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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (6456)	3/22/1999 3:17:00 PM
From: Rico Staris	Respond to of 29970

interesting article.... news.com High-speed Net stocks hit overdrive By Bloomberg News Special to CNET News.com March 22, 1999, 11:50 a.m. PT @Home and Broadcast.com led shares of Internet-related companies higher on optimism that Comcast's purchase of MediaOne Group will fuel future revenue growth as well as new content and services for high-speed Internet access. @Home, which provides high-speed Internet access through cable-television lines, climbed 19.875 to 153.6875 in afternoon trading, while Excite surged 16.375 to 138.125. Broadcast.com rose 30.125 to 115.125. @Home soared after No. 4 U.S. cable company Comcast said it will buy No. 3 MediaOne for $60 billion in stock and debt--fueling speculation that @Home may combine with Road Runner, another high-speed Internet service in which MediaOne owns a stake. Internet stocks have surged this year on hopes that industry consolidation will boost revenue growth, following @Home's planned acquisition of No. 2 Internet directory Excite and USA Networks' bid to buy No. 3 Internet directory Lycos. "Deals are fueling this market," said Ryan Jacob, portfolio manager of the Internet Fund. Many investors and analysts had speculated that @Home and Road Runner may combine their services. Road Runner is a joint venture of Time Warner, MediaOne, Microsoft, Compaq Computer, and the closely held Advance/Newhouse group, and it offers its service through exclusive agreements with cable operators including Time Warner and MediaOne. @Home offers its service through similar agreements with cable operators including Comcast, AT&T's Tele-Communications Incorporated, Cablevision Systems, and Cox Communications. "The implications of the merger may be @Home and Road Runner finally merging. It may speed up or accelerate those talks," Jacob said. "They don't compete with each other, but there are very clear synergies. While these negotiations have gone on for a while, it may move along at a quicker pace."