1.06 5.6% -22.3% -82.7% 408.1
NESY NEON Systems 12.00 0.63 5.5% -30.2% -69.5% 113.1
OTEX Open Text 21.69 1.13 5.5% 19.2% 20.2% 437.7
IMAN iManage 9.88 0.50 5.3% -13.2% -69.3% 216.9
CWLD CrossWorlds 17.38 0.56 3.3% -3.8% N/A 431.2
RHAT Red Hat 20.06 0.63 3.2% -13.0% -81.1% 3.1B
OTGS OTG Software 34.00 1.00 3.0% -13.0% N/A 866.7
NSPK NetSpeak 8.75 0.25 2.9% -7.3% -58.9% 124.1
ALLR Allaire 32.06 0.75 2.4% -15.9% -56.3% 866.9
VIGN Vignette 35.88 0.75 2.1% -22.2% -34.1% 6.9B
EPRS Eprise 19.44 0.13 0.6% 5.4% N/A 488.2
SQSW Sequoia Software 11.50 0.06 0.5% -28.1% N/A 342.1
TMNT Telemate.Net 2.16 0.00 0.0% -21.6% -86.8% 16.7
NTOP Net2Phone 26.63 0.00 0.0% -16.6% -42.2% 1.5B
CTRA Centra Software 7.38 -0.03 -0.4% -21.3% N/A 178.0
SSSW SilverStream 28.50
-0.63 -2.1% -48.2% -76.1% 577.2
MONE MatrixOne 46.50 -1.50 -3.1% 6.9% N/A 1.9B
WAVO WAVO 0.63 -0.03 -4.8% N/A -83.9% 18.5
INSO Inso Corp. 5.44 -0.31 -5.4% -7.4% -83.2% 91.8
VMDC VantageMed 2.22 -0.16 -6.6% -34.3% N/A 19.1
BWEB BackWeb 17.50 -1.25 -6.7% -26.2% -58.6% 650.2
IPIX Internet Pict. 9.19 -0.81 -8.1% -41.2% -44.7% 542.8
GTHR GetThere 9.00 -1.00 -10.0% -17.2% -77.7% 300.8
DTEC Delano Tech. 10.00 -1.38 -12.1% -15.8% N/A 301.4
LBRT Liberate 19.63 -2.75 -12.3% -20.7% -84.8% 1.8B
COBT Cobalt Networks 39.94 -6.44 -13.9% -26.0% -63.2% 1.1B
VIAD Viador 8.63 -1.50 -14.8% -47.9% -79.7% 144.1
LOUD Loudeye 13.06 -2.69 -17.1% -27.7% N/A 480.6
CLRN Clarent 32.00 -8.00 -20.0% -61.3% -58.9% 1.0B
VATA Versata 22.94 -6.94 -23.2% -40.8% N/A 913.0
WBSN Websense 14.25 -5.63 -28.3% -49.3% N/A 278.0
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Performance Software Ave. +4.3%
Software.com was headed for a decent week even before its announced merger with Phone.com, but after climbing 32% on Wednesday following news of the deal, SWCM ends up with the second-best performance of all ‘Net stocks. Likewise, the stock’s YTD increase of 11% through Tuesday placed it near the bottom of the 30 or so ‘Net tickers that have gained for the year. By Thursday, after it had climbed another 12% to close at $159.75, SWCM owned the No. 11 YTD slot with a 66% gain. After hitting its lowest closing price in nearly a year on Aug. 2, Primus Knowledge Solutions rebounds all the way onto the list of top weekly performers. Employee spy software maker Websense is down 69% since going public in late March. This week it’s the
second-biggest loser on the board. Shares fell for 10 straight sessions after WBSN released Q2 earnings showing a near-doubling of revenue and declining losses.
