Fireworks On Wall Street As Stocks Glow

Fireworks come early to the stock market as the Dow, NASDAQ and ISDEX move heaven bound. Still over 100 points off the April highs ISDEX is halfway back to those pre-correction levels. Today the 50-stock bellwether gains 1.67% to 564.95.

  • ONSALE (NASDAQ:ONSL) rockets 36% to $25.25 per share on speculation that (NASDAQ:AMZN) may acquire the surplus and personal auction service. I’ve covered ONSL since Jerry Kaplan and crew began the service and there’s a lot there for Amazon to inherit, not to mention Onsale’s deal with Yahoo to provide personal auctions. ONSL on a pure valuation basis looks cheap to me at less than 2x annualized sales, even after today’s run!
  • RealNetworks (NASDAQ:RNWK) inks a deal with Web TV (Microsoft) to allow Web TV viewers to view Real content. RNWK shares up 16% to $89 15/16 per share on 3x average volume.
  • 24/7 (NASDAQ:TFSM) adds more than 170 clients and $13 million in marketing booked via its new 24/7 Direct program, launched in April. While 24/7 doesn’t yet have the girth of rival DoubleClick (NASDAQ:DCLK) I think it looks to be building a substantial position regardless.

    "Fresh and provocative" -CBS Marketwatch, who
    named Steve Harmon one of the top Internet stock analysts and only
    independent one honored

    "I am a huge fan of Steve Harmon’s analysis"
    -Kleiner Perkins’ John Doerr

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