Internet Market Close Report for 1998.11.20 | Internet News
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Internet Market Close Report for 1998.11.20

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


























 
20-Nov-98
point change
% change

ISDEX
209.60
2.89
1.40%

NASDAQ
1,928.21
8.53
0.44%

DJIA
9,159.55
14.94
0.17%

  • Inktomi (NASDAQ:INKT) inks a deal with AOL (NYSE:AOL) for AOL’s ICQ instant messaging platform. Inktomi’s search engine will power the search for ICQ’s new interface debuting soon. ICQ reports an average of 4.8 million registrants use ICQ daily for about 69 minutes. About 700,000 simultaneous users are on during peak usage. The news, however, didn’t stop profit takers from bailing on INKT’s stock today, down $9.50 to $133.75 per share.

  • Concentric Network (NASDAQ:CNCX) gets the nod again from Microsoft to provide Microsoft’s WebTV with bandwidth. WebTV renewed an agreement it has with Concentric that also provides for increased bandwidth for November/December for WebTV.

    Since we’re talking about WebTV…we think WebTV is trying to position itself as a set-top box rather than just Internet for TVs. Microsoft appears to be trying to establish itself as the gateway for the cable universe entirely. Wonder what TCI chief John Malone would say about that? Or Broadcom CEO Henry Nicholas? Or @Home?

  • Verio (NASDAQ:VRIO) agrees to sell $400 million, 11.25% senior notes due 2008. The issue will help the ISP in its $267 million acquisition of Hiway Technologies. Terms there: $176 million cash and 4.92 million VRIO shares.

  • Amazon.com (NASDAQ:AMZN) writes another chapter in its all-time high with a new peak of $181.75 per share today as news yesterday of a planned 3-for-1 stock splits sends retail investors buying. Stockholders will receive two additional shares for every share held on the record date of December 18. The additional shares will be delivered on or about January 4.

  • The monthly heads up you don’t want to miss–Steve Harmon’s Finance Tips, only via email sign up here now!

    Attention Internet Startups! LaunchPad West StartUp Pavilion, part of Spring Internet World ’99, one of the world’s largest Internet industry trade shows offers exhibit space for startups ONLY at a reduced price in order to meet their often limited capital available at the startup stage. Contact Sean Moriarty (hurry, space limited): mailto:moriarty@mecklermedia.com

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    Steve Harmon
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