Reported by Star-Bulletin staff & wire
Friday, November 27, 1998
Online retailers see shares soar
SAN FRANCISCO -- Shares of companies selling goods over the Internet rose today as investors bet that more consumers will do their holiday shopping online, boosting sales.Online music retailer CDNow Inc. rose $9.875 to $26.875. Software merchant Egghead.com Inc. rose $10.1875 to $31.625. Internet auctioneer Onsale Inc. rose $37.625 to $97.625.
Fellow auctioneer eBay Inc. rose $13.50 to $218. Books-A-Million Inc., a book merchant which introduced an enhanced website Wednesday, soared $26 to $38.9375 in trading of 33.5 million shares, making it the most active U.S. stock. Leading online book merchant Amazon.com Inc. rose $6.3125 to $216.625.
European stock markets may merge
PARIS -- The leaders of eight major European stock exchanges agreed today to take steps toward creating a pan-European market that could one day rival Wall Street.The agreement, made at a meeting hosted by the parent company of France's stock exchange, came four months after the Frankfurt and London exchanges announced plans to form a joint market.
The French had criticized the Anglo-German plan at the time, but since then Paris has been seeking a way to get in on the proposed alliance. At today's meeting, exchange officials agreed to hold more meetings and form a joint committee to help advance the process of creating a regional market.
In other news . . .
EarthLink Network Inc. shares rose 37 percent, or $19.50, to $71.871/2 on a report that Sprint Corp. may buy the remaining 71 percent of the Internet service provider it doesn't already own . . . Barclays Plc Chief Executive Martin Taylor quit today, sending its shares down 7.7 percent . . . Bankers Trust Corp.'s board of directors this weekend is expected to approve a $9.5 billion cash acquisition by Germany's Deutsche Bank.
See expanded coverage in today's Honolulu Star-Bulletin.
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