Haircut 100? Internet Stocks Pause For Profit Taking

The recent run in Internet stocks appears to have either paused for second
wind or to wheeze a few minutes after a phenomenal jump beginning in early
March.


ISDEX, Internet Stock Index, is down slightly while even the broad
market shows signs of flatness.


Our latest number crunching:


Internet Stock Index Since March 10




























































































































































































































































































































































































































































































































ISDEX ®

 

17-Mar-98

% change

Point change

% change

Internet Stock Index

 

close

from

from

from

 

 

 

10-Mar-98

10-Mar-98

31-Dec-97

 

 

 

 

 

 

ISDEX Geometric Average

 

145.43

-1.2%

-1.73

45.6%

ISDEX Price Wtd. Composite

 

1,444.88

-4.4%

-66.98

30.5%

NASDAQ

 

1,779.30

1.8%

30.79

13.3%

DJIA

 

8,749.99

1.2%

106.87

10.6%

 

 

 

 

 

 

Verisign

VRSN

$44.34

34%

$11.28

217%

Broadband Technologies

BBTK

$7.94

27%

$1.69

92%

CyberCash

CYCH

$17.88

23%

$3.31

41%

Secure Computing

SCUR

$13.94

21%

$2.44

18%

CheckPoint Software

CHKPF

$41.75

19%

$6.75

2%

Network Solutions

NSOL

$27.50

19%

$4.31

110%

Concentric

CNCX

$18.75

15%

$2.50

111%

CheckFree

CKFR

$23.94

12%

$2.63

-11%

Cyberguard

CYBG

$8.63

11%

$0.88

53%

CKS Group

CKSG

$23.00

10%

$2.13

63%

PairGain

PAIR

$20.25

10%

$1.81

5%

Security Dynamics

SDTI

$38.44

9%

$3.31

8%

Doubleclick

DCLK

$35.00

9%

$2.94

106%

PSINet

PSIX

$9.88

9%

$0.81

93%

Versant Object Technologies

VSNT

$7.63

7%

$0.50

-45%

Network Associates

NETA

$70.19

6%

$4.25

33%

Open Market

OMKT

$18.91

5%

$0.88

96%

America Online

AOL

$64.00

4%

$2.50

41%

Axent

AXNT

$22.78

4%

$0.81

32%

RealNetworks

RNWK

$18.75

3%

$0.63

35%

Cylink

CYLK

$13.56

3%

$0.44

39%

Broadvision

BVSN

$16.88

2%

$0.38

160%

Spyglass

SPYG

$8.50

2%

$0.19

72%

Open Text

OTEXF

$20.13

2%

$0.38

50%

USWeb

USWB

$21.50

1%

$0.28

129%

Mecklermedia

MECK

$24.88

1%

$0.13

0%

Netscape

NSCP

$19.25

0%

-$0.06

-21%

IDT Corp

IDTC

$33.94

-2%

-$0.66

68%

WavePhore

WAVO

$9.72

-2%

-$0.22

4%

Intuit

INTU

$45.13

-3%

-$1.25

9%

Metricom

MCOM

$9.69

-3%

-$0.31

1%

N2K

NTKI

$24.44

-3%

-$0.88

67%

CDnow

CDNW

$23.69

-4%

-$0.88

48%

Earthlink Network

ELNK

$52.50

-4%

-$2.00

104%

Yahoo!

YHOO

$83.84

-4%

-$3.66

21%

NewsEdge

NEWZ

$12.88

-4%

-$0.50

-4%

CMG Info

CMGI

$55.19

-9%

-$5.56

82%

Onsale

ONSL

$31.63

-10%

-$3.38

76%

Mindspring

MSPG

$57.56

-10%

-$6.31

71%

Lycos

LCOS

$40.63

-10%

-$4.69

-2%

Security First Net Bank

SFNB

$9.50

-11%

-$1.13

31%

Infoseek

SEEK

$18.44

-11%

-$2.31

72%

Sportsline USA

SPLN

$26.53

-11%

-$3.41

147%

Excite

XCIT

$49.38

-12%

-$6.50

65%

E*TRADE

EGRP

$22.25

-13%

-$3.38

-3%

VocalTec

VOCLF

$20.50

-14%

-$3.25

0%

Egghead.com

EGGS

$11.00

-15%

-$1.88

69%

CNET

CNWK

$33.00

-16%

-$6.06

12%

Amazon.Com

AMZN

$79.88

-35%

-$43.13

-12%

@Home Network

ATHM

$35.44

-57%

-$47.67

-41%

TOTAL

 

1,444.88

-6%

-90.92

31%

SIMPLE AVERAGE

 

28.90

-6%

-1.82

30.5%

 

 

 

 

 

 

new ISDEX stocks in red

 

 

 

 

 


  • 03.17.98: Mecklermedia (NASDAQ:MECK) reports its fifth annual Spring
    Internet World ’98 trade show held last week at the Los Angeles Convention
    Center drew about 50,000 Internet-focused professionals as 600 companies
    paid for and filled 300,000 square feet of exhibit and meeting space to
    showcase the latest Internet business solutions.


  • 03.16.98: Yahoo! (NASDAQ:YHOO) and MCI formally launch Yahoo! Online to
    compete with AOL. Basically this looks like InternetMCI only with a pretty
    face on it. Recall the MCI-News Corp disaster a few years ago. We’ll see if
    MCI can speak the language here and if Yahoo! has enough bodies and time to
    do this.


    If it wants to be AOL, remember that AOL posted losses for a decade before
    finally turning about 6 million dues paying subscribers into positive
    earnings–and the company kept the access revenue for itself–which is still
    majority of AOL’s revenue. Yahoo! Online sees MCI getting the access
    dollars, and Yahoo! getting ad sales on pages. Our take: not an AOL killer
    the way this is set up, at least not for Yahoo!


  • 03.13.98: CMG Information (NASDAQ:CMGI) reports net revenues up 13% to
    $17.8 million for its second quarter ended January 31. That doesn’t include
    the impact of deconsolidating its position in Lycos (NASDAQ:LCOS).
    CMG bottom line sunk to a net loss of $5.8 million, or ($0.58) basic
    earnings per share vs. $0.28 EPS for the previous quarter ended October 31,
    1997.


    In related news, CMG acquires Accipiter which does Internet advertising
    management solutions, for $35 million in CMG shares. We estimate the deal
    at 7x – 10x sales, although details were not disclosed.


  • 03.11.98: PSINet (NASDAQ:PSIX) agrees to lease undersea fiber-optic cable
    from Global Crossing Ltd., which connects the U.S. and Europe. Term: 25
    years. Terms: undisclosed. PSI is slowly building a high-speed backbone.
    Perhaps Wall Street may slowly regain some enthusiasm for PSIX along the
    way.

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