INTERNET SERVICES
8/9 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap
ETIN Etinuum 4.13 1.00 32.0% -2.9% N/A 74.2
CONV Convergent 4.13 0.81 24.5% -42.6% -74.1% 120.3
ITXC ITXC Corp. 23.50 4.50 23.7% -35.5% -30.3% 904.3
ECRU E-Cruiter.com 3.63 0.63 20.8% -9.4% -49.2% 26.8
EXDS Exodus 54.06 8.88 19.6% 28.9% 21.5% 22.3B
MDLI MedicaLogic 5.88 0.75 14.6% -12.2% -72.1% 234.6
SAPE Sapient 137.50 16.69 13.8% 29.8% -2.7% 8.1B
NTWO N2H2 3.41 0.41 13.5% -24.3% -85.5% 76.5
IBAS iBasis 21.00 2.25 12.0% -45.3% -27.1% 712.4
CPTH Critical Path 56.00 5.50 10.9% -5.9% -40.8% 3.5B
STMP Stamps.com 5.00 0.44 9.6% -16.9% -88.0% 244.3
KEYN Keynote Systems 36.13 2.38 7.0% -54.8% -51.1% 966.0
MRBA Marimba 19.06 1.06 5.9% 10.9% -58.7% 444.3
DIGX Digex Inc. 70.94 3.19 4.7% -6.3% 2.9% 4.5B
HOTJ HotJobs.com 16.13 0.50 3.2% 9.8% -63.2% 513.8
KANA Kana Comm. 32.94 0.94 2.9% -49.6% -67.9% 3.0B
WNET WHEREVER.net 2.56 0.06 2.5% -34.9% N/A 65.4
FUSN Fusion Networks 1.47 0.03 2.2% 4.5% N/A 40.3
VRSN VeriSign 145.75 2.31 1.6% -18.0% -23.8% 28.3B
BWAY Breakaway Sol. 26.56 0.31 1.2% -3.4% -27.4% 937.2
NAVI NaviSite 42.63 0.38 0.9% 2.7% -15.0% 2.4B
WQNI WorldQuest 5.03 0.03 0.6% -16.2% N/A 32.1
CRIO Corio 15.00 0.06 0.4% N/A N/A 722.1
CLAI Claimsnet.com 2.
06 0.00 0.0% -29.8% -79.4% 16.1
CHRD Chordiant 11.81 -0.06 -0.5% -21.9% N/A 433.3
NETZ Netzee 5.63 -0.13 -2.2% -26.2% -66.2% 122.1
LIOX Lionbridge 7.75 -0.25 -3.1% -15.7% -57.6% 195.6
NVDC Navidec 7.25 -0.25 -3.3% -15.9% -39.7% 80.2
ILND Interland 8.06 -0.31 -3.7% N/A N/A 374.6
VCNT Vicinity 14.58 -0.61 -4.0% -25.2% N/A 409.4
INIT Interliant 14.50 -0.81 -5.3% -24.7% -44.4% 689.1
IPRT iPrint.com 4.34 -0.28 -6.1% -8.5% N/A 130.0
JPTR Jupiter Comm. 25.25 -1.75 -6.5% -2.9% -16.7% 390.3
LPSN LivePerson 8.44 -0.63 -6.9% -3.6% N/A 247.7
CTCH CommTouch 17.69 -1.44 -7.5% -43.3% -63.7% 267.4
EGAN eGain 7.22 -0.66 -8.3% -50.2% -80.9% 213.7
SKIL SkillSoft 12.38 -1.13 -8.3% -8.3% N/A 163.8
JFAX JFAX.COM 2.03 -0.19 -8.4% 18.2% -69.8% 73.3
CRFH Crayfish Co. 5.38 -0.50 -8.5% -14.9% N/A 273.5
LFMN Lifeminders 18.25 -1.75 -8.8% -17.0% -68.5% 431.6
MAIL Mail.com 7.38 -0.75 -9.2% -13.9% -60.8% 418.9
CAVN Cavion Inc 5.13 -0.56 -9.9% -44.2% -34.0% 25.4
HLTH Healtheon/WebMD 11.88 -1.31 -10.0% -24.9% -68.4% 2.2B
USIX USinternetworking 13.38 -1.63 -10.8% -23.0% -71.4% 1.3B
EGRT Egreetings Network 1.38 -0.19 -12.0% -18.5% -86.5% 48.1
EVOK Evoke Comm. 7.00 -1.00 -12.5% N/A N/A 327.1
SVVS Savvis Comm. 9.75 -1.50 -13.3% -10.9% N/A 905.7
HHNT HeadHunter.NET 6.31 -1.19 -15.8% -20.5% -49.9% 68.9
ACRU Accrue Software 20.75 -4.25 -17.0% -35.3% -61.8% 571.9
SRCH US SEARCH.com 1.81 -0.44 -19.4% -38.3% -75.9% 32.5
RCOM Register.com 17.38 -4.94 -22.1% -51.2% N/A 543.5
EFAX eFax.com 0.41 -0.12 -22.6% -64.3% -94.7% 5.4
DRTN Data Return 18.75 -6.13 -24.6% -48.1% -65.0% 665.6
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Internet Services Ave. -1.2%
Customer relation management services specialist Etinuum dipped below $4 per share after announcing growing Q2 losses on July 27. Now it’s on the upside, but still down about two-thirds from its first-day close in late March. Convergent Communications announces Q2 losses of $78.1 million, or $2.79 per share, on Aug. 2. In what appears to be a successful bid to mollify investors, the company also says it will cut 15% of its workforce. Growing losses announced on Aug. 2 send Data Return tumbling to the basement. eFax.com reports
an impressive net profit of 41 cents per share – oops, sorry, that’s how much EFAX shares now cost.
