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:
