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Internet Market Close Report for 1998.06.30

Written By
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Steve Harmon
Steve Harmon
Jun 30, 1998
































 
30-Jun-98
point change
% change

ISDEX
158.34
1.82
1.16%

ISDEX Price Wtd.
1,814.16
49.13
2.78%

NASDAQ
1,894.74
3.66
0.19%

DJIA
8,952.02
-45.34
-0.50%

  • Sportsline USA (NASDAQ:SPLN) shares zoom after it agrees to acquire golf etailer International Golf Outlet Inc. Terms = 46,924 SPLN shares valued at $1.65 million and $350k cash. Deal could reach another $1.5 million if the etail effort meets targets over next three years. We think the buy was a good one for Sportsline and cheap. Audience leverage necessitates commerce at some juncture for most content sites. Content and commerce, affinity marketing, are central to the Web. SPLN closes up 16% at $39.563 per share on double average volume, 1.2 million shares.


  • AOL (NYSE:AOL) extracts $75 million from three Web-based trading firms in return for giving them key placement on AOL’s mutual fund and brokerage areas. The three: DLJdirect, E-Trade and Waterhouse Securities. Another coup for AOL, another sign that real estate values are soaring for downtown locations. AOL’s $500 million offer also further cashes up the world’s leader in online services. We think it’ll buy the top sites through cash and stock, consolidate its Web position quickly.

  • @Home (NASDAQ:ATHM) signs Jones Intercable as its latest cable system operator to join the @Home Internet via cable universe. The new service, dubbed Jones@Home, expands @Home’s reach into Jones’ 2 million homes passed in the Washington, D.C. area.

  • Doubleclick (NASDAQ:DCLK) reports it’s the third-largest network on the Web behind Yahoo and AOL, and says it’s according to Media Metrix. Rival LinkExchange soon issues an email that says the stats are wrong, that Doubleclick is fifth and LinkExchange is fourth, with Microsoft’s many Web sites being third. This is the stat war we warned you was coming. More, we’re sure of it.



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