Internet Market Close Report for 1998.06.04 | Internet News
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Internet Market Close Report for 1998.06.04

Written By
Steve Harmon
Steve Harmon
Jun 4, 1998
2 minute read































04-Jun-98

point
change

% change

ISDEX

130.62

1.69

1.31%

ISDEX Price
Wtd.

1,315.09

18.00

1.39%

NASDAQ

1,769.95

27.64

1.59%

DJIA

8,870.56

66.26

0.75%

  • CMG Info (NASDAQ:CMGI) drops 13% to $34.125 on no news today. Our analysis shows the public venture capital and direct marketing firm’s 23 off-balance sheet assets could be worth north of $1 billion or $47.125 per share. Its stable of brand-name and market top tier investments includes Lycos (NASDAQ:LCOS), which it owns 42% of, and Websteader pioneer and market leader GeoCities, which is rumored to be readying for an IPO.

  • Open Market (NASDAQ:OMKT), a leader in ecommerce software, receives an investment from chip king Intel (NASDAQ:INTC) which acquires 330,000 restricted shares that represents about a 1% stake, sending OMKT up 11% to $17.25 per share. Intel is very active in the venture space as we noted in a report last year on the silicon surfer turned Web surfer. Most analysts say that’s because Intel wants applications that sap up more CPU and drive faster chip sellthrough. We say partly true and suspect Intel could be a major force in the Internet field from software, chips and network hardware. we think Intel’s looking for growth in chips and outside the box.

  • Excite (NASDAQ:XCIT) gets tapped by Telecom Italia to create a branded gateway for the Italian market. What we are seeing is U.S. expertise and brands sought after to jumpstart Europe into better Internet services. Sure, Telecom Italia could have done its own effort at trying to be a portal, search and email hub but in the Internet time is more important – months can mean years of lost opportunity. We expect the end result of this deal to mirror how Excite underlies the search for AOL and Netscape. More importantly, it proves Excite’s aggressiveness in dealmaking, which could bode well for future results.





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