ADVERTISING/MARKETING
8/9 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap
FSHP FreeShop.com 4.06 0.56 16.1% -30.1% -91.6% 63.6
TFSM 24/7 Media 11.25 1.25 12.5% -18.9% -80.0% 297.1
HPOL Harris Interactive 4.00 0.44 12.3% -11.1% -69.5% 129.2
BFRE Be Free 5.13 0.53 11.6% -37.6% -85.8% 331.8
PRME Prime Response 6.88 0.63 10.0% -17.3% N/A 142.0
CSAV coolsavings.com 3.63 0.25 7.4% -25.6% N/A 140.2
NCNT Netcentives 11.75 0.69 6.2% -36.1% -81.2% 487.9
APLN @Plan.Inc 5.75 0.19 3.4% -6.1% -41.9% 64.8
CGLD CyberGold 6.38 0.00 0.0% -18.4% -64.0% 138.5
MPLX Mediaplex 6.88 -0.06 -0.9% -63.3% -89.1% 231.4
DCLK DoubleClick 34.31 -0.69 -2.0% 8.9% -72.9% 4.2B
ENGA Engage 8.13 -0.19 -2.3% -33.7% -73.0% 1.5B
MYPT MyPoints.com 13.03 -0.47 -3.5% -21.0% -82.4% 379.6
VCLK ValueClick
10.25 -0.38 -3.5% 27.6% N/A 286.6
NTCR NetCreations 26.47 -0.97 -3.5% -37.4% -40.0% 410.1
MMXI Media Metrix 26.88 -2.13 -7.3% -4.2% -25.0% 533.2
DIGI Digital Impact 12.03 -1.09 -8.3% -9.6% -76.1% 296.7
NTRT NetRatings 18.38 -1.75 -8.7% -36.4% -61.9% 592.1
AVEA Avenue A 8.06 -1.44 -15.1% -5.1% N/A 468.6
CBLT Cobalt Group 5.25 -0.94 -15.2% -14.3% -44.1% 90.5
LNTY L90 6.75 -1.25 -15.6% -28.0% N/A 148.4
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Advertising/Marketing Ave. -0.3%
The company with the worst YTD mark of all in this sector takes a turn at the top this week. FreeShop.com gets a bump from a stock buyback program that allows the company to take up to 10% of its outstanding
shares. That modest gain by 24/7 Media was wiped out Thursday after the company reported widening quarterly losses. None of the stocks in this group is up this year, and only two – ValueClick and DoubleClick – have gained in the past month. Since its July 19 quarterly announcement – growing losses, of course – advertising
technology player Mediaplex is down 67%. This week MPLX slows the freefall.
