ISDEX & Market Moves
Snapshot
| 22-Jan-98 | % change | point change | |
|---|---|---|---|
| ISDEX Average | 107.14 | -2.73% | -3.01 |
| ISDEX Composite | 855.31 | -2.69% | -23.69 |
| NASDAQ | 1,576.51 | -0.72% | -11.41 |
| DJIA | 7,730.88 | -0.81% | -63.52 |
- Netscape (NASDAQ:NSCP) decides to give away its browser and goes a step further by putting the source code on the Web for programmers to use and create new features for it. See ISR January 6 for our timely call to make the browser client free. Free at last, free at last, free at last. The new chant being heard around Netscape’s Mountain View CA headquarters.
- Earthlink (NASDAQ:ELNK) falls to $31 per share after Everen Securities moves the stock to “near-term market perform” from “outperform.” Everen reportedly bases its move on ELNK — which was trading north of $36 Jan. 21– was close to its $37 price per share target, inferring it must be overvalued. Ironically, a month ago Everen puts out a price target of $37 for ELNK and then when it nears this target it backtracks based on ELNK getting close to its target, which causes ELNK to tumble. Self-fulfilling and self-defeating prophecy?
- PSINet (NASDAQ:PSIX) turns down a $10 per share offer from USinternetworking which wanted to acquire 51% of PSIX. PSINet issued a statement that mentions the proposed deal interferes with another agreement with digital line and long-distance firm IXC to sell it 20% of PSIX in return for high-speed backbone services.
- Excite (NASDAQ:XCIT) will become the new content service for Prodigy as the former leading online service bows out of content altogether. Prodigy will become solely an access provider, leading its users to a default page set up and maintained by Excite and its channels.