PSINet (NASDAQ:PSIX) climbs 20% to $19.25 per share on heavy volume, 18.8 million shares as rumors spread that AT&T may be shopping for it. While we don’t think Ma Bell is a buyer given its $48 billion bid for TCI we have always believed that PSI was a good backbone for a larger telco to own to run IP communications on. CEO Bill Schrader has never been a seller though so we’ll see.
CNET (NASDAQ:CNWK) jumps 12% to $71.625 per share on expectations of revenue growth following its 2Q results. The tech-Internet firm posts. Some of the gain may have been on its $0.02 EPS. Those who delve deeper know that the earnings came from a $4.5 million gain from a partial sale of CNET’s stake in Vignette. Without that, see net?
Book now! Steve Harmon talks investments with some of the top names in the industry…CEOs of GeoCities, CMG Info, venture capitalists doing the $ billion deals, and 3 of the top Internet stock analysts on Wall Street (Steve was one of them) selected by CBS MarketWatch!”
InternetNews is a source of industry news and intelligence for IT professionals from all branches of the technology world. InternetNews focuses on helping professionals grow their knowledge base and authority in their field with the top news and trends in Software, IT Management, Networking & Communications, and Small Business.
Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.