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Internet Market Close Report for 1998.04.29

Steve Harmon
By Steve Harmon

Market Close Snapshot


 

































29-Apr-98

% change

point change

ISDEX

163.75

1.00%

1.62

ISDEX
Price Wtd.

1,673.13

1.02%

16.91

NASDAQ

1,851.64

1.09%

19.88

DJIA

8,951.52

0.59%

52.56

  • Netscape (NASDAQ:NSCP) shares start to find buyers after committing its focus to build out its Web site into a media service. More than 12 million shares trade hands today as the stock flirts with $30 per share. We said in Internet Stock Report back in January that doing this would probably boost its stock. And so it has.

  • AOL (NYSE:AOL) climbs to a new high up more than $5 per share to $80.50 on news that Disney may partner with it. Also helping the jump was yesterday’s comment at Hambrecht & Quist’s technology conference from its CFO that AOL — if valued asset by asset — ought to perhaps be properly valued at double its current price. We think AOL could be the ‘Microsoft’ of the Internet. Seems to be the only one with enough overall leverage to make Redmond (Microsoft’s home) red.

    • Steve Harmon
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