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

To: gmccon who wrote (6513)	6/15/1998 11:34:00 AM
From: RLM	Respond to of 9343

SEEK is coming back to earth, now 32 3/16.

To: gmccon who wrote (6513)	6/15/1998 11:36:00 AM
From: d. alexander	Respond to of 9343

More, from Briefing Quotes at time of story, top stories today: (SEEK 11:05) 11:05 ET ****** INFOSEEK INC (SEEK) 33 1/8 +3. Shares of Internet search concern are soaring on rumors that the company is close to announcing a major media deal. That's about as much as we know, but we would anticipate that investors are anticipating a deal similar to the one announced between CNET Inc (CNWK) and NBC last week. (See Story Stock). This morning, SEEK has already experienced turnover of almost 6 million shares, or about 1 1/2 times average daily volume, in less than two hours of trading. There is also serious options buying in this stock, with the June 30 calls (symbol QIFF), which expire on Friday, trading at 3 7/8 +1 5/8. We would also attribute the strength of this stock to covering by traders who shorted the shares late-Friday and this morning after the stock ran out ahead of the rest of the group and gave the impression of being near-term overbought. At this point, we aren't sure where the rumor originated, but reports by CNBC and several online financial sites have effectively disseminated the speculation.