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Internet Market Close Report for 1998.02.09

Written By

Feb 9, 1998

1 minute read

ISDEX & Market Moves
Snapshot

	*09-Feb-98*	*% change*	*point change*
ISDEX Geometric Average	115.04	1.46%	1.65
ISDEX Price Weighted Composite	915.86	2.33%	20.86
NASDAQ	1,690.43	-0.23%	-3.92
DJIA	8,180.52	-0.11%	-8.97

AOL (NYSE:AOL) shares soar more than 12% to a new closing high of $110.438 after the leading online service announces key moves to: 1) raise unlimited monthly access by $2 to $21.95; 2) eliminate 500 Compuserve jobs as part of its acquisition and 3) reorganize much of the company to be run by former MTV guru Bob Pittman, who was promoted to president and chief operating officer. AOL/CompuServe now reports 13 million subscribers (11M AOL, 2M CSI).

CMG Info (NASDAQ:CMGI) gets a $10 million investment from Japan’s Sumitomo to pursue Internet opportunities in Japan. CMG’s @venture division holds investments in many Internet firms including Lycos (NASDAQ:LCOS) and GeoCities. Related note, Intel and Microsoft own just under 5% of CMGI shares each.

Security First Technologies (NASDAQ:SFNB) and M&I Data Services have signed up 11 financial institutions representing 19 banks using SFNB’s S1 banking software. SFNB says 17 of the top 100 U.S. financial institutions use its software.

Steve Harmon

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