Article 5 of 200
Tech Stocks/Intel Outlook -3: CDNow, N2K Shrs Up >CDNW
NTKI
11/11/98
Dow Jones News Service
(Copyright (c) 1998, Dow Jones & Company, Inc.)
Shares of K-Tel competitors CDNow Inc. (CDNW) and N2K Inc. (NTKI)
also were up Wednesday after N2K Chief Executive Jon Diamond said on
CNBC that the online music stores will have 1.2 million unduplicated
customers once they complete their planned merger.
Shares of CDNow were up 3 1/2, or 29.2%, to 15 1/2, while shares of N2K
were up 3 1/4, or 34.9%, to 12 9/16.
Shares of CyberShop International Inc. (CYSP) were up 2 3/4, or 30.3%, to
11 13/16, driven by expectations of robust online shopping during the
holidays.
Also up Wednesday were shares of GeoCities (GCTY), which earlier said it
has agreed to acquire Starseed Inc., a provider of online member groups.
The stock was up 1 3/8, or 3.2%, to 43 3/4.
Finally, shares of Excite Inc. (XCIT) were up 2 1/16, or 4%, to 53 11/16
after the company said Bank One Corp. (ONE) plans to create a full-service
financial center on its site.
Other Web stocks were generally flat to lower. Shares of eBay were down 4
1/2, or 3.4%, to 126 3/8. The stock had surged from its close at 84 on
Friday.
Likewise, shares of Inktomi were down 2 7/16, or 1.9%, to 127 5/8 after the
stock jumped from 105 Friday.
Among other big names in the group, America Online Inc. (AOL) was down
1 1/4, or 0.9%, to 132 1/4. Yahoo was down 1 1/2, or 0.8%, to 175 1/16.
And shares of Amazon .com Inc. (AMZN) were down 2 5/8, or 2%, to 129
1/8.
Finally, shares of a newly public Internet company, EarthWeb Inc. (EWBX),
shot to as high as 59 after the stock priced at $14. EarthWeb distributes
online information to technology professionals.
-Joelle Tessler; 201-938-5285
-Johanna Bennett; 201-938-5670
(END) DOW JONES NEWS 11-11-98
12:15 PM |
