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Technology Stocks : Egghead Computer (EGGS) -- Ignore unavailable to you. Want to Upgrade?

To: TokyoMex who wrote (3164)	11/4/1998 2:34:00 AM
From: fiberman	Respond to of 8307

Internet fever hits again 'Speculative' gambits make a comeback By Brenon Daly, CBS MarketWatch Last Update: 1:26 PM ET Nov 3, 1998 NewsWatch NEW YORK (CBS.MW) -- The mania for more "speculative" Internet companies heated up Tuesday as investors looked to make quick cash on these jumpy stocks. Egghead.com shares added 18 percent, Market Guide rose 16 percent and K-tel doubled. (See related story.) "This is just pure speculation," said Howard Love, who heads Love Capital. "These companies are just the favored investment vehicle for on-line speculators and day-traders." Love doesn't own any of the small Internet companies -- which he calls "swamp rats" -- but he does have stakes in the larger Web powerhouse, such as Amazon.com. "Speculation has been creeping back in," Love said, pointing to eBay's 60 percent rise last week as it released its third-quarter earning results. (See full story.) "And eBay (EBAY) and K-tel (KTEL) are miles apart," said Love, who owns some shares of the online auctioneer. On Tuesday afternoon, Egghead.com (EGGS) added 1 1/4 to 8 1/4 on trading that was more than 4 times heavier than average. Market Guide (MARG) added 13/16 to 6. The gains by the "speculative" Internet issues came as shares in most of the so-called blue-chip Web companies declined. The American Stock Exchange Internet Index ($IIX) shed 1.9 percent. In other news about "speculative" Web companies, Zapata (ZAP) said it is suspending its dividend payment and plans to use the cash to buy back up to 5 million of its own shares. The release boosted shares 13/16 to 8 5/8 Tuesday. The food processor turned Internet huckster said last month it is canceling its plan to buy 31 Web sites. (See full story.)