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To: gc who wrote (16442)	5/11/1999 12:42:00 AM
From: J.C. Group	Read Replies (1) \| Respond to of 41369

Amen, praise the Lord, Amen...

To: gc who wrote (16442)	5/11/1999 8:07:00 AM
From: Glenn D. Rudolph	Read Replies (3) \| Respond to of 41369

Nasdaq rises on optimism about Internet deals NEW YORK, May 10 (Reuters) - The Nasdaq closed higher Friday led by Internet issues, which surged on news of several deals that created momentum in the sector as a whole. The Nasdaq composite index ended unofficially at 2526.39, up 22.77 points, or roughly 0.91 percent higher, on volume of 835 million shares. Advancing issues beat declines by a solid margin, 2209 to 1860. There were 98 stocks that reached new 52-week highs and 43 hit new lows. "Most of the whole group is bouncing back after some serious deterioration in past weeks," said Dennis Murray, a head trader at Dain Rauscher. Traders cited reports that USA Networks Inc. <USAI.O> is expected to pull out of its deal to buy Lycos Inc. <LCOS.O>. Lycos shares surged 15-3/4 to 105-1/4 and Internet investor CMGI Inc. <CMGI.O>, which held a roughly 20 percent stake in Lycos, rose 16-11/16 to 237-15/16. Then America Online Inc. <AOL.N> said it signed multi-year pacts with five big U.S. banks to carry their online banking activities on AOL's personal finance channel. AOL shares closed up 10-1/8 at 128-5/16. Shares of At Home Corp. <ATHM.O>, considered a threat to AOL's position as the number one Internet services company, fell 2-11/16 to 155-1/16, one of the few declining Internet companies. "It's very puzzling that At Home is down, despite good news for AOL," said one trader. "Makes you wonder if there's not a more positive spin on the AOL side that we don't know about yet." Priceline.com <PCLN.O> also fell 2-21/32 to 128. But most Internet issues showed eye-popping gains. CNET Inc. <CNET.O> and Xoom.com Inc. <XMCM.O> gained 22-7/16 to 136-3/16 and 6-3/4 to 81-7/8, respectively. General Electric Co.'s <GE.N> NBC television unit said it agreed to merge certain Internet assets, including its Snap.com joint venture with CNET with Xoom.com, to be renamed NBC Interactive. "Lycos started off strong, with rumors the USA Networks deal wasn't going to take place. Then the online banking announcement with AOL gave a positive feeling about the Internet stocks," said Michael James, an institutional desk trader with Wedbush Morgan Securities. "They are clearly a momentum group. Once they start off in one direction, they seem to accelerate in the same direction, James added. Yahoo Inc. was up 8-1/4 to 155-11/16, Inktomi Corp. <INKT.O> was up 15-17/32 119-27/32 and Amazon.com Inc. <AMZN.O> was up 10-1/2 to 146-7/8. 859-1700)) REUTERS Rtr 17:11 05-10-99