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Up, Up and Away

Written By
Steve Harmon
Steve Harmon
Mar 9, 1999
2 minute read

ISDEX soars 8% as investors pour into some of the better-known stocks in this 50-group leading index.

CMGI adds $40.8125 or 27% today to $193 as believers in its slew of investments start eyeing what that means if the Internet IPO market stays hot.

CNET (NASDAQ:CNET) also zooms today, up 21% to $203 per share on its move into enabling commerce on its popular Web site. Also something to consider: CNET’s off-balance sheet equity held in SNAP!, Vignette and BuyDirect.com. Today’s snapshot:



























 
08-Mar-99
point change
% change

ISDEX
347.76
27.01
8.42%

NASDAQ
2,397.62
60.51
2.59%

DJIA
9,727.61
-8.47
-0.09%

  • Broadcom (NASDAQ:BRCM), which has taken a beating the past few weeks, rallies today on buy recommendations from several investment houses. We dropped it from our ’99 list, but also think it could represent a great target for any large firm serious about networking. I’ve already mentioned IBM, Cisco, Motorola look like natural buyers. Even without, Broadcom holds the marketshare leader position in cable and DSL chips.
  • Network Solutions (NASDAQ:NSOL) continues to find legs, up 21% to $210.6875 per share, even as ICANN is set to deliver its recommendations on how the registrar space should be opened up. I think Network Solutions has the enviable default status for now and a huge marketshare lead on any one rival. Network Solutions also misses out on about six businesses that complement what it’s doing. Revenue left on the table so to speak.
  • VeriSign (NASDAQ:VRSN) wins approval for 128-bit encryption exports, which I see as a big win as it seeks to go global with its digital certificate and security offerings.
    •
    Steve Harmon
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