Broadcast.com soars in an opening-day frenzy

Article Abstract:

Broadcast.com closed at $62.75 a share on the Nasdaq stock market on Jul 17, 1998, establishing a record Wall Street opening-day gain of 250%. Investors traded more than 6.5 million shares of the company, which since 1995 has offered programming such as live news, radio and music over the Internet. Dallas-based Broadcast.com's market capitalization slightly exceeded $1 billion in just hours, while co-founders Mark Cuban and Todd Wagner became instant paper millionaires. Internet stocks have been popular among investors throughout 1998, but the performance surprised even the underwriters who had priced Broadcast.com at $18 a share. By comparison, Netscape's first day of trading in the summer of 1995 yielded a 108% surge and market value of $2.2 billion. Broadcom, which supplies silicon chips for high-speed data transmissions, is one of the few other start-up companies that have met $1 billion in their public offering.

Services, Internet service providers, Internet service provider, Broadcasting industry, Company public offering, Yahoo! Broadcast Services

---

Anything.com likely to be hottest issue in class of '99

Article Abstract:

Investment analysts interpret the runup in the prices of Internet-related stocks as an example of continuing market irrationality in that sector. One consequence is a flood of new issues. Analysts worry that poor-quality issues, which represent efforts to cash in on the market's obsession with these stocks, will ultimately damage the prospects of solid offerings once the speculative bubble has finally run its course. For now, the stocks continue to be the darling of investors, seeing increases in value on the day of issue of as much as 644%, an increase made even more amazing by the fact that virtually none of the Internet stock issuers has made or can foresee a profit. One signal that analysts believe signals the end of the frenzy is the growth of insider selling of these securities, suggesting that they think valuations have reached their peak.

On-Line Information Services, Computer Services, Computer Systems Design and Related Services, Videotex & Teletext, Computer and Data Processing Services, Evaluation, High technology industry, Software industry, Information technology services, Internet services, Investments, Beliefs, opinions and attitudes, Computer software industry, Public opinion, Valuation, Investors, Going public (Securities), World Wide Web, Telecommunications Industry

---

Joint venture aims to help the Internet go wireless

Article Abstract:

The Motorola Corp. and Cisco Systems have formed an alliance that will create the world's biggest wireless Internet system. The companies plan to invest over $1 billion to build a system capable of transmitting data, voice and video through existing cellular telephone stations to portable computers, wireless phones and other devices. The venture would establish new lines of products from each of the companies and will require an Internet Protocol platform compatible with various formats of wireless products. The planned venture comes as a number of communications equipment and networking firms are merging or creating alliances.

Telephone and telegraph apparatus, Telephone Apparatus Manufacturing, Joint ventures, Data Communications Equip, Computer network equipment industry, Network hardware industry, Innovations, Product development, Wireless communications, Wireless network, Wireless LANs, Telecommunications equipment industry, Contracts, Abstract, Data communications equipment, Motorola Inc., MOT, Cisco Systems Inc., CSCO, Wireless communication systems, Cooperative agreement for product development, Alliances and partnerships

Similar abstracts:

• Abstracts: British Telecom to acquire MCI's stake in joint venture. MCI reported to be near full Internet sale. In newest deal, Alcatel to buy DSC for stock
• Abstracts: CarsDirect.com bets on one-stop, desktop showroom; venture hopes to cut out dealer middlemen and sell entirely online
• Abstracts: A wasteland, and proud of it. Columbia Pictures to share movie profits with writers. Sony Pictures, in an accord with MGM, drops its plan to produce new James Bond movies
• Abstracts: Visa, MasterCard named in antitrust suit. Spurning Visa, Citigroup turns to MasterCard. American Express sues Chase over ads
• Abstracts: General Motors is significantly increasing its efforts to aim pitches at black consumers. Cadillac signs a long-term accord for signs in Times Square

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.