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Technology Stocks : INFOSEEK (GO) -- Ignore unavailable to you. Want to Upgrade?


To: cm who wrote (6349)6/1/1998 6:20:00 PM
From: Dennis R. Duke  Respond to of 9343
 
Today SEEK was my best performer. So if the rumor being moved had an effect on the stock I did not see it.

Often these rumors are in the right industry and have the wrong target. LU and Northern Telecom are both rumored to be going after either BAY or ASND, and it sort of depends on the day if the market believes that or not. But as to rumors being wrong, some times I am too - like this morning.

Later, Dennis



To: cm who wrote (6349)6/1/1998 8:48:00 PM
From: cm  Read Replies (1) | Respond to of 9343
 
<<OT: And Now XCIT Is Sued... More On DIS...>>

This from CNET... (These suits look like a put-up
job... still interesting development)

*******

Excite sued for spurning buyout
By Jeff Pelline
Staff Writer, CNET NEWS.COM
June 1, 1998, 2:40 p.m. PT
Two separate lawsuits have been filed against
Excite, both alleging breach of fiduciary duty by the
search firm's rejection of a recent unsolicited
$72-per-share buyout offer by Zapata.
ÿ
The suits, disclosed in a
regulatory filing, were
filed late last month in
Superior Court in San
Mateo, California. Both
suits, one from Lazar
Blisko and the other
from Taam Associates, were "styled" as
class-action complaints, the filing stated.
They mark another twist in a story that has drawn
much attention as one of the first unsolicited bids
for a search-engine giant. Most of these companies
still are unprofitable, but their stock prices have
soared this year on Internet bullishness. Zapata
owns food packaging and fish-oil processing
businesses, but it wants to capitalize on the
booming Net market.
"The complaints seek an order requiring [Excite] to
'carry out their fiduciary duties' to the plaintiffs by
announcing their intention to cooperate with 'any
entity or person, including Zapata, having a bona
fide interest in proposing any transaction that would
maximize shareholder value, including, but not
limited to, a buyout or takeover of the company,"
the 8-K filing with the Securities and Exchange
Commission said.
The claims also sought to require Excite to
undertake an "appropriate evaluation of Excite's
worth as a merger or acquisition candidate, take all
appropriate steps to enhance the company's value
an attractiveness as a merger/acquisition candidate
(in the Taam complaint only)...[and] act
independently so that the interests of the company's
public shareholders will be protected."
In a separate development, a knowledgeable
source denied published reports that Walt Disney
Company may buy a minority stake in Excite. As
reported, Disney recently announced a buyout of
the stock that it didn't already own in Starwave.
The media giant has alluded to plans to build a Net
portal, but it has not offered any details.
Excite said it now is evaluating the complaints and
believes that they are "without merit." But the filing
warns: "These actions have not yet entered the
discovery stage and it is not yet possible to access
their ultimate outcome."
A spokeswoman at the search firm had no
comment on the lawsuits beyond the comments in
the regulatory filing.
In the 8-K document, Excite explained its rationale
for rejecting the bid. It said the so-called premium
being offered was "illusory," and it cited the "lack of
a strategic fit." The unsolicited bid, which occurred
on May 21, was "formally" rejected on May 27,
the filing added. The company said it consulted with
"financial advisers" in making its decision but did
not identify them.



To: cm who wrote (6349)6/2/1998 12:27:00 AM
From: Jorge  Read Replies (1) | Respond to of 9343
 
cm...Good evening...I read the ZDNet article....Of course, sometimes we see into something that we want to see, so with that in mind I liked the part of the article where the one analyst felt there were "more efficient ways" for DIS to generate traffic than this...I wonder was he thinking more efficient than buying into a "search/portal" company or XCIT in particular?

As far as rumors go there are often talks of mergers or acquisitions that are rumored, but are never publicly acknowledged by the two parties, and may or may not come to pass...

Sometimes deals are actually acknowledged by both parties to be in the making, and have the appearance of getting close to culminating then there is the announcement that talks have broken off - end of deal...

Then there is the rumored, but not confirmed, idea that more than one company may be vying for a particular merger...There's truth to it but no one is saying for sure who is going to get what, because a decision by one or more parties has not been made yet...And whether it's Dow Jones, Wall Street Journal, Red Herring, or ZDNet speculating as to who the front runner is, you can't actually "count the chicken before the egg is hatched".....NSCP choosing a partner here recently reminds me of this category....NSCP was actually talking to several SE players and until a final decision (by all players) was reached none of the other Wall Streeters, who were reporting on who they thought the partner would be, were right....Everyone thought SEEK was going to get the "honors", instead XCIT got the dubious distinction...

Therefore, I said all that to say this, is it possible XCIT was down today, even with this rumor, and SEEK was not, because XCIT was written about in one "e-rag" by one reporter and the Street discounted it's validity?

Stretching one's imagination even further, could it be possible SEEK is the better candidate, half the price at least, for starters?

Enough imagining for now, but one thing for sure, on a percentage basis SEEK fell the least of the big 4 SE Portals today, for a change,...That is rather curious...

Regards, George



To: cm who wrote (6349)6/2/1998 9:42:00 AM
From: cm  Read Replies (1) | Respond to of 9343
 
Wired.Com Article About iVillage...

