Eye Spy: Web Devices Set To Zoom?

Internet stocks rallied, paused for profit taking and showed a few
surprises as Spyglass, USWeb, OpenText and Earthlink topped the list of
movers and zoomers, proving that 1998 could be the year of the comeback for
many, and the moment of truth for others.


Ironically, Sportsline (NASDAQ:SPLN) came in last in the number crunching
here, just as its CBS Winter Olympics moment shines nightly for 1 billion
viewers worldwide. Logical explanation: the exposure was already discounted
into SPLN shares starting perhaps even way back in November when we were
the first to say that SPLN was one to watch.


Even after a haircut given by overzealous twitch-happy traders, SPLN may
continue to be one to keep an eye on this year and next. Stay tuned.


Stand by for our latest tally:


Ups, Downs & In Betweens












































































































































































































































































































































































ISDEX ®

Ticker

17-Feb-98

% change

Point change

% change

Internet Stock Index

symbol

close

from

from

from

 

 

 

10-Feb-98

10-Feb-98

31-Dec-97

 

 

 

 

 

 

ISDEX Geometric Average

 

124.22

4.6%

5.44

24.4%

ISDEX Price Wtd. Composite

 

952.08

2.5%

22.86

17.8%

NASDAQ

 

1,703.43

-0.3%

-5.61

8.5%

DJIA

 

8,398.50

1.2%

102.89

6.2%

 

 

 

 

 

 

Spyglass

SPYG

$ 6.80

23%

$1.27

38%

USWeb

USWB

$ 16.69

16%

$2.31

78%

Open Text

OTEXF

$ 13.88

16%

$1.88

4%

Earthlink Network

ELNK

$ 44.38

15%

$5.75

72%

Infoseek

SEEK

$ 13.53

12%

$1.41

26%

Open Market

OMKT

$ 15.00

8%

$1.13

56%

Forefront

FFGI

$ 10.56

8%

$0.75

35%

CheckPoint Software

CHKPF

$ 41.13

7%

$2.81

1%

Security First Net Bank

SFNB

$ 10.94

7%

$0.69

51%

@Home Network

ATHM

$ 27.75

6%

$1.63

10%

N2K

NTKI

$ 26.13

6%

$1.50

79%

Trusted Information Systems

TISX

$ 11.06

5%

$0.56

11%

CMG Info

CMGI

$ 41.38

5%

$1.88

37%

CNET

CNWK

$ 30.75

4%

$1.13

4%

Network Solutions

NSOL

$ 20.50

4%

$0.75

56%

Concentric

CNCX

$ 14.50

4%

$0.50

63%

America Online

AOL

$ 112.00

3%

$3.00

24%

PSINet

PSIX

$ 8.50

2%

$0.19

66%

Onsale

ONSL

$ 26.06

2%

$0.44

45%

Mecklermedia

MECK

$ 27.38

1%

$0.38

10%

RealNetworks

RNWK

$ 16.06

1%

$0.19

16%

CKS Group

CKSG

$ 18.56

1%

$0.19

31%

Lycos

LCOS

$ 41.63

1%

$0.25

1%

Netscape

NSCP

$ 21.06

0%

$0.06

-14%

VocalTec

VOCLF

$ 18.81

0%

-$0.06

-8%

Excite

XCIT

$ 43.75

-1%

-$0.25

46%

Yahoo!

YHOO

$ 64.25

-1%

-$0.38

-7%

Mindspring

MSPG

$ 47.88

-1%

-$0.38

42%

Versant Object Technologies

VSNT

$ 8.25

-1%

-$0.13

-40%

Security Dynamics

SDTI

$ 33.75

-3%

-$0.88

-6%

E*TRADE

EGRP

$ 26.00

-3%

-$0.75

13%

Amazon.Com

AMZN

$ 61.75

-3%

-$1.88

2%

CyberCash

CYCH

$ 12.63

-4%

-$0.50

0%

Sportsline USA

SPLN

$ 18.81

-12%

-$2.56

75%

TOTAL

 

933.27

2.8%

25.42

17.8%

SIMPLE AVERAGE

 

28.28

2.8%

0.77

17.8%



  • Feb 11: Earthlink Network (NASDAQ:ELNK) inks a multi-year bonanza deal with
    Sprint (NASDAQ:FON) buying 30% of the customer-focused Internet service
    provider for $45 per share. The agreement has many parts including
    distribution and promotion for Earthlink throughout Sprint’s telephone user
    base. Earthlink also gets Sprint’s 130,000 Internet subscribers.


    In related news from February 13, Earthlink (NASDAQ:ELNK) closes its loss
    gap and reports record 1997 revenue, up 144% to $79.2 million while its
    fourth quarter revenue is up 95% to $24 million. EarthLink posts a $29.9
    million annual loss for last year and 4Q97 loss of $6.6 million. Net losses
    per share for 4Q97 and year ending 1997 were $0.59 and $2.99, respectively,
    vs. 1996 losses per share of $4.50 and $1.17 4Q97.


  • Feb 12: ONSALE (NASDAQ:ONSL) reports record revenue for 1997 with gross
    merchandise sales of $115.9 million, up 277% vs. 1996. Revenues reach $89.0
    million vs. $14.3 million in 1996. Net loss for 1997 is $2.5 million, or
    $0.16 per share, vs. net income of $361,000, or $0.03 per share, in 1996.


    Fourth-quarter gross merchandise sales reach a record $41.1 million, up 27%
    vs. third quarter while 4Q97 revenue is $33.0 million, up 31% vs. 3Q97. Net
    loss for 4Q97 is $1.7 million, or $0.09 per share.


  • Feb 13: @Home (NASDAQ:ATHM) business access division, @Work, and Cox
    Communications (NYSE:COX) bundle up for [email protected] Internet to provide small
    and medium-sized businesses with high-speed access to the Internet via
    @Home Network, a hybrid fiber-coax cable based high-speed network. The
    service is available through Cox in Orange County, San Diego, and Phoenix.
    Maybe @Home should aim for more @Work after all? That’s where the speed is
    valued more, at least for now.


  • Feb 17: Spyglass’ (NASDAQ:SPYG) strategy of going after the embedded device
    market may begin to pay off as Nokia inks a deal to use Spyglass’ browser
    on digital TV boxes in Europe, bypassing Microsoft and Netscape as choices.
    The deal sends SPYG shares up 20% to $6.80 per share, still a long way off
    its 52-week high of more than $12 and further still from the glory days of
    1995 when SPYG traded north of $60.


    In our opinion, if devices continue to roll out, few have the experience
    that Spyglass does in making browsers for them. Microsoft and Netscape
    aimed at the broad market, not the thin one. Now they pay the price.

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