Data Broadcasting rose 6 1/2 to 26 3/8 on Nasdaq as the proposed initial public offering of the company's Internet business continued to generate positive sentiment. Data Broadcasting has said it plans an IPO of MarketWatch.com, its real-time business news and data Web site, which would come to market this month. Data Broadcasting will be a majority shareholder of MarketWatch once it goes public and stands to benefit if MarketWatch taps the fervor investors have for Internet-related stocks. Indeed, anticipation of the MarketWatch offering is fueling the gain in the company's stock, one analyst said.
Data Broadcasting rose 6 3/8 to 26 1/4 ahead of the proposed initial public offering of the company's Internet business planned for later this month. The company's MarketWatch.com provides real-time business news and data.
Other stocks of interest:
Programmer's Paradise shot up 4 5/8 to 15 3/4, with the software retailer citing the effect of strong online sales, which boosted overall sales by 30% to more than $230 million for the year ended Dec. 31. The Shrewsbury, N.J.-based company sells software for microcomputers, servers and networks, with a focus on providing software products to people who design, program, document, support and use software.
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Sporting goods marketer Sport Supply Group rose 1 to 9 1/2 after the Farmers Branch, Texas-based company announced plans to offer more than 7,500 products on the Internet beginning in mid-1999
Scientific-Atlanta shares tacked on 2 1/8 to 29 3/8 after the company said late Thursday that its second-quarter operating net will top current Wall Street estimates of about six cents a share. The communications and cable-equipment concern said higher-than-anticipated domestic sales of Explorer 2000 interactive digital set-tops and network transmission products boosted its second-quarter results. The stock reached a 52-week high of 31 1/4 intrasession.
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