Cima, some B2B action in the news today. see below.
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Bambi Francisco's Net Stocks
Catch them if you can
Building blocks of e-commerce soar; Elco rocks 50%
By Bambi Francisco, CBS MarketWatch
Last Update: 10:30 AM ET Dec 28, 1999 Internet Daily
Net Headlines
NEW YORK (CBS.MW) -- So much for catching their breath during the holidays.
Investors, eager to own a piece of "B2B" into the new year, chased shares of the usual business-to-business Internet suspects Commerce One, Ariba and tiny little Elcom International to the moon Tuesday, without any sign of fatigue.
Ariba (ARBA: news, msgs) and Commerce One (CMRC: news, msgs) ran up 9 percent and 8 percent, respectively. Elcom International (ELCO: news, msgs) rocketed 30 percent.
The enthusiasm for B2B e-commerce firms helped to pull up overall Net averages. The 17-stock Goldman Sachs Internet Index rose 1.3 percent, after posting a relatively modest 2.2 percent loss Monday.
The Amex Internet Index slipped 0.4 percent, after ending Monday's session barely unchanged. The broader tech-laden Nasdaq ($COMPQ: news, msgs) was mixed, momentarily stepping off its record-breaking run. See Silicon Stocks.
The Net favorites were mixed. America Online (AOL: news, msgs) gave up 3/4 to 77 15/16, after losing 2 5/16 on Monday. EBay (EBAY: news, msgs) turned around some of Monday's 8 5/16 loss, jumping 7 1/4 to 141 1/4.
Yahoo (YHOO: news, msgs) gave up 8 to 407, after adding 3 percent Monday on speculation the Net blue chipper would soon announce a stock split. The last time Yahoo announced a stock split was on January 12, 1999, the same day Yahoo reported its fourth quarter results for '98. Yahoo reports fourth quarter results on January 11 of next year.
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Updated:
12/27/99 5:22:50 PM ET
CMGI (CMGI: news, msgs) gave up 7 1/2 to 270 5/8; Internet Capital Group (ICGE: news, msgs) and Safeguard Scientifics (SFE: news, msgs) lost 3 percent each. Inktomi (INKT: news, msgs) gained 5 percent to 192; Exodus (EXDS: news, msgs) added 7/8 to 85, after Dain Rauscher Wessels raised its price target to $115 from $75..
But Elcom International (ECLO: news, msgs) ran up with a vengeance, soaring 8 7/8 to 29 1/2, as investors take note of the B2B contender. Elcom is a former PC re-seller turned B2B software procurement company. Shares had traded at $10 earlier this month when it began to make rumblings.
At the time, Tim Stobaugh, an analyst at Stonegate Securities told CBS MarketWatch.com that "a case can be made that Elcom hasn't reached the same comparable valuation of Ariba, Commerce One, and PurchasePro (PPRO: news, msgs)." Stobaugh had a $20 price target at the time.
Ninety-five percent of Elcom's total fourth quarter sales of $91 million came from re-selling personal computers. But going forward, Stobaugh expects Elcom will spin off the Web-based software procurement business called Elcom.com. Elcom.com currently has a few solid clients, including CBS (CBS: news, msgs), a significant investor in MarketWatch.com, publisher of this Web site.
PurchasePro lost 13/16 to 140; Ariba gained 16 to 198 3/4, after a 20 3/4 sprint Monday; Commerce One rose 37 to 294, after bolting higher by 57 1/4 on Monday. See Net trends 2000.
E-marketing Trend
A new report by Forrester Research highlights the significance of mining "visitor profiles and online behavior," as opposed to merely counting page views. To measure "visitor experience," which should ultimately be the business objective, firms need a robust Web intelligence model capable of "accommodating new strategies and technologies," according to the report.
But there are no companies with a complete toolbox of Web intelligence tools, according to Forrester.
Post comments about Net stocks at the Internet Discussion Group page.
Bambi Francisco is Internet editor for CBS MarketWatch. She talks stocks and the Net on America Online's Live Market Chat each Wednesday at 12 p.m. Eastern Time. Sage Online runs the discussion.
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