Word: cmgi
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Dates: during 1999-1999
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Jameson recently switched from Charles Schwab to Paine Webber, and says she is much happier. She touted two other high-tech stocks, CMGI and EDIG. Jameson was more bullish than Peter Lynch and, at least to me, much more convincing. "I just bought Parkervision today. It came out with a new computer chip...
...picked the hottest sport in the stock market to create our league around. Both of our teams (see thestreet.com for the rosters) have had big moves since their inception a month ago. But I know we would have sat out most of the real action in the likes of CMGI and Internet Capital Group--two league phenoms--had my associate not taken them in the top rounds of our mock draft...
...massive reweighting toward technology companies. Among those we consider potential admittees are JDS Uniphase, a $42 billion fiber optics company; online retailing colossus Amazon, with $36 billion in market cap; and Veritas Software, no Microsoft but certainly no slouch, with $28 billion in stock-market value. We wonder whether CMGI ($23 billion) or Internet Capital Group ($28 billion) can be kept out for long. Or how about Broadcom, or just created Red Hat, Sycamore, Juniper and Akamai, all with valuations north of $15 billion in their rookie year of trading. You have to believe that these companies would follow...
...strategy is putting pressure on the competition. Traditional venture-capital outfits like Kleiner Perkins and powerful newcomers such as David Weatherell's CMGI have been assembling their own Internet conglomerates. Now they may have to do battle with Softbank. "These keiretsu are going to face off like football teams," says Howard Anderson, founder of consultants the Yankee Group. Yahoo competes with Lycos, which CMGI covets, and Kleiner Perkins' WebGrocer will be up against Softbank's Webvan, another online supermarket based in California...
...portal when you can build your own? Internet incubator CMGI will unveil a beefed-up version of its AltaVista search engine today. Promotion spending for the next nine months is budgeted at $120 million, $8 million of which will be spent today. That's a lot of money, for sure, but it's still much cheaper than getting a portal on the open market. Yahoo wanna-be Lycos, another big CMGI investment, is currently worth $5 billion now, with the real Yahoo currently trading at nearly nine times that figure...