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Internet Market Close Report for 1998.05.22

Steve Harmon
By Steve Harmon

































 
22-May-98
point change
% change

ISDEX
145.12
-3.38
-2.28%

ISDEX Price Wtd.
1,493.19
-41.56
-2.71%

NASDAQ
1,805.00
-15.99
-0.88%

DJIA
9,114.44
-17.93
-0.20%

  • Verio (NASDAQ:VRIO) is the subject of takeover speculation just a week after going public. IPOed at $23 May 12, flirted with $30 and closes today at $24.375. Although some believe a U.S.-based local exchange carrier could be on the prowl here we recall that Verio sold 4.5 million shares of shares to an affiliate of Japan-based Nippon Telegraph and Telephone (NYSE:NTT) for an aggregate price of $100 million at the same time it went public. NTT a buyer?

  • CMG Information Services (NASDAQ:CMGI) rescinds its stock repurchase program announced October 25, 1996 which authorized the repurchase of up to 1 million shares (split adjusted) of CMGI. CMG’s CFO says the decision was a result of uncertainties regarding the Securities and Exchange Commission’s interpretation of Staff Accounting Bulletin 96 (SAB 96) and it has not purchased any shares the past 12 months.

  • CKS Group (NASDAQ:CKSG) gets an initial “strong buy” rating from Furman Selz. We said in Internet Stock Report April 7 that CKS looked somewhat attractive in our opinion based on fundamentals and relative valuation. See Archives April 7 Morning Report for that report.




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