| The gill-less wonders (Disney, NBC, AT&T, and a growing group of large firms) discover there are no evolutionists in the Web arena. Only buyers. The good news is that means payoff for early believers and also makes way for a new wave of firms to march onto Wall Street's Web parade.
|
|
23-Jun-98 |
point change |
% change |
|
ISDEX |
150.88 |
5.56 |
3.83% |
|
ISDEX Price Wtd. |
1,695.41 |
87.59 |
5.45% |
|
NASDAQ |
1,844.57 |
38.75 |
2.15% |
|
DJIA |
8,828.46 |
117.33 |
1.35% |
Mindspring (NASDAQ:MSPG) continues its aggressive buying spree with an agreement to acquire two other Internet service provider accounts the past week. June 22 Mindspring announces a deal for the consumer subscribers at I-Way Networks of New Orleans and June 15 it agreed to acquire Pensacola Internet of Pensacola, Florida's consumer accounts. No terms disclosed. Mindspring's rollup reminds us of the similar consolidation that took place in cable TV 20 years ago. Size matters.
PairGain (NASDAQ:PAIR) buyout rumors persist as the larger networking and telecommunications firms go hunting for new-age communications solutions. PairGain just shipped its 1 millionth DSL (Digital Subscriber Line) unit at a time when high-speed services to consumers begin to become reality. We expect by the year 2000 that the Internet could be 1.5 megs per second to most users through software and hardware techniques. PAIR, Inktomi (NASDAQ:INKT) and Broadcom (NASDAQ:BCOM) may play central roles in that happening, as well as Intel (NASDAQ:INTC).
CitySearch files for an initial public offering. Wants to raise $50 million. Will Wall Street say welcome? More in a future Internet Stock Report.
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Internet Market Close Report for 1998.06.23