CONSULTANTS/DESIGNERS
8/9 7-Day 7-Day 1-Month YTD Market
Company $Close Change %Change %Change Cap
PRFT Perficient 12.38 2.00 19.3% 2.1% -3.2% 75.1
LUMT Luminant Worldwide 8.31 0.88 11.8% 17.7% -81.8% 219.3
PXCM Proxicom 42.75 2.38 5.9% -20.4% -31.4% 2.4B
IISX Integrated Info. 7.00 0.19 2.8% -13.2% N/A 143.2
MMPT Modem Media 12.44 0.19 1.5% -4.3% -64.7% 302.7
ACOM AGENCY.COM 21.19 0.19 0.9% 34.0% -58.6% 747.8
GENI GenesisIntermedia 15.06 -0.38 -2.4% -2.8% 158.5% 81.6
OGNC Organic 8.00 -0.25 -3.0% -21.0% N/A 702.1
RAZF Razorfish 16.63 -0.81 -4.7% -9.2% -65.1% 1.5B
VIAN Viant Corp. 31.00 -1.63 -5.0% -11.7% -37.5% 1.5B
MRCH MarchFirst 19.81 -1.06 -5.1% -7.3% -63.1% 2.9B
INFT Inforte Corp. 40.63 -2.44 -5.7% -26.1% N/A 503.8
PECS PEC Solutions 8.31 -0.75 -8.3% -10.1% N/A 184.7
SCNT Scient Corp. 43.00 -4.97 -10.4% -3.1% -50.4% 3.1B
IIXL iXL Enterprises 12.69 -2.75 -17.8% -16.8% -77.2% 949.0
DTAS Digitas 18.69 -4.06 -17.9% -8.3% N/A 1.1B
LNTE Lante Corp. 12.75 -3.19 -20.0% -39.3% N/A 502.4
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Consultants/Designers Ave. -3.4%
Perficient climbs back from its lowest trading levels since last November to lead the sector. But with the lowest market cap in the group by far, PRFT isn’t exactly a long-term play. GenesisIntermedia.com may have one of the best YTD gains among all Internet stocks, but shares have gone nowhere since April, closing every day between $15 and $17. Now GENI is threatening to fall below $15. The dream may be over. Lante is down 48% since July 25, when it reported a tripling of revenue and declining losses for the quarter.
SPEED/BANDWIDTH
8/9 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap
RAMP Ramp Networks 6.63 1.88 39.5% -40.1% -56.7% 140.9
JNPR Juniper Networks 165.69 38.69 30.5% 9.1% 191.7% 52.0B
SONS Sonus Networks 228.00 50.00 28.1% 13.0% N/A 13.8B
SCMR Sycamore Networks 134.06 24.81 22.7% 8.9% 30.3% 32.8B
TUTS Tut Systems 101.25 14.63 16.9% 53.0% 88.4% 1.6B
PKT
R Packeteer 45.19 5.38 13.5% 45.8% -36.5% 1.2B
CFLO CacheFlow 72.50 8.56 13.4% -1.4% -44.7% 2.8B
CSCO Cisco Systems 67.81 6.88 11.3% 6.2% 26.3% 476.3B
CAIS CAIS Internet 9.56 0.94 10.9% -21.1% -73.1% 219.9
ATON Alteon WebSystems 141.75 13.75 10.7% 9.8% 61.2% 5.9B
BRCM Broadcom 234.63 19.19 8.9% -0.9% 71.9% 50.5B
HSAC High Speed Access 5.00 0.28 6.0% -17.1% -71.7% 278.3
TERN Terayon Comm. 56.25 2.94 5.5% -23.7% 78.7% 3.5B
FFIV F5 Networks 45.50 1.81 4.1% -0.4% -60.2% 977.7
ATHM At Home 14.13 0.56 4.1% -23.1% -67.1% 5.6B
AKAM Akamai 71.38 2.75 4.0% -37.1% -78.3% 7.6B
INKT Inktomi 104.56 2.56 2.5% -18.0% 17.5% 11.6B
NENG Network Engines 26.38 0.00 0.0% N/A N/A 868.4
COVD Covad Comm. 16.13 -0.31 -1.9% -17.3% -56.9% 2.4B
WGAT WorldGate 20.63 -0.88 -4.1% 1.9% -56.7% 444.4
RDWR Radware 29.13 -1.25 -4.1% 1.7% -32.6% 450.6
IBEM iBEAM 10.50 -0.75 -6.7% -41.3% N/A 1.1B
INAP InterNAP 29.38 -2.25 -7.1% -22.7% -66.1% 3.9B
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Speed/Bandwidth Ave. +9.1%
It’s a network bonanza at the top of the sector this week, led by Ramp, Juniper, Sonus and Sycamore. Ramp is merely bouncing off new lows and shaking off the effects of a quarterly report showing heavy losses. After cooling off slightly last week, Juniper Networks roars back to sneak onto the list of top 10 gainers. For the year, JNPR remains the No. 2 ‘Net stock, nearly tripling in price since Dec. 31. IP voice infrastructure provider Sonus Networks finished trading Monday at $261.13, its highest closing price since going public
on May 25. By Thursday, SONS was down to $198.50. That’s still nearly four times the first-day closing price of $50.50. With only a handful of minor losers, the Speed/Bandwidth group easily leads all other sectors for the week.
