Looks like we were not the only IT stock down last week....From launchingpad Email....
With the global financial markets adversely affecting the Stock market,
the Internet Telephony Sector experienced its worst week of the year.
Dropping over 12%, there was no protection to be found in Large, Mid or
Small Cap stocks, as all felt the effects.
Qwest and Level 3, which were both added to the Nasdaq 100 in the past
week, followed the trend of that group and both experienced some of
their largest drops of the year. Qwest is down close to 25% in the last
few weeks, and Level 3 close to 20%. The Mid Cap sector that had seen
some stability among the more recent turns of the market, joined into
the marketwide drop, with ETEL and RMII, both dropping over 25% last
week. IDTC, which had avoided a majority of the correction, finally
succumbed and joined in the overall sector weakness. The previously
damaged Mids , NSPK, NMSS, and VOCLF lost much of any started recovery
and are still sitting near their respective lows of the year. The five
dollar and under Internet Telephony stocks were once again a mixed bag
as this group included few of the only stocks to gain in the teeth of
the further market downturn. LKON and CAGI were two who bucked the trend
and rose. Others lost a smaller percentage as the damage has been done
over the course of the last several months.
While the loss in price has been dramatic on several of the IT issues,
many investors view this as an undervalued sector now and anticipate
bargain hunting to begin within the next two weeks. The value of the
sector now seems to be more inline with current revenues, as opposed to
future earnings, making for many good values. As always, we will be
watching to see which issues break the pattern first and signal which
direction the sector will have heading towards the fall earnings, which
should be an important season for the sector.
The Internet Telephony Index
For the week 8/24/98 to 8/28/98
Symbol Price Week YTD% Year Open Week Open
Change
ACCR 0.81 -15.63% -50.15% 1.63 0.96
ANET 5.87 2.09% -38.21% 9.50 5.75
ARLCF 3.00 -15.73% 20.00% 2.50 3.56
BRKT 12.56 -16.93% 6.89% 11.75 15.12
CAGI 1.13 3.67% 178.33% 0.41 1.09
CMDL 8.62 -20.26% -7.12% 9.28 10.81
DGIV 2.31 -13.81% 149.73% 0.93 2.68
DLGC 28.03 -10.65% -34.05% 42.50 31.37
ETEL 11.43 -26.54% 112.65% 5.38 15.56
FAXX 3.00 -14.29% 14.29% 2.63 3.50
FTEL 1.03 -10.43% -74.04% 3.97 1.15
HYC 8.62 -13.80% -39.51% 14.25 10.00
IDTC 16.68 -11.61% -18.13% 20.38 18.87
INTL 14.31 -4.60% -27.08% 19.63 15.00
LKON 1.37 9.60% 144.64% 0.56 1.25
LVLT 33.18 -15.18% -16.53% 39.75 39.12
NMSS 11.50 -8.00% -74.59% 45.25 12.50
NSPK 8.12 -22.67% -67.68% 25.13 10.50
NTRX 1.18 0.00% 4.89% 1.13 1.18
OZEMY 13.25 -29.78% 68.25% 7.88 18.87
QWST 29.81 -10.83% -0.84% 30.06 33.43
RMII 10.12 -27.71% 237.33% 3.00 14.00
VOCLF 8.00 -7.83% -61.21% 20.63 8.68
-12.21% 18.60%
***********************************************************************
ITWrap Up
Industry Links
Legitimacy comes from many areas, and these first two items put the
stamp of validation on Internet Telephony!
LEVEL 3 COMMUNICATIONS TO JOIN THE NASDAQ-100 INDEX
level3.com
Qwest Communications to Join Nasdaq 100 Index
corporate-
ir.net/ireye/ir_site.zhtml?ticker=qwst&script=410&layout=12&item_id=7434
Deutsche Telekom Internet Unit to Use VocalTec Ensemble Architecture for
New PC-To-Phone Service
vocaltec.com
TXC and VocalTec Present Internet Telephony 101
itxc.com
FaxSav and Virtually Commerce Bring Internet Fax to Associations
faxsav.com
ICG Netcom Rolls Out IP Telephony Service to 31 U.S. Cities
netcom.com
Ohio Public Utilities Commission Rules in Favor of ICG Netcom in Dispute
with Ameritech
biz.yahoo.com
e-Net's Telecom 2000T Wins "Editor's Choice" Award from Internet
Telephony Magazine
datatelephony.com
Consumer Internet Telephony Product Ready for Retail Launch; NetConnect
Allows Consumer Toll-Free Calling
biz.yahoo.com
Inter-Tel's Technology Drives New Swisscom IP Telephony Service
inter-
tel.com/domino/press.nsf/5512f42190703c0e072565300059a1ae/922fb4bbdd246f0d0725666c0062f
864?OpenDocument
Dialogic and Excel Agree to Coordinate Development and Support
Initiatives
biz.yahoo.com
Hypercom Announces Agreement with Equitable Bank To Streamline
Transactions in Philippines
biz.yahoo.com
IP Gateway Vendor Swaps Switch For Plug-In Card
dailynews.yahoo.com
y/19980824/19980824402
RESEARCH ALERT-Bear Stearns up IDT Corp
biz.yahoo.com
Carnegie International Corporation and MAVIS Automated Attendant System
To Be Featured on National TV on CNBC's "The New Competitors"
biz.yahoo.com
Franklin's Executives Demonstrate Confidence
ftel.com
Natural MicroSystems and Genesys Partner to Equip Call Centers with
Award-Winning IP and PSTN Telephony Technology
biz.yahoo.com
***********************************************************************
|
