Internet stocks showed comeback power since June 2 with ISDEX, The Internet Stock Index, gaining an impressive 7% compared to the broad market’s less than 2% posting.
Leading the turnaround for the group, which was headed south in early summer doldrums, was CNET (NASDAQ:CNWK) which unloaded Snap! off its balance sheet while it lets NBC pay to grow its equity in the Web directory service. The new sign on the door: “Snap is now an NBC property.” Or it certainly will be if NBC pursues its 60% rights, which some observers think could go further.
The bubbling media-Web space led to speculation and some discounted deal valuations in a handful of stocks in ISDEX, notably in content and navigation.
The numbers June 2–June 9:
Mecklermedia’s | 09-Jun-98 | % change | Point change | |
ISDEX . | close | from | from | |
The Internet Stock Index | 02-Jun-98 | 02-Jun-98 | ||
ISDEX | 139.63 | 7.1% | 9.21 | |
ISDEX | 1,445.88 | 9.7% | 128.19 | |
NASDAQ | 1,800.76 | 2.2% | 38.97 | |
DJIA | 9,049.92 | 1.8% | 158.68 | |
CNET | CNWK | $45.13 | 33% | $11.13 |
Sportsline | SPLN | $29.63 | 30% | $6.88 |
Network | NSOL | $43.63 | 25% | $8.69 |
RealNetworks | RNWK | $26.38 | 22% | $4.72 |
Mindspring | MSPG | $63.25 | 19% | $9.97 |
Amazon.Com | AMZN | $51.25 | 17% | $7.56 |
Doubleclick | DCLK | $37.00 | 17% | $5.25 |
Earthlink | ELNK | $63.50 | 15% | $8.50 |
Spyglass | SPYG | $10.94 | 15% | $1.44 |
Concentric | CNCX | $25.88 | 15% | $3.38 |
Excite | XCIT | $65.00 | 15% | $8.38 |
PairGain | PAIR | $15.06 | 15% | $1.94 |
America | AOL | $88.63 | 15% | $11.25 |
Infoseek | SEEK | $27.25 | 14% | $3.44 |
E*TRADE | EGRP | $23.44 | 14% | $2.94 |
USWeb | USWB | $20.75 | 14% | $2.56 |
Broadvision | BVSN | $17.38 | 13% | $2.06 |
Yahoo! | YHOO | $117.88 | 12% | $13.06 |
@Home | ATHM | $38.00 | 12% | $4.00 |
CheckFree | CKFR | $25.06 | 11% | $2.53 |
PSINet | PSIX | $11.19 | 10% | $1.03 |
Onsale | ONSL | $26.25 | 9% | $2.25 |
Netscape | NSCP | $24.19 | 8% | $1.81 |
Open | OMKT | $17.25 | 8% | $1.28 |
Network | NETA | $43.88 | 8% | $3.25 |
CMG | CMGI | $44.63 | 8% | $3.13 |
IDT | IDTC | $27.25 | 7% | $1.88 |
Security | SFNB | $10.38 | 6% | $0.63 |
CKS | CKSG | $21.25 | 6% | $1.13 |
Egghead.com | EGGS | $7.81 | 5% | $0.38 |
Cylink | CYLK | $10.56 | 5% | $0.50 |
Mecklermedia | MECK | $21.00 | 4% | $0.81 |
Cyberguard | CYBG | $12.31 | 4% | $0.44 |
Axent | AXNT | $25.38 | 1% | $0.22 |
CheckPoint | CHKPF | $28.50 | 0% | $0.13 |
CDnow | CDNW | $17.31 | 0% | $0.06 |
Versant | VSNT | $5.13 | 0% | $0.00 |
WavePhore | WAVO | $12.19 | -1% | -$0.06 |
Metricom | MCOM | $9.69 | -1% | -$0.06 |
Broadband | BBTK | $5.56 | -1% | -$0.06 |
Lycos | LCOS | $53.56 | -1% | -$0.78 |
Intuit | INTU | $46.00 | -2% | -$0.81 |
Verisign | VRSN | $27.38 | -3% | -$0.75 |
Open | OTEXF | $16.81 | -3% | -$0.56 |
Secure | SCUR | $9.50 | -5% | -$0.50 |
Security | SDTI | $19.50 | -5% | -$1.03 |
CyberCash | CYCH | $14.25 | -6% | -$0.94 |
N2K | NTKI | $19.13 | -7% | -$1.38 |
VocalTec | VOCLF | $12.44 | -20% | -$3.06 |
NewsEdge | NEWZ | $10.63 | -21% | -$2.75 |
TOTAL | 1,445.88 | 10% | 125.81 | |
SIMPLE AVERAGE | 28.92 | 10% | 2.52 |
The news behind the moves:
