Tuesday June 9, 1998
Internet Stocks Lead Tech Rally Internet stocks rode a series of recent deals to lead technology stocks up Tuesday. The Nasdaq Composite Index finished at 1800.76, up 12.99, while the Dow Jones Industrial Average fell 19.68 to 9049.92. Cnet [CNET] rocketed upward after NBC said it will buy 5 percent of the technology media company. Cnet gained 27 percent on the day, up 12 1/8 to 45 1/8. Other online media companies also rose. Sportsline USA , which operates the CBS Sportsline website, increased 2 3/8 to 29 5/8 and America Online [AOL] maintained its positive momentum, closing up 3 7/8 to 88 5/8. Online bookseller Amazon.com gained 5 to 51 1/4. Yahoo [YHOO], which Compaq has chosen to become the default home page for Compaq's Presario Internet PC, continued the climb it started earlier in the week. Shares rose 8 1/2 to 117 7/8. Stocks of Yahoo rivals also rose. Excite [XCIT], which last week announced a content deal with Disney, rose 3 1/4 to 65. Lycos [LCOS], whose secondary stock offering could happen Wednesday, rose 3 5/16 to 53 9/16. Netscape [NSCP] advanced 1 3/8 to 24 3/16. CMG Information Services [CMGI], which has stakes in several Internet companies, including Geocities and Lycos, gained 4 5/8 to 44 5/8. Also on the Nasdaq, Dr Solomon's Group [SOLLY] advanced 3 3/8 to 35 1/2 after the announcement of its sale to Network Associates, a network security firm. Network Associates [NETA] rose 1 7/8 to 43 7/8. Novell [NOV] fell 3/16 to 12 and Microsoft [MSFT] gained 1 3/8 to 87 1/16. Macromedia [MACR] climbed 1 to 17 1/8 after Netscape said it would incorporate Macromedia's Flash software into Navigator. Chip makers generally advanced. Intel [INTC] rose 7/8 to 70 3/16, despite Monday's news that the FTC filed an antitrust complaint against the company. Analog Devices rose 1 7/16 to 25 7/8, LSI Logic closed up 1 1/8 to 25, Micron [MU] advanced 1 1/8 to 25 7/8, and Texas Instruments [TXN], which is selling its dynamic RAM unit to Micron, gained 2 3/8 to 55 7/8. Lucent [LU] added 1 7/16 to 74 1/2, as investors continued to applaud the telecom equipment maker's latest acquisition, that of SDX Systems, British maker of business phone systems. Among other telecom and networking equipment stocks, Ascend Communications [ASND] rose 2 to 49, Qualcomm [QCOM] gained 1 1/4 to 53, and Cisco [CSCO] added 2 to 79 1/2. Telecom carriers gained as well. Qwest [QWST] advanced 1 3/16 to 33 11/16, Nortel added 1 3/8 to 64 15/16, Bell Atlantic [BEL] rose 1 3/4 to 96 1/2, and Worldcom [WCOM] climbed 3/8 to 45 1/4. Ameritech [AIT] ended the day up 1 1/16 to 43 3/16. Computer hardware makers ended mixed. IBM [IBM] eked out 7/16 to 119 1/4, Dell [DELL] gained 1 13/16 to 85 1/2, while Compaq [CPQ] rose 7/8 to 29 5/8. Storage drive maker Syquest [SYQT] finished up 5/32 to 1 11/16 and was the most heavily traded stock on the Nasdaq following announcement of a deal to include the company's cartridge drives in Compaq PCs. Seagate [SEG], a maker of disk drives, rose 1 3/8 to 23 after Salomon Smith Barney upgraded the stock to a buy.   company symbol close change Amazon.com, Inc. AMZN 51 1/4 +10.8% Electronics For Imaging, Inc. EFII 22 1/8 +10.6% Exabyte Corp. EXBT 7 7/8 -8.7% Iomega IOM 6 1/2 -7.1%   No Death Knell For Dell At Boeing Piper Jaffray attempted to put to rest Monday rumors IBM had displaced Dell at Boeing for an account worth about $60 million a year. Cnet Shares Jump On NBC Deal Shares of Cnet soared more than 24 percent on Tuesday after NBC said it will buy 5 percent of the company as well as minority ownership in Cnet's Internet gateway site, Snap. As a result of the deal, NBC and Cnet will operate Snap as a joint venture. Network Associates To Acquire Dr Solomon's Antivirus developer Network Associates will acquire competitor Dr Solomon's Software for an estimated $640 million, the companies said Tuesday. Former Netscape CTO Launches New Company A week after stepping down as Netscape's chief technology officer, Eric Hahn has resurfaced as head of a Silicon Valley start-up that aims to help other start-ups get off the ground. Full Story Index.   BT Alex Brown upgraded Alcatel Alsthom [ALA] to strong buy from buy. http://www.techinvestor.com   To unsubscribe, visit our unsubscribe page, or reply to this message with the words "unsubscribe TechInvestor-Direct" in the subject line. Send your TechInvestor Direct editorial feedback to techinvestor@netguide.com. © 1998 CMP Media Inc.			No New Filings stock lookup ticker symbol(s):   Quote   Chart   Company Profile   Zacks Report symbol lookup J.D. Edwards [JDEC] has long been a leading provider of enterprise resource-planning software for companies with revenue from $50 million to $1 billion. Yet investors weren't keen on the stock because they perceived, and rightly so, that the Denver-based vendor was dependent on its WorldSoftware for IBM AS/400 operating systems, a slow-growth market. However, since the company went public in September 1997, it has positioned itself to become a more important player in the ERP market, and its prospects over the next two years look bright.   - Bill Schaff Search CMPnet Advanced Search Unsubscribe here