Outpaces The Dow: ISDEX Up Again As Net Stocks Zoom

Forget that pink bunny that keeps going and going and going. ISDEX
seems to have had its share of high-energy this past week as the leading
pure play index of Internet stocks beat the Dow, NASDAQ, and S&P, no small
rabbit and hat trick in a market ruled by blue chip bulls.


Since the start of the year ISDEX is up about 50% and up an
incredible 120% since last April when it hovered at an all-time low. That’s
when you could have picked up a handful of search stocks for under $15
each, some under $10. That’s also when the “push” mania erupted and the
search engines looked like toast.


We’re partly convinced that search may always be relevant based on the fact
that people’s needs fluctuate and that push may not always deliver what you
want.


We’re also convinced, however, that inside the corporation broadcast (push
via another name) of data and information may be larger than employee hunt
and peck via search sites.


That’s because corporate bandwidth is expensive and it will be
managed as an investment, not a gee whiz surfing experience. In late ’98
and early ’99, broadcast servers may emerge again and rule intranets
henceforth.


So is search dead? No. Consumers may always want a window seat on the Web.
Expect more divergence here between business intranets and the consumer
Internet.


Our latest tally of moved, shaken, or all shook up:


ISDEX March 17 – 24:




































































































































































































































































































































































































































































































ISDEX ®

 

24-Mar-98

% change

Point change

% change

Internet Stock Index

 

close

from

from

from

www.isdex.com

 

 

17-Mar-98

17-Mar-98

31-Dec-97

ISDEX Geometric Average

 

149.23

2.6%

3.80

49.4%

ISDEX Price Wtd. Composite

 

1,489.94

3.1%

45.06

34.6%

NASDAQ

 

1,812.44

1.9%

33.14

15.4%

DJIA

 

8,904.44

1.8%

154.45

12.6%

(sorted by percent gains)

 

 

 

 

 

Cyberguard

CYBG

$11.44

33%

$2.81

103%

Axent

AXNT

$27.78

22%

$5.00

61%

N2K

NTKI

$29.38

20%

$4.94

101%

RealNetworks

RNWK

$22.44

20%

$3.69

62%

Mindspring

MSPG

$67.19

17%

$9.63

100%

PairGain

PAIR

$22.25

10%

$2.00

15%

IDT Corp

IDTC

$37.19

10%

$3.25

84%

Sportsline USA

SPLN

$29.03

9%

$2.50

170%

PSINet

PSIX

$10.69

8%

$0.81

109%

E*TRADE

EGRP

$24.06

8%

$1.81

5%

Security Dynamics

SDTI

$41.25

7%

$2.81

15%

CheckPoint Software

CHKPF

$44.38

6%

$2.63

9%

America Online

AOL

$67.88

6%

$3.88

50%

Network Solutions

NSOL

$29.13

6%

$1.63

122%

Amazon.Com

AMZN

$84.25

5%

$4.38

-7%

CDnow

CDNW

$24.97

5%

$1.28

56%

Versant Object Technologies

VSNT

$8.00

5%

$0.38

-42%

CMG Info

CMGI

$57.63

4%

$2.44

90%

USWeb

USWB

$22.41

4%

$0.91

139%

Lycos

LCOS

$42.25

4%

$1.63

2%

Intuit

INTU

$46.84

4%

$1.72

14%

Yahoo!

YHOO

$86.81

4%

$2.97

25%

Earthlink Network

ELNK

$54.00

3%

$1.50

110%

Onsale

ONSL

$32.25

2%

$0.63

79%

Secure Computing

SCUR

$14.13

1%

$0.19

20%

Excite

XCIT

$49.59

0%

$0.22

65%

Verisign

VRSN

$44.50

0%

$0.16

218%

Infoseek

SEEK

$18.50

0%

$0.06

72%

Open Market

OMKT

$18.97

0%

$0.06

97%

VocalTec

VOCLF

$20.50

0%

$0.00

0%

CNET

CNWK

$32.97

0%

-$0.03

12%

WavePhore

WAVO

$9.69

0%

-$0.03

3%

Cylink

CYLK

$13.50

0%

-$0.06

38%

Netscape

NSCP

$19.13

-1%

-$0.13

-22%

Concentric

CNCX

$18.63

-1%

-$0.13

110%

Spyglass

SPYG

$8.44

-1%

-$0.06

71%

Broadvision

BVSN

$16.75

-1%

-$0.13

158%

Open Text

OTEXF

$19.63

-2%

-$0.50

47%

Metricom

MCOM

$9.44

-3%

-$0.25

-2%

Broadband Technologies

BBTK

$7.69

-3%

-$0.25

86%

Security First Net Bank

SFNB

$9.13

-4%

-$0.38

26%

NewsEdge

NEWZ

$12.75

-5%

-$0.63

-5%

CheckFree

CKFR

$22.75

-5%

-$1.19

-16%

Mecklermedia

MECK

$23.50

-6%

-$1.38

-6%

Egghead.com

EGGS

$10.25

-7%

-$0.75

58%

@Home Network

ATHM

$32.94

-7%

-$2.50

-45%

Network Associates

NETA

$64.63

-8%

-$5.56

22%

Doubleclick

DCLK

$31.94

-9%

-$3.06

88%

CyberCash

CYCH

$16.25

-9%

-$1.63

28%

CKS Group

CKSG

$20.31

-12%

-$2.69

44%

TOTAL

 

1,489.94

3%

44.56

35%

SIMPLE AVERAGE

 

29.80

3%

0.89

35%


  • 03.24.98: Network Associates (NASDAQ:NETA) agrees to acquire
    automated help desk and asset management firm Magic Solutions for $110
    million cash. NETA plans on taking $90 million charge for the deal.

  • 03.20.98: Infoseek (NASDAQ:SEEK) goes German with a deal with
    Deutsche Telekom Online Service, Europe’s largest Internet access provider;
    Axel Springer Verlag, Germany’s largest consumer media company; and
    Holtzbrinck, Germany’s premier publisher across all media, specializing in
    business news and information. Infoseek will be the search front end.

  • 03.20.98: PSINet (NASDAQ:PSIX) wants to sell debt to pay down debt
    and for general working capital purposes. The business ISP’s stock hasn’t
    enjoyed the run that consumer ISPs have had this year. This is ironic because
    business access accounts are lower in churn and higher in revenue and
    margin.

  • 03.19.98: AOL (NYSE:AOL) will receive a minimum $21 million from
    Software.net to allow it to sell software on AOL and AOL.com. AOL also
    invests $2 million for a small piece of equity in the firm and will receive
    ad split revenue after a certain threshold. Software delivery is via
    download and shrink wrap.

  • 03.19.98: SportsLine USA (NASDAQ:SPLN) files to sell 4 million
    shares of its common stock, 2.3 million from SportsLine and 1.7 million
    from shareholders. Underwriters: BancAmerica Robertson Stephens,
    NationsBanc Montgomery Securities, PaineWebber, and Salomon Smith Barney.
    Sportsline cashes up for the Web sports content wars.

  • 03.18.98: CKS Group (NASDAQ:CKSG) posts $32.2 million revenue for
    its first quarter of fiscal 1998, up 32%. Net income falls 41% to $1.1
    million, loss of $0.07 per share vs. $0.12 per share. Our short take, CKS
    seems to have stymied itself in analog interpretations of how to do
    business on the Internet, which is a digital domain.

  • News Around the Web