ISDEX Soars on Merger Monday

The first installment of Merger Monday in the new year was sending Internet stocks solidly higher, mostly due to the announcement of a blockbuster merger between America Online and Time Warner.

Just before noon Eastern, internet.com’s Internet Stock Index had jumped 41.51, or 5.01 percent, to 869.39, the Nasdaq Composite had leaped 106.16 to 3,988.78 and the Dow Jones industrial average had gained 73.22 to 11,595.78.

America Online Inc. (AOL) had gained 2 to 75-3/4 and Time Warner Inc. (TWX) had soared 29-3/4 to 94-1/2. AOL Monday announced it was acquiring Time Warner for $184 billion in cash and stock.

Concentric Network Corp. (CNCX) had jumped 8-9/16 to 38-9/16. The Internet provider was purchased by Nextlink Communications Inc. (NXLK) for $2.9 billion in stock. Nextlink was down 3-3/4 to 74-3/4.

E.piphany Inc. (EPNY) was up 8 to 164-1/2. The company, whose software analyzes Web traffic data, reported a quarterly loss of 24 cents, down from $1 a year ago.

Globix Corp. (GBIX) had soared 19 to 87-1/8. The Web hosting firm Monday announced a 2-for-1 stock split.

PSINet Inc. (PSIX) had jumped 5-1/8 to 66-1/8. The Internet provider Monday said it expects to report revenues of $185 million for the quarter ended Dec. 31 and $1.1 billion for fiscal year 2000. Both numbers are higher than initial analysts’ forecasts.

Verisign Inc. (VRSN) was up 12-11/16 to 182-1/2. The company Monday announced a new digital certificate alliance with CheckPoint Software Technologies Ltd. (CHKP)

Vignette Corp. (VIGN) was up 3-15/16 to 179-1/8. The company Monday acquired Datasage, a provider of online marketing solutions.


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