Joe,
EGGS -
Reuters, Thursday, February 04, 1999 at 23:34
SEATTLE, Feb 4 (Reuters) - Egghead.com Inc. rose in heavy
trading Thursday on persistent speculation the Internet
retailer could be a takeover target, analysts and traders said.
Egghead rose 3-5/8 to 21-1/8 on Nasdaq volume of nearly
nine million shares, compared with a daily average of 5
million.
An Egghead spokesman, citing company policy, declined to
comment.
The rumors seemed to be fueled in part by an article in the
online edition of Smart Money magazine that speculated
Egghead.com, among others, might be a good fit with Internet
retailing giant Amazon.com Inc (NASDAQ:AMZN).
An Amazon.com spokesman also declined comment, but analysts
said they doubted any such deal was in the works.
"If Amazon.com wanted to sell software they could go
straight to Ingram Micro," the big distributor, said Ken
Cassar, a retail analyst for Jupiter Communications.
But he and others said Amazon.com likely would do more
acquisitions in the future aimed at expand its offerings to
more product categories and more geographic markets.
Copyright 1999, Reuters News Service
|
