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Earnings season being better than expected and losses
narrowing should have sent ISDEX higher the past week but it didn’t —
that’s because huge expectations had been built into the Internet stock
sector the first week of January.


Said another way, great expectations
realized are good but Wall Street wants fantasmal expectations. And that
means deals.Spinouts, IPOs, alliances.


That’s the fuel behind IDT Corp
(NASDAQ:IDTC) coming from obscurity. Yet IDTC shares found favor on rumors,
buzz, and genuine curiosity that its Net2Phone division may be more
valuable — and perhaps spun out — than other parts of IDT.


AltaVista also popped back into the Weblight with plans by Compaq to spin
it out from the motherboard into perhaps an IPO. Helping that along is a
deal AltaVista made with Microsoft that lands it real estate on MSN as the
search engine.
Tally ho:



















































































































































































































































































































































































































































































ISDEX ®

 

26-Jan-99

% change

Point change

% change

The Internet Stock Index

 

close

from

from

from

www.isdex.com

 

 

19-Jan-99

19-Jan-99

31-Dec-98

 

 

 

 

 

 

ISDEX

 

338.61

-5.2%

-18.39

18.1%

NASDAQ

 

2,433.41

1.0%

25.24

11.0%

DJIA

 

9,324.58

-0.3%

-30.64

1.6%

 

 

 

 

 

 

IDT Corp

IDTC

$14.44

20%

$2.38

-6%

Broadvision

BVSN

$41.63

10%

$3.63

30%

Yahoo!

YHOO

$351.25

9%

$28.25

48%

Doubleclick

DCLK

$93.50

6%

$5.56

110%

Verio

VRIO

$27.63

6%

$1.63

23%

Security First Technologies

SONE

$33.13

6%

$1.94

9%

VocalTec

VOCLF

$15.56

5%

$0.75

38%

Network Associates

NETA

$54.91

4%

$2.03

-17%

24/7 Media

TFSM

$37.00

3%

$1.25

32%

ISS Group

ISSX

$67.25

3%

$2.25

22%

America Online

AOL

$155.00

3%

$4.50

0%

Netscape

NSCP

$65.81

2%
$1.31
8%

RealNetworks

RNWK

$64.25

2%

$1.00

79%

Mindspring

MSPG

$102.88

1%

$1.38

68%

Broadcast.com

BCST

$138.75

1%

$1.38

81%

Cisco

CSCO

$107.13

1%

$0.75

15%

Axent

AXNT

$38.13

0%

$0.19

25%

Sportsline USA

SPLN

$33.38

0%

$0.13

114%

Broadcom

BRCM

$129.50

0%

-$0.50

7%

CDnow

CDNW

$21.50

-1%

-$0.31

19%

Lycos

LCOS

$110.38

-2%

-$2.56

99%

Concentric

CNCX

$37.25

-2%

-$0.88

12%

Earthlink Network

ELNK

$76.63

-3%

-$2.38

34%

PSINet

PSIX

$33.00

-4%

-$1.25

58%

eBay

EBAY

$220.88

-4%

-$9.00

-8%

@Home Network

ATHM

$109.88

-5%

-$5.50

48%

GeoCities

GCTY

$71.00

-5%

-$4.00

111%

Excite

XCIT
$101.38
-8%

-$8.63

141%

USWeb

USWB

$28.25

-8%

-$2.44

7%

Verisign

VRSN

$81.50

-8%

-$7.13

38%

N2K

NTKI

$15.00

-8%

-$1.31

15%

Onsale

ONSL

$45.50

-9%

-$4.75

14%

Infoseek

SEEK

$69.13

-10%

-$7.94

40%

Security Dynamics

SDTI

$25.88

-10%

-$3.00

13%

Egghead.com

EGGS

$20.00

-11%

-$2.38

-4%

Exodus

EXDS

$84.25

-11%

-$10.25

31%

E*TRADE

EGRP

$80.13

-11%

-$10.06

71%

CMG Info

CMGI

$91.63

-13%

-$13.38

72%

CheckPoint Software

CHKPF

$46.94

-15%

-$8.56

2%

Spyglass

SPYG

$15.13

-17%

-$3.00

-31%

Open Market

OMKT

$12.25

-17%

-$2.50

5%

Preview Travel

PTVL

$21.25

-17%

-$4.50

15%

Amazon.Com

AMZN

$115.09

-18%

-$24.72

7%

Inktomi

INKT

$129.81

-18%

-$28.19

0%

Beyond.com

BYND

$23.63

-19%

-$5.63

14%

Network Solutions

NSOL

$169.00

-19%

-$40.88

29%

CyberCash

CYCH

$16.38

-20%

-$4.00

9%

CNET

CNET

$80.13

-20%

-$19.63

56%

Open Text

OTEXF

$23.19

-23%

-$6.75

-5%

Cyberian Outpost

COOL

$24.25

-25%

-$8.25

-12%



The news and moves January 20 – January 26:



  • @Home (NASDAQ:ATHM) reports $19.2 million fourth quarter revenue, up 39
    percent vs. 4Q97. The net loss before cost of distribution agreements and
    merger
    and acquisition related costs for the fourth quarter was $7.6 million, or
    6 cents per share, compared to $9.7 million, or 8 cents per share a year ago.


    Cable Internet subs grow 58 percent to 331,000 vs. previous quarter and
    @Home service
    launched in 15 new markets, total markets equals 59. Short take: losses
    heavy. Long take: ATHM has $390 million cash. Remember, it took AOL 10
    years to be profitable and achieve critical mass. We don’t think that may
    be as long with @Home.



  • 24/7 (NASDAQ:TFSM) plans a follow-on offering, 4 million shares total; 2
    million from the company and 2 million from selling stockholders. Shares of
    the ad network firm climb $1.50 to $37.25 per share today. In addition,
    24/7 bought 60 percent of UK’s InterAd Holdings to be redubbed 24/7 Media
    Europe.



  • XOOM.com (NASDAQ:XMCM – news), posted $3.5 million 4Q revenue, up 50
    percent from the third quarter and 722 percent more than a year ago. Net
    loss for the direct e-commerce/etailer was $2.9
    million, or 29 cents a diluted share, excluding a $1.5 million nonrecurring,
    noncash charge for the issuance of warrants. That compares to a net loss of
    $3.1 million, or 35 cents per diluted share for the 3rd quarter of 1998, and a
    net loss of $500,000, or 9 cents per diluted share for the 4th quarter of
    1997.


    Annual revenue reached $8.3 million, up 889 percent from the year earlier
    with 1998 loss of $10.8 million, including a $1.5 million warrants charge.


    Excite (NASDAQ:XCIT) reports fourth-quarter revenue up 163 percent vs. 4Q97 to
    $54.4 million. That’s more revenue in one quarter than it posted for all of
    1997. Loss narrows including charges o

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