Internet Market Close Report for 1999.02.03

Rates in line the overall market exhales and starts buying tech and Internet
shares, stocks it sold off on rate increase fears the past few trading
sessions. ISDEX gains 4%, easily outpacing NASDAQ and Dow.

Today’s snapshot:

03-Feb-99 % change point change
DJIA 1.00% 92.69

  • AOL (NYSE:AOL) inks a marketing deal with credit card issuer First
    USA that it says could be worth “$500 million” over the next 5 years. We
    quote from the company: “The agreement is anticipated to generate up to
    $500 million if expected thresholds are met, and contains significant
    guaranteed revenue to AOL and significant marketing commitments to First
    USA.” Sounds impressive but we think a tad bit too much hype. Generate the
    $500 million (or a good precentage) and then let us know about it.

  • E*TRADE (NASDAQ:EGRP) experiences a software glitch that halts
    online stock trades of the service for about 75 minutes today.

  • N2K (NASDAQ:NTKI) revenue jumps 331% to $17.2 million while
    customers also rise, up 60% to 720,000 for 1998. Between CDNow
    (NASDAQ:CDNW) and N2K they have about 1.7 million customers. The two music
    etailers are merging.

  • News Around the Web