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Internet Market Close Report for 1998.07.31

Written By
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Steve Harmon
Steve Harmon
Jul 31, 1998


























 
31-Jul-98
point change
% change

ISDEX
140.24
-3.12
-2.18%

NASDAQ
1,872.39
-47.23
-2.46%

DJIA
8,883.29
-143.66
-1.59%

  • Cyberian Outpost (NASDAQ:COOL) bucks the market’s weakness and goes public at $18 per share, opens at $25 and closes at $20.50. For our pre-IPO analysis on software and hardware etailer Cyberian please click
    here.

  • Egghead.com (NASDAQ:EGGS) reports a $5.5 million loss or $0.24 per share for its fiscal first-quarter quarter ending June 27 vs. $3.7 million loss or $0.21 per share for the same quarter last year. Revenue from the Web-based efforts (which is Egghead’s focus now and in the future) is up 41% sequentially to $21.1 million vs. $15 million last quarter.

    Overall EGGS revenue, which includes catalog and call center revenue that Egghead cut back on, drops to $29.5 million from $56.2 million the same quarter last year. Our target for EGGS was a $0.35 loss per share but we expect losses to continue as Egghead integrates its Web sites and grows its market share through marketing and ad expenditures.

  • Open Market (NASDAQ:OMKT) receives $20 million private placement from CMG Info (NASDAQ:CMGI) and Heights Capital Management, a equity-financing growth fund. Terms: 1,338,912 shares of unregistered common stock at a price of $14.94 per share and warrants to purchase an additional 334,728 common shares at a price of $16.43 per share. The e-commerce and business-to-business Web software’s clients include top telco and publishing firms.


    Internet Investment Symposium ’98 @ Fall Internet World!

    Book now! New York City, Oct. 8-9 as Steve Harmon talks investments with some of the top names in the industry…CEOs of GeoCities, CMG Info, DoubleClick, 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!”

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    Steve Harmon

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