I think so ,, with a big sell off ..
TAVA not yet ,,
1. Internet Investors Have Revelation
.c The Associated Press
By DAVID E. KALISH
NEW YORK (AP) -- Call it crazy. After two years of piling into Internet stocks
with scant regard for profits, some investors increasingly care about making
money.
The shift was underscored on Tuesday during an explosive rebound on Wall
Street that lifted a broad range of stocks, giving the Dow Jones industrial
average its second-biggest point gain ever.
A key barometer of Internet stocks, the Internet Stock Index of 50 companies,
jumped 7 percent to 93.18, retracing half of its loss during Monday's dramatic
selloff. But not all Internet businesses joined the party.
Amazon.com, the largest on-line seller of books, dropped 4.5 percent on top of
Monday's 21 percent plunge. Broadcast.com, a broadcaster of live audio and
video across the Internet to Web sites, fell 7 percent in a comedown from its
debut last month in 1998's hottest initial public offering.
RealNetworks, whose software also lets people hear audio and watch video over
the Internet, dropped 11 percent. Even Yahoo!, the popular Web site operator
that recently reported a quarterly profit, came back only 4.7 percent after
sinking 17 percent on Monday.
Underlying the mixed performance, analysts say, more and more investors are
getting weak stomachs for young companies with long-term prospects but
immediate losses. While these stocks are notoriously volatile and could
quickly bounce back, some market observers detect a shift in investor
attitude.
''People are buying back in, but they are being a tad more careful,'' said
Steve Harmon, senior investment analyst for Meckler Media, an Internet
research company that compiles and maintains the Internet Stock Index, or
ISDEX.
''People are avoiding some of the brands,'' or well-known Internet companies,
he added.
Most Internet startups are in the red. But until recently, that fact hasn't
much fazed the stakeholders in companies seen on the Internet's cutting edge,
such as Amazon.com and Web site-operators Excite and Lycos. Ignoring financial
losses, stock buyers focused narrowly on the potential for growth in an
exploding medium that is attracting millions of new users, Web-site visits and
advertisers.
Indeed, about two-thirds of the 50 companies in ISDEX are losing money or
barely breaking even. The index has lost half its value since peaking in
April.
And some Internet companies are staking their future on infant technologies.
While investors dream of the day when the Internet will be a main conduit for
entertainment, news and other programming, today's images across the Internet
often appear jerky and are slow to download across computer networks.
Even so, Internet companies have at least one advantage compared with other
technology firms. A key reason for the stock market's gyrations has been the
economic slump in Asia, which has cut into demand for computers, cars and
airplanes from big American companies.
But Internet businesses derive most of their revenue from U.S. operations,
since the World Wide Web is such a young medium.
AP-NY-09-01-98 1754EDT
2. Net stocks bounce back
NEW YORK (CBS.MW) -- The Internet sector certainly wasn't leftbehind in the
market's huge rally Tuesday. After three straight horrifying sessions,most
beleaguered Net stocks regained substantial ground. Among the biggest
winners:
Onsale, up 25 percent;
Egghead.com, up 20 percent;
Preview Travel, up 14 percent;
Ameritrade, up 28 percent;
CyberShop, up 43 percent;
CDNow, up 16 percent;
Lycos, up 23 percent;
Excite, up 10 percent;
GeoCities, up 18 percent;
CNET, up 11 percent;
24/7 Media, up 35 percent;
AtHome, up 18 percent;
Netscape, up 17 percent;
InterVu, up 33 percent;
Broadcom, up 17 percent; and
Open Market, up 16 percent.
Even the biggest gainers, however, remain well below their highs forthe year,
most of which were reached in July, and several of the hard-hit Web
companiessaw little relief on Tuesday. Among those that didn't benefit:
RealNetworks, off 11 percent (a late-day rating
upgrade by BancBoston RobertsonStephens analyst John Powers could boost the
stock on Wednesday);
Exodus Communications, off 7
percent; Concentric
Concentric Networks, off 6 percent; and
Think New Ideas, off 15 percent;
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