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Internet Market Close Report for 1998.04.01

Steve Harmon
By Steve Harmon

ISDEX & Market Moves
Snapshot


































 
01-Apr-98
% change
point change

ISDEX
156.07
2.80%
4.25

ISDEX Price Weighted Composite
1,578.91
3.62%
55.19

NASDAQ
1,847.66
0.65%
11.98

DJIA
8,868.32
0.78%
68.51

  • Search stocks soar on multi-million dollar deals announced by Lycos (NASDAQ:LCOS) and Excite (NASDAQ:XCIT) for commerce. Lycos’ deal is with CDnow, capping off a $30 million dealfest in many areas. Excite and software.net ink a multi-million deal. As we’ve said many times and say again–these may very well be the new networks (as in TV, radio–but Web). That’s way beyond search, it’s content, commerce, services, communications. Of course we’ve only been saying that for two years now.

  • AOL (NYSE:AOL) gets upgraded by BA Robertson Stephens to “strong buy” from “buy.” We would agree and our reason is thus: AOL.com looks like it could be a major gateway in its own right. More kudos, etc. to Steve Case, Bob Pittmann and Ted Leonsis and more competition for the others from the world’s largest online powerhouse.

  • ONSALE (NASDAQ:ONSL) is rated a “market performer” by Everen Securities with a six month price target of $32 (which it already hit today, closing at $33.375 per share). We think a little more aggressively here and say ONSL could be an AMZN-like stock, or at least half of AMZN, within the next year. ONSL’s auction commerce model is cleaner than Amazon’s book one and moves a wider varity of goods.

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