Internet Market Close Report for 1998.07.20 | Internet News

Internet Market Close Report for 1998.07.20

Written By
Steve Harmon
Steve Harmon
Jul 20, 1998
2 minute read
































 

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.


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