Internet Market Close Report for 1998.04.08

ISDEX & Market Moves
Snapshot


































 

08-Apr-98

% change

point change

ISDEX

156.34

1.79%

2.75

ISDEX Price Weighted Composite

1,577.69

1.80%

27.94

NASDAQ

1,806.92

0.46%

8.21

DJIA

8,891.48

-0.73%

-65.02


  • 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?

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