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Technology Stocks : Beyond.com (BYND) the NEW software.net.... -- Ignore unavailable to you. Want to Upgrade?

To: rest42 who wrote (248)	6/24/1999 10:59:00 AM
From: fiberman	Read Replies (1) \| Respond to of 422

The Analysts do not think it is a go!! Beyond.com stock jumps on Amazon.com rumor SEATTLE, June 23 (Reuters) - Beyond.com Corp. stock surged 26 percent Wednesday on a rumor the California-based online software retailer might be bought by Internet giant Amazon.com Inc., traders said. Beyond.com was up $6.69 at $32.31 after the unsourced rumor was published on JAG Notes, a subscription-based Internet newsletter. Officials of both Amazon.com and Beyond.com declined to comment. According to the rumor Amazon.com, the Seattle-based online retailer offering "Earth's biggest selection" of books, videos and other products, would offer $48 a share for Beyond.com. Analysts said similar rumors had been circulating for months and said such a deal was unlikely. "Anything is possible, but the timing would be unusual to say the least," said analyst Lise Buyer of CS First Boston. She said Amazon.com "has a lot on its plate" with several new distribution centers as well as a rapidly expanding line of products. The rumored $48-a-share price would value Beyond.com at $1.36 billion, much bigger than any acquisition Amazon.com has attempted. "I would think Amazon could build a software store at considerably less cost than $1.4 billion," said analyst Derek Brown of Volpe Brown Whelan & Co. He also noted that in the past Amazon.com has focused on buying privately-held companies with unique, proprietary technology. "They have not focused on branded public companies," he said. US OPTIONS - Beyond.com vols, volume rise on talk CHICAGO, June 23 (Reuters) - Implied volatility and volume in options on Beyond.com Corp. <BYND.O> popped up Wednesday on unconfirmed talk that the California-based online software reseller might be bought by Amazon.com Inc. <AMZN.O>, traders said. "The stock ran up to around $26 (early), and then a rumor circulated on the Internet that Amazon was going to buy them," said Ed Dolinar, market maker in the option at the Chicago Board Options Exchange. The rumor specified a $48 purchase price, he said. Amazon.com declined to comment on the rumor. Beyond.com officials could not immediately be reached for comment. Implied volatility in the multiple-listed options climbed to around 125 percent in the July 30s, above the more-recent low-100-percent area, Dolinar said. An options strategist also cited the rumors in morning commentary as behind the vol rise, noting that options volume had been negligible before the rumor began circulating. Volume picked up as call buyers initially rushed in as the stock climbed, and then two-way flows emerged as the stock trimmed its biggest gains. "Volume's been pretty low the last week or two," Dolinar added, noting that the options volume has averaged closer to 600 to 1,000 contracts a day. "There hasn't been a lot of interest." But by 1226 CDT/1726 GMT Wednesday, roughly 4,553 calls and 1,213 puts combined from the CBOE and American Stock Exchange had changed hands. In the July 30 calls, which on the CBOE rose 4-1/8 to 5-1/2, combined CBOE and AMEX volume totaled about 1,738 on open interest of 1,067. Dolinar noted, however, that the Beyond.com's implied vols have popped up sharply before on unfounded takeover rumors. "Certainly, there's been speculation for months that it'd be a good fit for Amazon," he added of the buyout talk. Shares of Beyond.com rose 6-7/16 to 31-1/16 on Nasdaq market volume of 9.0 million shares. Shares of Seattle-based online retailer Amazon.com fell 1-3/8 to 116-1/8 on Nasdaq volume of 4.8 million shares.