Internet Market Close Report for 1998.08.26 | Internet News
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Internet Market Close Report for 1998.08.26

Written By
Steve Harmon
Steve Harmon
Aug 26, 1998
2 minute read
































 
26-Aug-98
point change
% change

ISDEX geo. average
118.04
-6.00
-4.84%

ISDEX composite
1,588.22
-86.13
-5.14%

NASDAQ
1,768.13
-30.04
-1.67%

DJIA
8,523.35
-79.30
-0.92%


  • Microsoft (NASDAQ:MSFT) agrees to acquire privately-held Valence Research to boost its NT as platform ability. Valence makes load-balancing software that improves NT’s clustering and fault tolerance. Terms undisclosed. Despite, or in spite of, itself NT emerges as a more prominent Web/network platform. Novell (NASDAQ:NOVL) has been the historical leader and has what many say to be a superior platform. Novell, wherefore art thou?

  • CyberCash (NASDAQ:CYCH) shares pop 12% to $10.34 per share today on heavy volume based on news yesterday. CYCH shares are up more than 30% in two days. To reiterate the news behind today’s moves: more than 7,000 merchants use its payment system with more than 280 merchants signing on every two weeks. The firm says transactions it process approach about one million per week, up 150% this year.


  • AOL (NYSE:AOL) inks a “brand” deal with Baywatch (yes, the TV show) that will feature AOL in an upcoming episode of the program, which Baywatch claims reaches more than 1 billion people globally. What’s next? AOL on milk cartons?

  • PSINet (NASDAQ:PSIX) agrees to acquire Japan’s Rimnet, an ISP that serves about 70,000 individual customers. Rimnet had fiscal 1997 (August) revenue of about $15 million. Given the different marketplace environment, we estimate the deal at $35 million to $45 million or about $500 to $600 per account. That would be about a third of the trading value per sub of U.S. ISPs.



    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!”

    •
    Steve Harmon
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