Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: Brian Malloy who wrote (4772)	2/13/1999 12:30:00 AM
From: loafing	Read Replies (6) \| Respond to of 19700

i bought cmgi @130 should i take my losses or hold ?can someone help; me out please

To: Brian Malloy who wrote (4772)	2/13/1999 12:43:00 AM
From: keta	Read Replies (1) \| Respond to of 19700

Lycos deal far from done By Steve Rosenbush, USA TODAY NEW YORK -- More uncertainty surfaced Thursday over the fate of USA Networks' acquisition of Lycos after a major investor said it might withdraw support. CMGI, an Internet investment company that owns 20% of Lycos, remains generally supportive of the deal. But Lycos shares have plunged since the deal was announced. If they don't rebound, CMGI says it might be forced to vote against the acquisition. CMGI board members discussed the matter at a meeting late Wednesday and voted against the transaction unless the price bounces back to the $127 range where it was before the deal was announced Tuesday, an executive close to the talks said. CMGI board members and management say the deal makes good strategic sense but that other investors have failed to understand the complex transaction. Unless they figure it out, CMGI says it must vote in the interests of its shareholders and oppose the deal if the value is too low. A vote is expected in three to six months. CMGI says it had a 24,926% return on its $3.8 million investment in Lycos as of Jan. 29. It owns 5.74 million shares. CMGI's statement about the deal seemed to work in its favor. Lycos shares rose 16 Thursday to $103 1/4 after the first report of CMGI's position surfaced on Bloomberg News. CMGI shares rose $19 15/16 to $112. Lycos shares also got a boost from Hambrecht & Quist analyst Paul Noglos, who put a "strong buy" on the stock. He says the combined companies -- to be named USA/Lycos Interactive Network -- would benefit from the expected explosive growth in electronic commerce. Four-year-old Lycos calls itself the second-most visited "hub" on the Web, where it offers a search engine, Web-page building tools, a shopping area and other services. A Lycos spokeswoman declined comment. USA Networks issued a statement saying it understood investors' fears but predicted they would subside as people better understood the benefits of the combination. USA Networks, run by Fox network founder Barry Diller, is a home-shopping pioneer. The combined company would sell goods over television and the Web. It could also build a strong business selling advertising space on the Web to local businesses. That advertising market is about to take off. "I think as investors really begin to take a harder look, the stock will go up and the deal goes through as structured," Noglos predicted. Contributing: Doug Levy