A brief mention of SEEK. iVillage is obviously
growing in popularity. Long, long article.

*****

Where Women Surf
by Grace Lichtenstein
5:02amÿÿ2.Jun.98.PDT
It's 10 p.m.. Do you know where your mother is?
If she's wired, she might well be logged on to iVillage,
the network of women-oriented sites that emphasizes
messaging, chat, and advice. Thousands of women log
on to its nine channels, which include Parent Soup and
Better Health, to exchange ideas on everything from
teen smoking to herpes to building a family's
mutual-funds portfolio. "It gave me a world to be in
besides work and the kids," explains one working
mother of two from Maryland, who logged on to
Parent Soup after her marriage broke up. "I can't
imagine what my life would be like without it."
Current channels are Careers, Relationships, Food,
Beauty and Fitness, Shopping, Money, Work from
Home, Parenting, and Health, with three new channels
planned for the coming months. The site is on America
Online as well as the Web.
Communities are central at iVillage, which, according
to April 1998 statistics from Media Metrix, has the
largest reach -- 3.8 percent -- of any women's site. It
claims 65 million page views a month, which would put
it considerably ahead of Women.com, Hearst
Magazine's HomeArts, and Cond‚ Nast's Cond‚Net,
three other major women's destinations.
Chief Executive Candice Carpenter -- a lean,
fast-talking former television executive with an MBA
from Harvard -- says success has come to iVillage
because it deals "with women as they are, versus how
they should be." It is geared to "problem solving," she
declares, not "perfect biceps, perfect clothes, or
perfect hair."
iVillage offers little traditional content such as news
and feature articles. Instead, the site serves lots of
conversation, columns where physicians and other
experts answer members' questions, and deep
databases in which users can dig for more information.
For example, Work from Home offers a software library
filled with bookkeeping, billing, legal, payroll, and
sales-lead shareware. From Health, members can
access the huge store of medical information in the
Medline database.
The Beauty and Fitness page offers makeup tips, to be
sure, but it also has a message center pointedly
labeled Just The Way You Are. It is here that one
woman confesses to being embarrassed about "hairy
arms," while another admonishes: "If a person or so
called friends don't love u for yourself then they don't
deserve to be your friend."
In a forum within Parenting, a woman expressed
remorse about hitting her kids. iVillage stepped in and
got her professional help. In a Better Health forum, a
woman who had a worrisome mammogram asked for --
and got advice on -- "diagnosing a doctor's
diagnosis," plus suggestions of where to find more
information. In the Better Health section alone, more
than 160 message boards cover an enormous variety
of ailments, addictions, and preventive medicine.
In contrast, competing aggregate sites tend to
resemble traditional women's magazines. Women.com
features a mix of business, entertainment, and health
news and interactive tools; TV, music, and book
reviews; and Beatrice's Web Guide, a directory of Web
sites that was started in partnership with Yahoo.
Two other competing women's networks follow a more
traditional formula akin to women's magazines, with
sections related to the magazines they publish.
Hearst's HomeArts takes its cue from such
publications as Good Housekeeping, Cosmopolitan,
and Country Living Gardener. Cond‚Net draws on
material from Mademoiselle, Self, Glamour, and its
food publications, in addition to publishing stories
written specifically for the Web and input from
visitors.
"We win a lot of bake-offs with advertisers because of
our support groups," Carpenter says. "Pharmaceutical
companies have told us that the only way to gain
acceptance is through a community."
iVillage, whose members' median age is about 33, has
really grown, says Carpenter, since it hit a money
crunch two years ago between financing rounds.
Although they had US$12 million in escrow, Carpenter
and co-founder and editor-in-chief Nancy Evans had
to dip into their own bank accounts to meet the
payroll. The site is still not profitable, but its backers
have deep pockets: Its fourth round of financing in
May brought in $32.5 million from companies such as
AOL, which has supported it from its start in 1995.
"We are tremendously impressed with the value of
iVillage real estate, its leadership in traffic, and the
high quality of its female demographic," said Jay
Hoag, general partner in one investor, Technology
Crossover Ventures.
When Polaroid sought parents for a special camera
promotion, iVillage turned out to be an excellent ad
buy, according to Carol Phelan, Polaroid's marketing
communications manager. iVillage delivered a
"quantifiable audience that cared about child rearing
[as measured] by click-throughs and numbers of visits
... There were multimillion hits" from online parents
who make up iVillage's interactive kitchen table,
reported Phelan. "It absolutely was a successful and
important component in our media mix."
In recent months iVillage has forged deals with such
high-traffic areas as Infoseek, Excite, Lycos,
Amazon.com, and Sportsline USA. With Quicken, it
launched a joint site -- Armchair Millionaire -- to get
women talking about money management. There are
intimations of an initial public offering within the next
year.
But growth won't get in the way of Carpenter's own
priorities. She leaves her office promptly at 6 p.m. to
have dinner with her two young daughters. Then she
goes back to work at 9:30 p.m. -- at home. Her staff of
189 follows her lead, which is why the iVillage hive of
offices in New York's Flatiron District is equipped with
laptops.
"The really good sign," notes Carpenter, "is that there
are weddings and showers galore" among her
employees. "People are finding time to have lives," she
says. "We encourage that."