An early-day rally continues yesterday’s run before ISDEX weakens late in trading on profit taking. Dow and NASDAQ also find some upside as Federal Reserve chairman Alan Greenspan tells Congress that inflation may be in check but a small tightening of the money supply may keep it so.
iVillage (NASDAQ:IVIL) climbs 16% to $44 per share on no news but I think shortsellers may be covering their positions. Also, with Paul Allen buying a stake in rival Oxygen Media (a cable/Web media firm aimed at women) for $100 million it may be raising the profile of the women’s Web/cable opportunity.
Liquid Audio (pending IPO) is available on Amazon.com with a few music downloads in its digital audio format (a rival to the more popular MP3). Amazon reportedly has options for 10% equity in Liquid Audio. IPO targeted to raise $60 million in early July.
Exodus (NASDAQ:EXDS) agrees to sell $75 Million of 11 1/4% Senior Notes due 2008 in a private offering. The move highlights the increasing capital needs for Web hosting solutions providers and other “infrastructure” companies.
E*TRADE (NASDAQ:EGRP) reports its community area now has more than 150,000 active discussion group participants. Thoughts here: a few weeks ago Merrill Lynch announced it plans on being a large Internet brokerage player. why doesn’t it simply acquire E*TRADE. Time is critical in these market.
