Now the gap (at $15) has been filled, it sets the stage for OTEXF to run into its 20's. Also more positive news is coming on its way when the Documentation' 98 opens on March 9-12 in San Jose.
Meanwhile, the "cheap" internet stock OTEXF (as pointed out by Barron) should benefit from today's action in the Internet section after Clintion's comment.
Friday February 27, 11:22 am Eastern Time
Internet shrs surf to new highs on Clinton comment
NEW YORK, Feb 27 (Reuters) - Internet stocks hit record highs Friday morning on the heels of President Clinton's proposal to ban U.S. and international taxes on cyberspace business transactions.
''You still see some of the glow of President Clinton's statement (Thursday) that he was against an Internet tax,'' Hambrecht & Quist analyst Paul Noglows told Reuters.
Internet search engine provider Yahoo Inc (YHOO - news) soared 6-1/8 to a new record high of 74-1/4 and electronic book seller Amazon.Com Inc (AMZN - news) hit a record high of 79-5/8 but traded at 77-1/2, up 4-3/4, later in the morning.
''There should be no special breaks for the Internet, but we can't allow unfair taxation to weight it down and stunt the development of the most promising new economic opportunity in decades,'' Clinton told some 300 high-tech industry executives at a San Francisco conference Thursday.
Other Internet merchandizers and providers that saw their stocks appreciate Friday morning included: search engine provider Excite Inc (XCIT - news), up 3-9/16 at 47-3/4; high-speed access Internet provider At Home Corp (ATHM - news), up 3-1/16 at 35-3/16; and direct marketer CMG Information Services Inc (CMGI - news), up 2-3/4 at 46.
Internet auctioneer Onsale Inc (ONSL - news) also was up 1-15/16 at 27-3/4, while Internet advertising company DoubleClick Inc (DCLK - news) rose to a new high of 33, up 3-1/4. DoubleClick went public at $17.00 a share Monday.
Internet merachndising and related advertising revenues will be ''an important source of revenues for these companies going forward,'' said Noglows of firms like Yahoo.
Other Internet companies that derive part of their revenues freom merchants peddling their wares in cyberspace indeed saw their stocks rise. Lycos Inc (LCOS - news) gained 1-7/8 to 41-9/16; Infoseek Corp (SEEK - news) rose 1-3/16 to 16-3/16.
Good luck. |
