January 12, 2000 - Cobalt Group To Offer Vehicle Listings To Excite@Home
SEATTLE -- Cobalt Group Inc. (CBLT) agreed to offer its 280,000 vehicle listings to Excite@Home (ATHM).
Financial terms weren't disclosed.
In a press release Wednesday, Cobalt Group said Excite@Home will integrate Cobalt's car listings into Excite.com's portal site and distribute the listings across Excite Classifieds.
Cobalt Group provides automotive electronic-commerce products and services. The company's shares last traded at 18 13/16, down 2 13/16, or 13.01%, on volume of 367,100 shares.
Also,
Adaptive Broadband Executives Were
Most Prescient Insider Traders of 1999
By LAURA SAUNDERS EGODIGWE
January 12, 2000
Staff Reporter of THE WALL STREET JOURNAL
At Home Corp. (now Excite At Home Corp.). Between April 26 and May 7, five insiders at the Redwood City, Calif., Internet-services provider sold 250,000 shares at between $71.45 and $82.61 each. Figures are adjusted for a 2-for-1 stock split in June. At 4 p.m. on Nasdaq, the stock was at $37.125, down 55% since the sales. Excite declined to comment.
Maybe the XCIT half of the company looks at YHOO and wonders why ATHM isn't higher. It looks more like YHOO is the target to beat instead of AOL. Money is definitely flowing out of ATHM in that direction. I see Cobalt shareholders weren't happy with the news. Kiss of death to align with ATHM's poisonous touch now.
The past sales by insiders were telling. So were the dumps in Nov99 when it hit $55. I missed this for some odd reason. Usually my number one pet peeve is insider selling. CNBC missed the chance to ask Bell why he and Jermoluk sold off some shares. Guess those $120 targets didn't look too realistic to them.
insidertrader.com
I haven't seen so managers sell since the WMX fiasco last spring. Wonder why the press didn't beat ATHM board up over this.
Jack |
