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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: robert duke who wrote (10152)	7/22/1999 9:11:00 AM
From: brb	Read Replies (1) \| Respond to of 28311

From Schwab's news center. I've noticed that GNET is getting mentioned more and more in their news the last couple of weeks. General Commentary: Techs staged a lukewarm recovery try Wednesday, with a number of the momentum favorites pacing the gains... But lack of volume and uninspiring breadth figures suggest that tech sector will resume its decline in the days to come... Whether the sell-off resumes today depends largely on how market reacts to earnings news from America Online (AOL 115 7/8 +2 11/16), Amazon (AMZN 125 7/16 +5 5/16) and Go2Net (GNET 77 3/4 +1 5/16)... Net leaders posted results after the close... On balance the reports were good... What they weren't was great... In reporting results of $0.13, ($0.51) and $0.07, the three beat or were in line with First Call estimates of $0.11, ($0.51) and $0.05... But the number of new subscribers (+755k) at AOL was weaker than expected; GNET's positive earnings surprise of 40% was lower than in previous quarters... GNET's sequential revenue growth of 32% was tremendous-- unless you compare it to the previous quarter's sequential gain of 66%; and AMZN failed to supply the usual upside earnings surprise while coming in light on revenues which were $314.4 mln, up a solid 170.7% from the year-ago period, but an anemic 7.1% increase over Q1... That was at the low end of analysts' estimates and calls into question Amazon's growth rate. ... The early reaction in after hours trading has been less than impressive with shares of AOL down 1 3/16 and AMZN down 3 7/16 (despite company declaring a 2-for-1 stock split)... Chances are they will move lower still in regular trading, and that the Internet troops will follow their leaders... Historically, the best way to play the volatile Net sector has been to buy the group 30 days prior to Yahoo!'s (YHOO 152 +9 7/8) report and sell after Amazon's (AMZN) number... With most of the big Net companies now having reported results, sentiment in the market beginning to deteriorate, and supply continuing to pour in (especially in the Net sector), Briefing.com sees no reason to think history won't repeat itself again this quarter... And as goes the Net industry so goes the sector.