The big news today is the $301 billion the Internet produced in revenue last year, about 1 percent of total U.S. GDP. The revenue came from Web sales of books, music, toys, etc. $58 billion of the total was stock trading and travel, according to the study from the University of Texas and Cisco.
As the news spreads today it may have a positive effect on the Internet sector if investors can get over interest rate concerns (which they may not).
For the period May 26 through June 9 ISDEX (the Internet Stock Index) went sideways. A new addition to ISDEX topped the list of percent gainers, StarMedia (NASDAQ:STRM), up 42% from May 26 and 150% from its $15 IPO price.
For those north (or west or east) of the border unfamiliar with STRM, it provides Web search and guide services across Latin. I think StarMedia has the chance to be the Yahoo! of Latin America, although Yahoo! just inked a marketing deal with Fox’s Latin TV division for the region.
Other threats include AOL/Cisneros Group’s adventuras en America del Sur, if you can excuse my Spanglish.
Let’s go to the stats:
ISDEX ® | 09-Jun-99 | % change | Point change | % change | |
The Internet Stock Index | close | from | from | from | |
www.isdex.com | 26-May-99 | 26-May-99 | 31-Dec-98 | ||
or 1999 IPO | |||||
ISDEX | 505.06 | -0.03% | -0.14 | 49.9% | |
NASDAQ | 2,519.35 | 3.8% | 92.17 | 14.9% | |
DJIA | 10,690.29 | -0.1% | -11.87 | 16.4% | |
StarMedia | STRM | $ 37.50 | 42% | $11.00 | 150% |
ISS Group | ISSX | $ 29.63 | 27% | $6.38 | 8% |
Beyond.com | BYND | $ 23.69 | 25% | $4.75 | 14% |
Exodus | EXDS | $ 91.19 | 24% | $17.75 | 184% |
Security First Technologies | SONE | $ 38.88 | 21% | $6.75 | 155% |
Verio | VRIO | $ 61.38 | 20% | $10.25 | 174% |
Infospace.com | INSP | $ 46.25 | 20% | $7.56 | 143% |
Broadvision | BVSN | $ 58.25 | 19% | $9.38 | 82% |
CheckPoint Software | CHKPF | $ 52.19 | 19% | $8.25 | 14% |
Verisign | VRSN | $ 58.63 | 11% | $5.75 | 98% |
24/7 Media | TFSM | $ 31.25 | 11% | $3.00 | 12% |
Open Market | OMKT | $ 13.25 | 10% | $1.25 | 13% |
Infoseek | SEEK | $ 46.44 | 10% | $4.31 | -6% |
Concentric | CNCX | $ 35.06 | 10% | $3.06 | 111% |
Broadcom | BRCM | $ 108.75 | 9% | $9.19 | 80% |
Go2Net | GNET | $ 107.88 | 7% | $6.63 | 510% |
Prodigy | PRGY | $ 24.50 | 7% | $1.50 | 63% |
Doubleclick | DCLK | $ 96.13 | 7% | $5.88 | 332% |
Broadcast.com | BCST | $ 111.50 | 6% | $5.94 | 192% |
eBay | EBAY | $ 183.00 | 5% | $8.69 | 128% |
CMG Info | CMGI | $ 105.25 | 5% | $4.63 | 295% |
Xoom.com | XMCM | $ 48.88 | 5% | $2.13 | 48% |
Cisco | CSCO | $ 113.75 | 4% | $4.63 | 23% |
Yahoo! | YHOO | $ 146.38 | 4% | $5.50 | 24% |
USWeb | USWB | $ 25.88 | 3% | $0.81 | -2% |
VocalTec | VOCLF | $ 10.81 | 3% | $0.31 | -4% |
Egghead.com | EGGS | $ 11.00 | 3% | $0.31 | -47% |
CDnow | CDNW | $ 17.75 | 2% | $0.31 | -1% |
Earthlink Network | ELNK | $ 50.25 | 0% | $0.25 | -12% |
Inktomi | INKT | $ 98.25 | 0% | $0.25 | 52% |
Preview Travel | PTVL | $ 17.06 | 0% | $0.00 | -7% |
CNET | CNET | $ 52.38 | 0% | -$0.16 | 307% |
Network Solutions | NSOL | $ 60.25 | -1% | -$0.50 | -8% |
PSINet | PSIX | $ 43.63 | -2% | -$0.75 | 109% |
Network Associates | NETA | $ 14.25 | -2% | -$0.25 | -78% |
RealNetworks | RNWK | $ 68.50 | -2% | -$1.69 | 282% |
Mindspring | MSPG | $ 71.78 | -2% | -$1.78 | 18% |
Sportsline USA | SPLN | $ 33.63 | -3% | -$1.13 | 116% |
CyberCash | CYCH | $ 12.81 | -4% | -$0.56 | -15% |
Amazon.Com | AMZN | $ 114.00 | -6% | -$6.94 | 6% |
Ticketmaster-CitySearch | TMCS | $ 26.00 | -6% | -$1.75 | -54% |
Onsale | ONSL | $ 17.19 | -6% | -$1.19 | -57% |
Axent | AXNT | $ 11.88 | -7% | -$0.88 | -61% |
America Online | AOL | $ 111.00 | -8% | -$9.31 | 43% |
Lycos | LCOS | $ 93.00 | -9% | -$9.00 | 67% |
E*TRADE | EGRP | $ 40.50 | -9% | -$4.25 | 246% |
Security Dynamics | SDTI | $ 17.00 | -11% | -$2.06 | -26% |
Cyberian Outpost | COOL | $ 10.69 | -14% | -$1.69 | -61% |
iVillage | IVIL | $ 41.19 | -16% | -$7.81 | 72% |
@Home Network | ATHM | $ 96.88 | -22% | -$27.75 | 30% |
Among the news and moves:
Also, with Disney Internet leader Jake Weinbaum leaving, some key Infoseek execs already gone, it may be better to have one captain and why not Mickey Mouse, or Steamboat Willie. You know what Wall Street really wants to see from Disney? Some imagineering with its Web efforts instead of the me-too portal model it has followed.
Shares of cable Internet stocks fall with @Home (NASDAQ:ATHM) hit the hardest down 10% to $94.50 per share. AT&T (acquiring TCI, a majority owner of @Home) will inevitably fight the ruling in appellate court.
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