Pause For Cause? Internet Stocks Keep Pace

Internet stocks still posted gains the past week but Wall Street waits for
earnings to see if the 18% dash since April or 50% sprint year to date was
for the cup or simply a marathon to break a sweat.


If earnings come in on or better than target, some of these could run yet
again. Others that haven’t run are putting on their sneakers and waiting
for the start. Will it come?


Here’s our scorecard of the hot and not Internet stocks year to date, and
the past week, March 31 to April 7.


ISDEX & Market Performance












































































































































































































































































































































































































































































































ISDEX ®

 

07-Apr-98

% change

Point change

% change

Internet Stock Index

 

 

from

from

from

www.isdex.com

 

close

31-Mar-98

31-Mar-98

31-Dec-97

 

 

 

 

 

 

ISDEX Geometric Average

 

153.59

1.2%

1.77

53.8%

ISDEX Price Wtd. Composite

 

1,549.75

1.7%

26.03

48.8%

NASDAQ

 

1,798.71

-2.0%

-36.97

14.5%

DJIA

 

8,956.50

1.8%

156.69

13.3%

 

 

 

 

 

 

Cyberguard

CYBG

$ 13.00

37%

$3.50

131%

Concentric

CNCX

$ 26.63

37%

$7.13

200%

WavePhore

WAVO

$ 13.00

24%

$2.50

39%

CheckFree

CKFR

$ 27.13

23%

$5.00

0%

Lycos

LCOS

$ 53.69

21%

$9.44

30%

RealNetworks

RNWK

$ 34.84

20%

$5.84

151%

Earthlink Network

ELNK

$ 67.00

19%

$10.56

160%

USWeb

USWB

$ 26.25

19%

$4.13

180%

CMG Info

CMGI

$ 68.00

17%

$10.06

125%

CDnow

CDNW

$ 27.75

16%

$3.75

73%

CKS Group

CKSG

$ 21.00

12%

$2.19

49%

Infoseek

SEEK

$ 19.88

10%

$1.81

85%

CNET

CNWK

$ 29.50

10%

$2.63

0%

E*TRADE

EGRP

$ 26.94

8%

$2.00

17%

Network Solutions

NSOL

$ 39.63

7%

$2.50

202%

Open Text

OTEXF

$ 19.00

5%

$0.88

42%

PSINet

PSIX

$ 11.56

4%

$0.44

126%

NewsEdge

NEWZ

$ 13.88

4%

$0.50

4%

America Online

AOL

$ 70.50

3%

$2.19

56%

CyberCash

CYCH

$ 16.75

3%

$0.50

32%

Spyglass

SPYG

$ 8.56

3%

$0.25

73%

Excite

XCIT

$ 52.31

3%

$1.38

74%

Cylink

CYLK

$ 14.75

2%

$0.31

51%

Yahoo!

YHOO

$ 93.25

1%

$0.81

35%

Onsale

ONSL

$ 31.13

0%

$0.13

73%

Amazon.Com

AMZN

$ 85.25

0%

-$0.28

41%

Network Associates

NETA

$ 65.88

-1%

-$0.38

25%

Broadvision

BVSN

$ 17.69

-1%

-$0.19

172%

Mecklermedia

MECK

$ 23.75

-2%

-$0.38

-5%

Mindspring

MSPG

$ 63.00

-2%

-$1.25

87%

Intuit

INTU

$ 47.38

-2%

-$1.00

15%

Metricom

MCOM

$ 9.63

-3%

-$0.25

0%

Doubleclick

DCLK

$ 34.19

-3%

-$0.94

101%

N2K

NTKI

$ 29.00

-3%

-$0.88

98%

@Home Network

ATHM

$ 32.06

-5%

-$1.75

28%

Sportsline USA

SPLN

$ 30.63

-5%

-$1.75

185%

Open Market

OMKT

$ 19.50

-5%

-$1.13

103%

Secure Computing

SCUR

$ 12.50

-7%

-$0.88

6%

VocalTec

VOCLF

$ 19.13

-7%

-$1.38

-7%

Axent

AXNT

$ 28.00

-8%

-$2.50

62%

Broadband Technologies

BBTK

$ 7.00

-10%

-$0.75

70%

PairGain

PAIR

$ 21.63

-10%

-$2.38

12%

Verisign

VRSN

$ 38.94

-12%

-$5.06

178%

Netscape

NSCP

$ 16.06

-12%

-$2.13

-34%

Versant Object Technologies

VSNT

$ 6.50

-12%

-$0.88

-53%

CheckPoint Software

CHKPF

$ 40.06

-12%

-$5.63

-2%

Security First Net Bank

SFNB

$ 7.53

-13%

-$1.09

4%

IDT Corp

IDTC

$ 32.06

-15%

-$5.44

58%

Egghead.com

EGGS

$ 8.75

-19%

-$2.00

35%

Security Dynamics

SDTI

$ 27.75

-33%

-$13.38

-22%

TOTAL

 

1,549.75

2%

26.78

49%

SIMPLE AVERAGE

 

31.00

2%

0.54

49%



  • 04.01.98: Search stocks soar on multi-million dollar deals announced by
    Lycos (NASDAQ:LCOS) and Excite (NASDAQ:XCIT) for commerce. Lycos’ deal is
    with CDnow, capping off a $30 million dealfest in many areas. Excite and
    software.net ink a multi-million deal. As we’ve said many times, these may
    very well be the new Web networks (as in TV or radio). That’s way beyond
    search–it’s content, commerce, services, and communications. Of course
    we’ve only been saying that for two years now.


    But this is an eyeball and wallet game now. Will those eyes pay to play?


  • 04.02.98: We said Cyberguard (NASDAQ:CYBG) looked like a misplaced laggard
    and sure enough it climbs 18% to $11.50 today. The Internet security
    software firm tops ISDEX gainers since March 31.

  • 04.03.98: RealNetworks (NASDAQ:RNWK) coverage is initiated by
    Wedbush Morgan with an “accumulate” rating. We think “accumulating” may be
    a little late given RNWK’s recent run–the stock more than doubled in the
    past month.

  • 04.06.98: Excite (NASDAQ:XCIT) agrees to acquire Classifieds2000 for
    890,000 common shares or about $48 million stock swap, pooling of
    interests. The buy will integrate Classifieds2000 more than 1.5 million
    listings into Excite’s Web sites. Another deal for the most acquisitive
    search/navigation site. Anyone remember when Excite was called Architext?
    How far it has come. But how far it also has to go–these are still early
    days.

  • 04.07.98: E*TRADE (NASDAQ:EGRP) reports revenues second quarter
    ended March 31, 1998, a jump of 66% to $53.3 million, but just 4% more than
    the previous quarter. 2Q net income reaches $6.1 million, or $0.15 per share,
    compared with $3.1 million or $0.09 per share 2Q97. Adds 80k accounts in
    latest quarter. Total accounts now exceed 425k vs. 145k March 1997.

  • 04.07.98: PSINet (NASDAQ:PSIX) issues $600 million senior notes in a
    private placement through DLJ. 10% coupon, S&P rates the issue B- (minus),
    maturity 2/15/2005. One thing we’re watching for is PSINet to attack the
    corporate access world en force with its new fiber relationship with IXC
    Communications (NASDAQ: IIXC) to use 10,000 equivalent route miles of OC-48
    fiber. Maybe the cash will help. Take note that PSIX is on the move–it’s
    up 126% year to date.

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