To: GR who wrote (45 ) 12/22/1998 6:43:00 PM From: GT Respond to of 399
iMAL compared with EBAY,ONSL and YAHOO in news after the bell.... iMall takes off on AT&T discount deal Stuff.com offers $20 off to AT&T WorldNet subscribers By Ron Feemster, CBS MarketWatch Last Update: 4:49 PM ET Dec 22, 1998 See Internet Daily SANTA MONICA, Calif. (CBS.MW) -- In the world of Internet stocks, small retailer Davids would never think of slaying Goliath. Instead, companies see their stock prices slingshot into the stratosphere after they join forces with a giant portal or service provider. iMall (IMAL) is the latest to make the move. Shares of the tiny online merchant rocketed 135 percent on Tuesday after it said its site, Stuff.com, would offer AT&T WorldNet (T) subscribers up to $20 in discounts. Shares climbed 16 3/8 to 28 1/2, easily setting a new 52-week high of 16 7/16 set on Nov. 29. AT&T traded down 7/8 at 73 5/16 on Tuesday. Investors, of course, are betting that links from big sites and providers will drive shoppers to the smaller retailers and bump up their sales overnight. Monday, online auctioneer Onsale (ONSL) screamed up 56 percent on an e-commerce deal with Yahoo (YHOO). Shares of competitors eBay (EBAY) and UBid (UBID) rose nearly as quickly as their smaller competitor. Earlier this month, online clothing retailer Bluefly (BFLY) picked up more than 40 percent in a single day when it located a store on Yahoo's (YHOO) online mall. Bluefly traded down 1 1/16 at 12 1/2 on Tuesday. Going to Stuff.com could save AT&T phone customers money as well. iMall's shopping portal will offer users a discount on AT&T One Rate Online. Those willing to manage their long distance bills online will get interstate direct-dial service for 9 cents a minute at Stuff.com. With agreements like these, big sites and providers get to add little service extras to their wide product arrays. "Our customers get VIP access to one of the Web's most unique shopping portals," said AT&T WorldNet President Dan Schulman in a statement. Ron Feemster writes for CBS MarketWatch in New York.