Week Ahead: Mixed Signals

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Week Ahead: Mixed Signals

Larry Dignan
Department Editor, CNET Investor
Friday, September 15, 2000

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The stock market can be summed up in two words these days -- mixed signals.

The semiconductor sector is volatile as a debate rages over supply, demand and where the industry is headed. Ditto for high-flying networking equipment stocks.

As for the broader markets, it's a matter of running in place.

It's no wonder that there's a lot of money on the sidelines.

Despite the concerns, Internet stocks are likely to move on earnings news from companies spawned by CMGI.

On Sept. 19, NaviSite (Nasdaq: NAVI) reports its fourth-quarter earnings. NaviSite, which is a hosting firm, will be able to give a little insight to the dot-com fallout. After all, it has a lot of dot-com customers. Consensus: A loss of 39 cents a share.

On Sept. 20, Engage (Nasdaq: ENGA) reports its fourth-quarter earnings, complete with a status report on the online advertising sector. Engage, a DoubleClick rival, could tone down expectations. Consensus: A loss of 28 cents a share.

On Sept. 21, CMGI (Nasdaq: CMGI), the Internet incubator that spawned both NaviSite and Engage, checks in with its fourth-quarter results. CMGI promised investors that it would make its financial results much easier to understand. It's dividing itself into operating segments and collapsing a few categories.

CMGI's financials have been muddled in the past due to stock gains from portfolio companies. Muddled financials were acceptable when CMGI shares jumped 1,000% a year. Now investors want a little more clarification. Consensus: A loss of $2.34 a share.

As for the September Investment Challenge, some people are actually making money -- play money that is. Here are your current leaders: John Schenk, Ginny Morris and Scot Watson.

And as promised -- August's Investment Challenge winners: Maureen Hamilton of Cataula, Ga., takes first and wins the PalmVX; Virginia Morris of Wichita Falls, Texas, takes second and wins the Diamond Rio MP3 player.

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