Internet Market Close Report for 1999.02.12

The correction that showed up earlier in the week pops up again for a second
wind. Profit taking following yesterday’s 13% run and general jitters about the
tech and Internet sectors caused by an analyst downgrade of DELL. While DELL
isn’t an Internet stock per se the move rumbles through Internets and shaves 5%
off ISDEX to 301.01. Today’s snapshot:

  12-Feb-99 point change % change
ISDEX 301.01
-18.32 -5.74%
NASDAQ 2,321.89 -83.66 -3.48%
DJIA 9,274.89 -88.57 -0.95%

  • Sportsline (NASDAQ:SPLN) will receive $100 million worth of ad time on CBS
    as part of a five-year deal that results in CBS getting an increased stake in
    SPLN. CBS owned 12% of SPLN and now will own about 18%, CBS could eventually own
    27% depending on SPLN stock price.

  • Proxicom files for an IPO in an effort to raise $75 million, another in a
    long line of Internet IPOs. More in Internet Stock Report next week.

  • Individual Investor (NASDAQ:INDI) set a 52-week record of $11.875 per share
    after announcing a deal to be featured on Yahoo Finance. INDI shares close up
    33% to $8.25 per share.

    Harmon’s HotWatch ’99 – the hottest analysis about Internet stocks
    delivered to your email box each month! Last year’s 10 to watch from Steve
    Harmon was up 300%. Will 1999 be a repeat? More info
    click here

  • News Around the Web