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Internet Market Close Report for 1998.07.20

Written By
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Steve Harmon
Steve Harmon
Jul 20, 1998
































 
20-Jul-98
point change
% change

ISDEX
173.83
5.30
3.14%

ISDEX Price Wtd.
2,024.44
105.06
5.47%

NASDAQ
2,014.25
5.49
0.27%

DJIA
9,295.75
-42.22
-0.45%

  • Amazon.com (NASDAQ:AMZN) again silences critics with a 15% jump to $137.50 per share. Fueling the rise is expectation of strong revenue for the bookseller turned music seller turned video seller. We project $110 million revenue for second quarter, higher than any other analyst estimate. We forecast AMZN per share loss at $0.40 as it invests in the future. Get big fast, stay big, get bigger. Chimp to gorilla, the new Internet evolution.

  • CMG Info, long overdue for a name change, climbs 14% to $82.75 per share on news that CMG combines technology from Engage with Open Market (NASDAQ:OMKT) technologies. Also driving the stock, one of CMG’s portfolio investments – GeoCities – gets ready to make a public debut soon. CMG owns a third of GeoCities among its two dozen Internet investments.

  • CNET (NASDAQ:CNWK) soars 30% to $70.25 per share as Snap!, the service effectively run by NBC, gains key NBC execs to take the controls. CNET’s Halsey Minor remains chairman of Snap! however. We think Snap! could be a bigger company than CNET someday since the Web guide space is horizontal vs. CNET’s computer focus.

    Steve Harmon was named one of the ‘Best
    of Wall Street’ by CBS Marketwatch.     Steve and other top insiders debate Internet stocks and investment ups and downs, with your Q&A, at



    Steve Harmon’s Internet Stock Report. If the Internet’s your business this is the bottom line.Tell a friend about it! Point them to this Web address! Sharing is good!

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