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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (79893)	10/6/1999 8:42:00 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

>>You need to get back to begging for IPO's on lines 2, 3 and 4. << I don't fill out forms, or stand in lines. If I want to go to the cinema, and there's a line. I come back another day. Unless I have to get in! Then that's different. Are you still getting your research from the Motley Fool? >> Internet stocks performed well due to positive buzz prior to the earnings announcement by Yahoo! (Nasdaq:YHOO) and favorable comments regarding the Internet sector from Lehman Brothers. The investment firm cited seasonality and strong advertising rates as factors leading to expected positive results in the sector, and Lehman singled out America Online (NYSE:AOL), Yahoo, CNET (Nasdaq:CNET) and Excite@Home (Nasdaq:ATHM) in its comments. Most of those stocks closed higher, with America Online up 6 (+5.29%) to 119 1/2, Yahoo! up 2 7/16 (+1.41%) to 175 3/4, and Excite@Home up 4 1/2 (+10.70%) to 46 9/16, while CNET shares fell 1 1/8 (-1.94%) to 57. In addition, Lehman Brothers initiated coverage of Ebay (Nasdaq:EBAY) with a $200 price target, sending Ebay shares up 10 1/2 (+7.44%) to 151 11/16. Online retail stocks were also higher on continued speculation of a strong "e-tail" (i.e., retail over the Internet) season heading into Christmas, with Amazon (Nasdaq:AMZN) up 4 (+5.10%) to 82 7/16 and Etoys (Nasdaq:ETYS) up 15.12% (up 10 3/8) to 79. Shares of Amazon were also helped by news that Wal-Mart's (NYSE:WMT) launch of its enhanced web-site, originally planned for November, may be delayed until early 2000. Wal-Mart shares were up 1/8 (+0.24%) to 51 3/8. A major development arose in the online drugstore sector, with Merck (NYSE:MRK) and CVS (NYSE:CVS) announcing an alliance whereby CVS will sell over-the-counter products on a web site run by Merck's Merck-Medco Managed Care unit. The move allows Merck to market drugstore products without building its own infrastructure and supply chain. In addition, Merck-Medco will allow its more than 50 million members to order prescriptions through CVS's site, after which they may obtain their prescriptions by going to a CVS store or by having them sent through the mail. The alliance brings together the wide brand name recognition of CVS, the 2nd largest U.S. drugstore chain, with the large membership base of Merck-Medco. Shares of Merck closed higher by 2 (+2.85%) to 72 1/8, as did shares of CVS, which surged 18.21% (up 6 3/4) to 43 13/16. Shares of online drug retailer drugstore.com (Nasdaq:DSCM) were off 10.92% (down 4 3/4) to 38 3/4 on the news. The alliance puts more of a spotlight on the IPO of PlanetRx.com, which is expected to take place on Thursday. In another online retail deal, ShopNow.com (Nasdaq:SPNW), and barnesandnoble.com (Nasdaq:BNBN) reached an agreement that gives ShopNow.com's large customer base access to barnesandnoble.com's extensive supply of books and magazines. Dwayne Walker, President and CEO of ShopNow.com, stated: "We are confident that this relationship will help consumers find the titles they are looking for at reasonable, discounted prices. This relationship demonstrates the power and reach of electronic commerce in the New Economy." Shares of ShopNow.com were unchanged at 12 1/4 while shares of barnesandnoble.com closed up 1 1/8 (+5.08%) to 23 1/4. Leading Internet and tech stocks performed as follows: Company $ Change % Change Close Amazon (Nasdaq:AMZN) + 4 -5.10% 82 7/16 America Online (NYSE:AOL) + 6 +5.29% 119 1/2 Cisco (Nasdaq:CSCO) +19/64 +0.41% 71 59/64 CMGI (Nasdaq:CMGI) +5 1/4 +5.23% 105 11/16 Dell (Nasdaq:DELL) - 1/2 -1.14% 43 5/16 Ebay (Nasdaq:EBAY) +10 1/2 +7.44% 151 11/16 Excite@Home (Nasdaq:ATHM) +4 1/2 +10.70% 46 9/16 ETRADE (Nasdaq:EGRP) +1 3/8 +5.51% 26 5/16 Intel (Nasdaq:INTC) +3/4 +0.98% 76 15/16 Lucent (NYSE:LU) -7/16 -0.67% 64 1/2 Microsoft (Nasdaq:MSFT) +1 7/8 +2.04% 93 11/16 Qwest (Nasdaq:QWST) +1 5/8 +4.89% 34 7/8 Yahoo (Nasdaq:YHOO) +2 7/16 -1.41% 175 3/4 3. Notable Earnings Announcements For a calendar of upcoming earnings announcements, visit: smartportfolio.com AOL users click here After the closing bell, Yahoo! (Nasdaq:YHOO) reported third quarter earnings of 14 cents per share, which exceeds consensus analyst estimates of 9 cents per share and "whisper" expectations of 11 - 12 cents per share. In terms of traffic, Yahoo! reported 80 million registered users and 385 million page views in the third quarter compared to 65 million users and 310 million page views in the previous quarter. Yahoo! Shares closed up 2 7/16 (+1.41%) to 175 3/4 today prior to the announcement. See "Internet and Tech Stocks" above for more information on Internet stocks.<<