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To: Lizzie Tudor who wrote (69351)	7/24/1999 4:28:00 PM
From: Glenn D. Rudolph	Respond to of 164684

Internet stocks mixed; InsWeb sizzles after IPO By Ian Simpson NEW YORK, July 23 (Reuters) - Internet share prices were mixed Friday afternoon, with little news to direct the volatile sector, although the stock of online insurance provider InsWeb skyrocketed in its first day of trading. "It's just like everybody is happy that the week is over and is leaving early," said Lance Zipper, head of equity trading at Brean Murray & Co. The American Stock Exchange's 48-share Internet index <.IIX> was off 1.57 points, or 0.53 percent, at 291.28 in early afternoon. The gauge has slipped 11 percent in the last two weeks. The sector has been weighed down in part by quarterly results from such high-profile companies as America Online Inc. <AOL.N> and retailer Amazon.com Inc. <AMZN.O> that failed to excite Wall Street. America Online was off 3-13/16 at 106-11/16. But Amazon.com recovered a bit from some slight declines and traded early Friday afternoon up 1-3/16 at 108-3/8. Among active issues, Internet sports news publisher SportsLine USA Inc. <SPLN.O> fell 7-7/8 at 31-1/8 after the Internet sports news publisher reported a widening net loss in the second quarter. Deutsche Banc Alex. Brown cut its rating on the shares to buy from strong buy. Bear Stearns analyst Matt Esh deepened his estimate for 1999 and 2000 losses, but raised his estimate for revenues. Ullas Naik, an analyst at FAC Equities in Boston, said "the bloom is off" Internet businesses that deal with consumers, such as retailers and service providers. Part of the reason for the decline is because of the flood of stock from new companies in the field. "The upside on the stocks is not what it used to be," he said. The focus was likely to shift to companies that provide business-to-business services, Naik said. Among leading names in that group, VeriSign Inc. <VRSN.O> an Internet security software company, was up 4-9/16 at 80-3/4 after it reported second-quarter earnings that topped Wall Street forecasts. BancBoston Robertson Stephens analyst John Powers reiterated his buy rating on VeriSign and raised his earnings-per-share estimates. Shares in InsWeb <INSW.O> soared in their first day of trading after the online insurance services provider was priced at $17 a share. The stock hit a high of $44 before easing. InsWeb was up 19-5/16 at 36-5/16. Among Internet stories and headlines: -- BancBoston Robertson Stephens Reiterates Buy Rating on VeriSign 1/8nPRN7NF043 3/8. -- SportsLine quarterly revenues rise as losses widen 1/8nN22676002 3/8. -- FEATURE - Star Wars publisher DK <DKN.L> eyes Internet 1/8nL08540479 3/8. -- InsWeb shares jump on first day of trade 1/8nN23227135 3/8. REUTERS Rtr 15:04 07-23-99