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.
