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 : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Jan Crawley who wrote (58803)	5/27/1999 10:43:00 AM
From: Mark Fowler	Read Replies (1) \| Respond to of 164684

Day traders look at run on vert in at 76 this thing could go to 90 easily.

To: Jan Crawley who wrote (58803)	5/27/1999 6:56:00 PM
From: Glenn D. Rudolph	Respond to of 164684

Internets give up gains, head lower By Ian Simpson NEW YORK, May 27 (Reuters) - Internet shares fell on Thursday, reversing some of the strong gains the once high-flying sector posted the day before. The American Stock Exchange's 50-share Internet index <.IIX> was off 2.60 points, or 0.88 percent, at 291.34 points, rising off the day's lows. The gauge for the once high-flying sector was retracing gains posted Wednesday when it bucked a weeks-long downturn and roared up 5 percent. The index has lost almost 20 percent since its record close in late April. Jim Marks, an Internet analyst at Deutsche Bank, said the atmosphere for Internets had soured. He cautioned against buying shares on dips in prices. "There are more reasons to be cautious in this dip than there were four or five months ago," he said. Marks said Internet stocks were suffering from oversupply of shares as more companies went public, seeking to take advantage of Wall Street's one-time euphoria about the sector. But the growth in listed Web stocks has brought on a decline in quality in initial public offerings. For example, Wall Street gave a mixed welcome to five new Internet listings on Wednesday. In contrast, launches just a few months ago saw many dizzying climbs in first-day trading. Marks added that the prospect of a rise in interest rates also was hammering Internet shares. Many are sporting pricey valluations even though they have never turned a profit. Finally, several leading Web networks, such as Lycos Inc. <LCOS.O> and Excite Inc. <XCIT.O> posted drops in users from March to April. "If that growth falls off or goes flattish, that erases a lot of the impetus for the built-in gains for a lot of these companies," Marks said. Bucking the overall down trend, StarMedia Network Inc. <STRM.O>, a Latin American Internet firm that went public on Wednesday, rose 12-11/16 to 38-3/4. StarMedia was among volume leaders on the Nasdaq. The shares have risen 160 percent since their initial public offering. Online brokerage DLJdirect <DIR.N>, which also launched Wednesday, was up 11-1/2, or 38 percent, at 41-1/2. The shares were the top gainer in percentage terms on the New York Stock Exchange. Other Internet companies and topics in the news Thursday included: -- Autobytel.com Inc. <ABTL.O>, an online car dealer, said it was generating more than $1 million an hour in sales. 1/8nPRN5RX017 3/8 -- Inktomi Corp. <INKT.O>, whose Internet search engine fuels popular Web sites, said it has started European search operations. 1/8nN27179738 3/8 -- Level 3 Communications Inc. <LVLT.O> and broadcast.com <BCST.O> said they were in a strategic pact that gives broadcast.com unprecedented access to bandwidth at favorable pricing. 1/8nN27161516 3/8 -- The U.S. Federal Communications Commission said it is seeking larger school Internet subsidies. 1/8nN2660440 3/8 Autobytel.com stock added $5.8125 to $21.5625, Inktomi gained $3 to $101, Level 3 edged up 56.25 cents to $76.50, and broadcast.com fell $4.8125 to $100.75, all early Thursday afternoon, in Nasdaq trading. 859-1879))