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Internet Market Close Report for 1998.08.21

Steve Harmon
By Steve Harmon

































 
21-Aug-98
point change
% change

ISDEX geo. average
127.06
-1.74
-1.35%

ISDEX composite
1,445.53
-26.06
-1.77%

NASDAQ
1,797.61
-34.84
-1.90%

DJIA
8,533.65
-77.76
-0.90%


  • Cisco (NASDAQ:CSCO) agrees to acquire IP address management and access firm American Internet for $56 million stock.

  • NewsEdge (NASDAQ:NEWZ) will deliver its wholesale news feed to Yahoo’s new small business site. NewsEdge hasn’t been able to crack the lack of brand value, however, in its stock price, despite being one of the Web’s largest personalized news firms.

  • E*TRADE (NASDAQ:EGRP), completes its announced $400 million sale of common stock to SOFTBANK (Tokyo:9984) which now owns 27.2% of the Web-based investment service. SOFTBANK holds 15.6 million newly issued E*TRADE shares which it paid $25.56 per share. E*TRADE shares outstanding are 56.5 million now. SOFTBANK owns 31% of Yahoo!, 35% of GeoCities, 71% of Ziff-Davis and scores of investments in Internet startups. We believe SOFTBANK was behind E*TRADE’s recent deals with Yahoo and Ziff Davis, as it tries to leverage its portfolio. Keiretsu anyone?







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    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…top execs of GeoCities, CMG Info, DoubleClick, venture capitalists doing the $ billion deals, debuts hot startups at Startup Live!, and debates top stocks with the leading Internet stock analysts on Wall Street (Steve was one of them) selected by CBS MarketWatch!”

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