ISPs/ACCESS PROVIDERS
8/9 7-Day 7-Day 1-Month YTD Market
Company $Close $Change %Change %Change Cap
PNVN PNV 2.09 0.72 52.3% 59.5% -74.5% 33.4
GIGM GigaMedia 9.25 1.73 23.1% -25.6% N/A 451.7
DDDC Deltathree.com 8.25 1.13 15.8% -35.0% -68.0% 236.9
ZIPL Ziplink 5.25 0.63 13.5% 2.4% -58.1% 67.9
PCNTF Pacific Internet 14.56 1.19 8.9% -26.7% -69.0% 184.1
PSIX PSINet 17.39 1.39 8.7% -22.3% -43.8% 2.7B
RMII RMI.Net 2.81 0.19 7.1% -10.0% -66.2% 58.7
VRIO Verio 53.50 2.50 4.9% 0.2% 15.6% 4.3B
IDTC IDT Corp. 39.00 1.13 3.0% 4.3% 106.1% 1.4B
HANA Hanaro Telecom 5.59 0.09 1.7% -14.8% N/A 1.5B
ONEM OneMain.com 9.63 0.06 0.7% -7.8% -36.0% 241.4
NZRO NetZero 5.13 0.03 0.6% -6.8% -81.0% 537.3
ISLD Digital Island 26.88 0.06 0.2% -35.7% -71.8% 1.8B
ELNK EarthLink 11.06 -0.06 -0.6% -19.2% -74.0% 1.3B
BIZZ Biznessonline.com 3.56 -0.06 -1.7% -27.8% -49.2% 32.2
QSCG QS Communications 20.50 -0.50 -2.4% 21.5% N/A 1.0B
KOREA Korea Thrunet 9.75 -0.31 -3.1% -35.8% -85.7% 701.6
IGLD Internet Gold 6.75 -0.25 -3.6% -29.9% -69.7% 124.4
FREE Freeserve 43.25 -2.25 -4.9% -8.0% -53.1% 5.0B
TRRA Terra Networks 33.56 -2.00 -5.6% 1.5% -38.8% 9.2B
DSLN DSL.net 3.66 -0.22 -5.6% -59.7% -74.7% 238.5
VOYN Voyager.net 6.88 -0.50 -6.8% -25.5% -25.4% 217.6
GEEK Internet America 4.00 -0.31 -7.2% -1
3.5% -66.2% 38.8
FSST FASTNET 2.00 -0.19 -8.6% -33.3% N/A 30.0
TLCT Telocity Delaware 3.25 -0.31 -8.8% -23.0% N/A 275.8
NPLI Netpliance 6.97 -0.72 -9.3% 17.7% N/A 420.6
PRGY Prodigy 6.81 -0.75 -9.9% -24.8% -64.9% 440.7
ATHY AppliedTheory 8.38 -1.09 -11.6% -35.6% -69.9% 195.6
IZAP ZapME! 2.91 -0.41 -12.3% -5.1% -66.4% 127.9
IIJI Internet/Japan 40.50 -6.88 -14.5% -26.4% -58.4% 1.8B
VNWI VIA NET.WORKS 13.00 -2.44 -15.8% -15.1% N/A 775.3
JWEB Juno Online 5.94 -1.25 -17.4% -47.2% -83.3% 229.8
LOAX Log On America 3.63 -1.44 -28.4% -34.1% -82.1% 30.2
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ISP/Access Provider Ave. -1.1%
Truck-stop access provider PNV gains more than 50% to lead all ‘Net tickers this week, yet remains nearly 75% down for the year. There’s no catalyst behind PNVN’s rise this week; shares are just bouncing off new, sub-$2 per share lows. The biggest loser across all sectors is Log On America, whose Q2 report released Wednesday
shows losses doubling from the first quarter (as in previous, not year-ago). Once touted by some as serious threats to America Online, free ISPs NetZero and Juno Online are down 81% and 83% for the YTD.
