ISDEX & Market Moves
ISDEX Price Weighted Composite
Lycos (NASDAQ:LCOS) keeps up the deal flow with a $5.5 million agreement with CDnow (NASDAQ:CDNW) to sell music via its joint venture Lycos Bertelsmann (GmbH&Co. KG) in Europe. CDnow will be exclusive music retailer to Lycos Bertelsmann in the UK, France, Germany, Italy, Spain, Switzerland and Benelux Countries, and other areas where the joint venture operates.
E*TRADE (NASDAQ:EGRP) gets mixed signals from analysts based on yesterday’s earnings announcement. Deutsche Morgan Grenfell lowers its rating to “accumulate” from “buy” while Raymond James reiterates its “buy” based on E*TRADE’s ability to meet its earnings target amid heavy competition. Raymond James puts a $40 12-month price target on EGRP.
Our own take on this? With all the merger mania in banking how long can an E*TRADE be independent?