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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: Teddy who wrote (17018)	3/9/2000 8:48:00 PM
From: Scarecrow	Respond to of 19700

Teddy -- The best plans are the simplest ones. Congrats on your passive execution! Pulled this from Reuters --- ============== FOCUS-CMGI Q2 loss lower than forecast, boosting stock (Updates throughout with details, quotes, stock activity) ANDOVER, Mass., March 9 (Reuters) - CMGI Inc. <CMGI.O>, an Internet hothouse with a portfolio of about 65 firms, on Thursday posted a second-quarter loss that was much smaller than expected as revenue from its Internet segment soared, sending CMGI shares surging in after-hours trading. The Andover, Mass.-based company posted a net loss of $186 million, or 74 cents a diluted share for the fiscal quarter ended Jan. 31, compared with a profit of $13 million, or 6 cents a share, in the year-ago quarter. CMGI shares surged to 149-9/16 on Instinet in after-hours trading following a close of 145-3/8 on Nasdaq. CMGI also said it expected its initial public offering of the AltaVista search engine to take place in April due to "administrative delays" with the Securities and Exchange Commission. The offering of 14.8 million shares, in the range of $18 to $20 apiece, had been expected in March. Chairman and Chief Executive David Wetherell, said the company's furious deal-making pace will continue. "We expect to continue to grow through strategic acquisitions at a rate of about two deals a month," he said. CMGI also said it plans to launch two new home-grown firms this year. One will be an Internet content distribution network, the other a a global Web operating platform. "Both of those, I think, promise to have as much value if not more value than the rest of what we have combined," Wetherell said. In the past quarter, CMGI built up its Internet operations with acquisitions and began strategic international operating and venture partnerships. Last week, the company joined two other media investment groups to form a $1.5 billion fund to back international Internet ventures. At the close of trading on Thursday, CMGI said the market value of its stock holdings was more than $23 billion. Analysts on average had expected CMGI to post a net loss of $1.28 per share in the second quarter, according to First Call/Thomson Financial. Excluding the effects of a one-time charge, CMGI said earnings reached $1.3 million, or 1 cent a basic share. CMGI's total revenue nearly quadrupled, climbing to $153.4 million from $38.9 million in the year-ago period. Revenue rose from the previous quarter by 24 percent, from $123 million. Revenue in CMGI's Internet segment rose more than 2,250 percent over the year-ago period. CMGI said it expects revenue to grow at a rate of 20 percent on a quarter-over-quarter basis for the remainder of 2000. "It was another very strong quarter for CMGI and one that continues to validate our operating and venture strategies," Wetherell said during a conference call with analysts. The company, which owns stakes in Lycos <LCOS.O>, MyWay.com and AltaVista, among dozens of other properties, said its second-quarter results were affected by nine acquisitions and gains made on the sale of Yahoo! Inc. <YHOO.O> stock and the issuance of NaviSite Inc. <NAVI.O> stock. ((--Tony Munroe, Boston newsroom, 617-367-4106; fax, 617-248-9563; e-mail, Boston.newsroom@Reuters.com)) REUTERS