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Technology Stocks : INFOSEEK (GO)

GO 9.540

-0.1%

Jan 9 9:30 AM EST

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To: OtherChap who wrote (2893)	3/11/1998 3:40:00 PM
From: nauset	Read Replies (3) of 9343

INTERNET STOCK REPORT With Steve Harmon Senior Investment Analyst "Where Wall Street Meets The Web" ________________________________ Commerce Is King: Action of Auction Fuels ONSALE Investors pushed commerce-friendly shares of ONSALE (NASDAQ:ONSL) up 31% the past week as a new breed of buyer scoured the Internet stock space looking for anything that could capitalize on the plethora of buyers and sellers moving to the Web. Our number crunching shows ONSL led the ISDEX pack followed closely by yet another high for (the YAH?) of Yahoo!, up 26% this year, 20% of that coming since March 3. We have a hard time believing in YHOO at anything above 10x sales despite the hoopla. Better hunting was found in Infoseek (NASDAQ:SEEK), the little stock that could. Long trading at a miserable discount to its peer groups--less than half, despite having solid traffic on its site--SEEK finally partly caught up. We think it'll take more than that to get it to move any more, with rumors published in many media that SEEK was a takeover candidate. Any one of the Internet group is a takeover candidate. No news there. Our sense tells us the big media companies still don't get it and probably won't bite. Anything less than 10 years old to them is "new media," and in a world where they count run of press and newsprint prices with a closer eye than the Web, good luck to them. Take New Century Network for example, the group of leading newspaper chains that attempted an Internet service announced yesterday it will close down after four years of effort. This provides a classic example of old media approaching the Internet like an extension of itself. In the meantime, check out InternetNews.com on a daily basis for real-time Internet industry news.

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