The market taketh and the market giveth. This week was the latter, as
ISDEX, The Internet Stock Index, gained nearly 11% on its way past the 100
mark. The comeback brings the 50-strong basket of stocks back to a place where
it began in 1998, a position believed to hold promise in many
ways.
Consider that revenue, users, page views, and even earnings in some
cases or narrowed losses in others, all progressed towards a larger
marketplace for Internet goods and services. It makes little sense with the
industry growth that these stocks should remain in purgatory.
One thing we see in ISDEX upside since September 1, is the more
“democratically” dispersed nature of gainers. Topping the poppers is
Earthlink (NASDAQ:ELNK), which ran on a tout from Everen Securities, who rates
ELNK as “long term outperform” especially in light of its share price vs.
recent highs.
On the downside, investors have given a big thumbs down, way
down, on USWeb (NASDAQ:USWB), making a $350 million stock swap for Internet
marketing-ad firm CKS Group (NASDAQ:CKSG). USWB shares fell 26% to $10.625
per share. CKSG shares also went south, albeit in a slightly more
climate-controlled 1% drop since September 1. Maybe it’s time to rethink
reinventing the corporation?
The abacus-thumping results:
ISDEX ® | 08-Sep-98 | % change | Point change | % change | |
The Internet Stock Index | close | from | from | from | |
www.isdex.com | 01-Sep-98 | 01-Sep-98 | 31-Dec-97 | ||
or from IPO* | |||||
ISDEX Geometric Average | 101.24 | 8.6% | 8.04 | 1.4% | |
ISDEX Price Wtd. Composite | 1,341.02 | 10.5% | 127.94 | 49.7% | |
NASDAQ | 1,660.86 | 5.4% | 85.72 | 5.8% | |
DJIA | 8,020.78 | 2.5% | 193.35 | 1.4% | |
Earthlink Network | ELNK | $36.00 | 35% | $9.25 | 180% |
Inktomi* | INKT | $67.50 | 31% | $16.13 | 275% |
Excite | XCIT | $30.00 | 25% | $6.00 | 100% |
Secure Computing | SCUR | $8.88 | 22% | $1.63 | -25% |
Security Dynamics | SDTI | $12.25 | 21% | $2.16 | -66% |
Open Text | OTEXF | $13.44 | 21% | $2.31 | 0% |
Broadcast.com* | BCST | $41.95 | 19% | $6.70 | 133% |
CMG Info | CMGI | $49.63 | 18% | $7.63 | 228% |
Concentric | CNCX | $17.75 | 17% | $2.63 | 100% |
Yahoo! | YHOO | $84.63 | 17% | $12.38 | 144% |
Infoseek | SEEK | $21.00 | 17% | $3.06 | 95% |
24/7 Media* | TFSM | $10.63 | 16% | $1.50 | -24% |
Mindspring | MSPG | $35.13 | 16% | $4.88 | 213% |
Open Market | OMKT | $11.44 | 15% | $1.53 | 19% |
Amazon.Com | AMZN | $92.25 | 15% | $12.30 | 206% |
Network Solutions | NSOL | $31.81 | 15% | $4.06 | 142% |
Broadcom* | BRCM | $68.50 | 15% | $8.69 | 185% |
PSINet | PSIX | $14.31 | 15% | $1.81 | 179% |
RealNetworks | RNWK | $19.88 | 14% | $2.38 | 43% |
WavePhore* | WAVO | $6.00 | 13% | $0.69 | -36% |
America Online | AOL | $95.25 | 10% | $9.00 | 110% |
CDnow | CDNW | $9.88 | 10% | $0.88 | -38% |
Netscape | NSCP | $23.00 | 9% | $1.88 | -6% |
Verio* | VRIO | $23.25 | 9% | $1.88 | 1% |
Axent | AXNT | $17.19 | 8% | $1.31 | 0% |
IDT Corp | IDTC | $17.25 | 8% | $1.25 | -15% |
N2K | NTKI | $8.75 | 8% | $0.63 | -40% |
Network Associates | NETA | $34.44 | 7% | $2.38 | -35% |
VocalTec | VOCLF | $8.81 | 7% | $0.56 | -57% |
GeoCities* | GCTY | $22.75 | 6% | $1.38 | 34% |
E*TRADE | EGRP | $19.00 | 6% | $1.13 | -17% |
Egghead.com | EGGS | $7.50 | 4% | $0.31 | 15% |
ISS Group* | ISSX | $28.38 | 4% | $1.13 | 29% |
Broadvision | BVSN | $22.13 | 4% | $0.88 | 240% |
CheckPoint Software | CHKPF | $20.00 | 4% | $0.75 | -51% |
Doubleclick | DCLK | $25.63 | 4% | $0.88 | 51% |
Lycos | LCOS | $27.69 | 4% | $0.94 | 34% |
Cylink | CYLK | $8.19 | 3% | $0.25 | -16% |
Onsale | ONSL | $18.50 | 3% | $0.50 | 3% |
CNET | CNWK | $44.25 | 3% | $1.13 | 193% |
CyberCash | CYCH | $8.50 | 1% | $0.13 | -33% |
Spyglass | SPYG | $12.50 | 1% | $0.13 | 153% |
@Home Network | ATHM | $33.69 | 1% | $0.19 | 34% |
CKS Group | CKSG | $14.00 | -1% | -$0.13 | -1% |
Security First Net Bank | SFNB | $12.50 | -3% | -$0.38 | 72% |
Exodus* | EXDS | $25.75 | -4% | -$1.00 | 72% |
Sportsline USA | SPLN | $19.13 | -5% | -$0.94 | 78% |
Mecklermedia | MECK | $21.31 | -5% | -$1.19 | -14% |
Verisign | VRSN | $28.25 | -6% | -$1.75 | 102% |
USWeb | USWB | $10.63 | -26% | -$3.81 | 13% |
* change from IPO 1998 | |||||
TOTAL | 1,302.14 | 11% | 133.50 | 50% | |
SIMPLE AVERAGE | 27.13 | 11% | 2.78 | 50% |
News and moves:
announced that its Internet World India trade show drew an audience of
25,000 during August 25-28.
This is the first year of the event. Mecklermedia’s global presence
includes Internet World trade shows and licensed publications throughout
Canada, Mexico, South America, Europe, the Middle East, Africa, Asia, and
Australia, and Internet.com.
all year, gets some recognition for its RSA data encryption that was used
as the underlying technology when President Bill Clinton and Irish Prime
Minister Bert Ahern sign an Internet e-commerce agreement with “digital
signatures.”
on the Web by eMarketer, which evaluated more than 100 online music sites
looking at selection, price, usability and presentation. We believe that
despite the plans of Amazon.com to also ramp up music sales (NASDAQ:AMZN),
CDnow has the lead in sales and usage to stay at the fore of Web-based
music retailing.
become AOL’s auction provider for the next three years. While details of the
deal are not known, AOL also usually gets warrants or revenue splits on
top of these sorts of agreements.
Internet
Investment Symposium ’98 @ Fall Internet World!
“The power
conference to network with industry influencers and decision makers.” –
Yahoo co-founder Jerry Yang
Click the above link now and get this
year’s power lineup.
