Some Bright Spots Amid Overall Weak Market

  • CMGI (NASDAQ:CMGI) posts a worse-than-expected loss for its fiscal third quarter, $0.30 loss per share vs. First Call consensus loss of $0.13. The acquisition of I/PRO accounts for the gap. Revenue jumps to $43.7 million vs. $18.1 million for the quarter ending April 30 last year. CMGI drops 4% to $101.50 per share.
  • E-LOAN (pending IPO) lowers its estimated public offering range to $9-$11 from $11-$13. I think the saturated IPO market may be the cause for the mortgage search engine.
  • Network Solutions (NASDAQ:NSOL) gains 10% to $66.25 on plans to launch a Web guide using Infospace (NASDAQ:INSP) private label content. The firm is the leading domain registrar for .com and .net registrations. NSOL stock has suffered lately from the debut of rivals who may also now register domains in its space. Meanwhile, INSP stock up 9% to $50 3/16. presents Steve Harmon’s Hotwatch ’99 – the 10 stocks to watch in the Internet
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