Haircut Today, Hippy Tomorrow for Market

The overall market takes a haircut as investors take cues from the Federal Reserve which indicates that it may raise interest rates in the near future if need be. The current ISDEX value is 572.93 with a change of -6.07(-1.05%).

  • Lycos (NASDAQ:LCOS) posts strong results with revenue up 132% to $35.2 million for the quarter. Loss reaches $1.02 million, or $0.02 per share. The Web guide firm, which untangled itself from a proposed merger with USA Networks, also announced it acquires a 9% stake in Web auctioneer FairMarket. Page views rise 20% to 60 million per day.
    Lycos tosses in a 2-for-1 stock split as well and I believe Lycos could be much better off now as it grows without the baggage of USA Networks. Bob Davis looks back on track.

  • eBay (NASDAQ:EBAY) acquires two firms, one a auto auctioneer Kruse International and the other a bill paying service. Wall Street says bad move, EBAY stock drops 4% to $189 9/16. That’s the trouble when your market cap is at this level, you almost have to acquire to maintain expectations.

    The problem in these two deals to me is that eBay’s model relies much on being hands off. Processing could be outsourced and shopped to multiple bidders while the same could be said for auto auctions–bring them all into eBay, don’t bet the ranch on one.

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