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Internet Market Close Report for 1999.02.08

Written By
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Steve Harmon
Steve Harmon
Feb 8, 1999

ISDEX is off 4.7% to 313.56 even as investors start buying chip stocks again.
The Dow also drops while NASDAQ shows a light gain. Most of the brand name
Internet issues are hit the worst continuing the rout that began last week.
























  08-Feb-99 point change % change
ISDEX 313.56
 -15.46 -4.70%
NASDAQ 2,404.92 31.30 1.32%
DJIA 9,291.11 -13.13 -0.14%


  • PeaPod (NASDAQ:PPOD) soars 48% to $11.125 per share after Piper Jaffray
    gives it a a "strong buy" tout and $36 long-term price target. We
    think the online grocery business is a very local one and that it may be hard to
    realize digital efficiencies in this arena due to the high cost of having
    someone shop for buyers, and deliver the goods.

  • Ameritrade (NASDAQ:AMTD) and a handful of other Web-based stock brokers
    stocks continue to lose ground as investors punish the sector that had been a
    retail investor favorite this year. AMTD is down 16% today to $80.

  • IBM (NYSE:IBM) is back with a music delivery system, this one for enabling
    music to be downloaded over the Internet. IBM’s latest system, dubbed
    "Madison," allows high-speed cable modem users to download music to
    their hard drives and then portable music players. The system has the support of
    the major record labels which are battling to keep copyrights and control over
    music vs. the popular MP3 format which has gained usage through allowing any
    work to be copied freely.

    • thumbnail
    Steve Harmon

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