Internet Market Close Report for 1998.06.03



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  • Cyberian Outpost, which sells software and hardware via the Web, files for initial public offering, the latest to tap the public market for capital. Given Wall Street’s latest fickleness we wonder if Cyberian will be left out in the cold? More on this in a future Internet Stock Report this week.

  • PairGain (NASDAQ:PAIR) gains on news that Rockwell debuts a new high-speed modems featuring PairGain’s DSL technology. The modems receive data at one meg per second and send at 128 kbps upstream (ISDN speeds) using standard telephone wires. Maybe DSL is about to deliver after all.

  • Concentric Network (NASDAQ:CNCX) prices $150 million of 13 1/2% Senior Redeemable Exchangeable Preferred Stock due 2010. Each share of preferred will have a liquidation preference of $1,000 per share. This corporate ISP looks like it’s cashing up for the network wars ahead. As an aside, we wonder what impact Sprint’s (NASDAQ:FON) new ION high-speed multiple communication service will have on the telco and ISP sectors. Lack of bandwidth has been one of the top bottlenecks in Internet roll out.

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