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Internet Market Close Report for 1998.04.07

Steve Harmon
By Steve Harmon

ISDEX & Market Moves
Snapshot


































 
07-Apr-98
% change
point change

ISDEX
153.59
-3.16%
-5.01

ISDEX Price Weighted Composite
1,549.75
-3.37%
-53.97

NASDAQ
1,798.71
-1.66%
-30.43

DJIA
8,956.50
-0.85%
-76.73


  • E*TRADE (NASDAQ:EGRP) reports revenues second quarter ended March 31, 1998 jumps 66% to $53.3
    million, but just 4% more than the previous quarter. 2Q net income reaches $6.1 million, or $0.15 per share,
    compared with $3.1 million or $0.09 per share 2Q97. Adds 80k accounts in latest quarter. Total accounts now exceed 425k vs. 145k March 1997.

  • PSINet (NASDAQ:PSIX) issues $600 million senior notes in a private placement through DLJ. 10% coupon, S&P rates the issue B- (minus), maturity 2/15/2005. One thing we’re watching for: PSINet to attack the corporate access world en force with its new fiber relationship with IXC Communications (NASDAQ: IIXC) to use 10,000 equivalent route miles of OC-48 fiber. Maybe the cash will help.

    • Steve Harmon
    Steve Harmon
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