Tuesday, August 02, 2005

CNET's traffic disconnect?

Within a generally bullish article, Bambi Francisco writes:

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Posted by David Jackson on August 2, 2005 at 02:17 AM in Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (0)

Tuesday, July 26, 2005

Sell-side reaction to CNET earnings results - Mark Mahaney, Citigroup (CNET)

Mark Mahaney, Internet analyst for Citigoup, analyses CNET's (ticker: CNET) Q2 earnings results. Key extracts:

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Posted by David Jackson on July 26, 2005 at 04:02 PM in Earnings results, Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (0)

CNET discusses growth without Webshots (2Q05 CNET conf call quotes)

During the last year CNET Networks (ticker: CNET) acquired Webshots and HeyPix!, creating a photo sharing service that now accounts for a large proportion of CNET's page views and users. After CNET highlighted in its press release and conference call that its unique users rose by 55% and page views by 134%, CEO Shelby Bonnie was asked about the contribution from Webshots. Specifically, analysts asked two questions about Webshots: (1) Does Webshots now account for over 50% of CNET's total page views? (Last quarter CNET said it was just under 50%.) (2) What was the growth in Webshots' users and usage? Here are the extracts from Mr. Bonnie's answers that came closest to answering these questions:

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Posted by David Jackson on July 26, 2005 at 09:17 AM in Conf call quotes, Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (0)

Monday, July 25, 2005

CNET beats consensus, stock rises (CNET 2Q05 earnings)

CNET Networks (ticker: CNET) beat the consensus EPS estimate of $0.03 by 2 pennies. The stock rose by just over 3% in late trading after falling by 1.8% in regular hours. Summary of key data points from the quarter and guidance:

Continue reading...

Posted by David Jackson on July 25, 2005 at 10:29 PM in Earnings results, Sub-sector: Content, ticker: CNET | Permalink | Comments (1) | TrackBack (0)

Smartmoney bets on CNET before earnings

CNET Networks (ticker: CNET) reports earnings today after close. A timely article from SmartMoney says the stock's a "Buy" going into earnings. Key points:

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Posted by David Jackson on July 25, 2005 at 11:40 AM in Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (1)

Thursday, June 30, 2005

Citigroup initiates on CNET with Buy

Here's a different, more optimistic perspective on CNET - particularly important to highlight since my short position in the stock (which I disclose at the bottom of every relevant post) reflects a bearish view of the company. Citigroup analyst Mark Mahaney initiated coverage Thursday morning with a Buy rating and a $13 price target. Short excerpts, focusing on the bull case:

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Posted by David Jackson on June 30, 2005 at 12:15 PM in Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (0)

CNET for sale, says the NY Post; but will it sell?

The New York Post reports this morning that "sources said CNET (ticker: CNET) has been informally shopping itself to a host of media companies". Details and comments:

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Posted by David Jackson on June 30, 2005 at 09:33 AM in Sub-sector: Content, ticker: CNET, ticker: IACI, ticker: TSCM, ticker: TWX, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Wednesday, June 22, 2005

Needham downgrades CNET to Underperform

Needham analyst Mark May downgraded CNET Networks (ticker: CNET) Tuesday morning to Underperform from Hold. Excerpts from his note to clients:

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Posted by David Jackson on June 22, 2005 at 12:07 AM in Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (0)

Monday, June 20, 2005

Yahoo preparing competitor to CNET (YHOO, CNET)

Yahoo (ticker: YHOO) manager Jeff Boulter posted the following job ad on his blog in early June:

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Posted by David Jackson on June 20, 2005 at 10:45 AM in Sub-sector: Content, ticker: CNET, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Wednesday, June 15, 2005

Four take-aways from the ComScore May traffic numbers (ASKJ, CNET, GOOG, IACI, MSFT, NYT, TWX, YHOO)

From American Technology Research analyst David Edwards note to clients (relevant to investors holding positions in ASKJ, CNET, GOOG, IACI, MSFT, NYT, TWX, YHOO):

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Posted by David Jackson on June 15, 2005 at 10:30 AM in ticker: ASKJ, ticker: CNET, ticker: GOOG, ticker: IACI, ticker: MSFT, ticker: NYT, ticker: TWX, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Tuesday, June 07, 2005

Scripps-Shopzilla deal shows eBay-SHOP deal too cheap?

Media company E.W. Scripps yesterday announced that it would purchase privately-held Shopzilla for $525 million in cash. Meanwhile, Shopping.com's (ticker: SHOP) stock yesterday traded above the $21 level at which eBay (ticker: EBAY) said it would acquire the company. Are the two related? Analysis and quick comments:

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Posted by David Jackson on June 7, 2005 at 08:51 AM in Sub-sector: E-tailing, Sub-sector: Search, ticker: CNET, ticker: EBAY, ticker: GOOG, ticker: IACI, ticker: MSFT, ticker: NYT, ticker: OSTK, ticker: SHOP, ticker: TWX, ticker: YHOO | Permalink | Comments (2) | TrackBack (0)

Tuesday, May 31, 2005

Avalon Research Chairman Michael Margolies on CNET Networks

This weekend's Barron's contains an interview (paid subscription required) with Avalon Research Chairman Michael Margolies. Here's a brief excerpt containing his comments about CNET Networks, ticker CNET:

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Posted by David Jackson on May 31, 2005 at 03:12 PM in Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (0)

Friday, May 20, 2005

Google takes aim at My Yahoo (GOOG, YHOO)

Google announced a beta version of a personalized home page. This is an important development because it dispels any final doubt that Google, Yahoo and MSN are truly on a collision course. Here's Google's announcement, three reactions to it and some quick analysis:

Continue reading...

Posted by David Jackson on May 20, 2005 at 05:13 PM in Sub-sector: Content, Sub-sector: Search, ticker: CNET, ticker: GOOG, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Tuesday, May 03, 2005

CNET responds to discussion of Download.com and Adware/Spyware

CNET PR Spokesperson Sarah Cain wrote the following email (published with her permission) in response to yesterday's post CNET's exposure to Spitzer's attack on Adware: more details (in contrast, a spokesperson for LinkShare said "At this time, we have no comment."):

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Posted by David Jackson on May 3, 2005 at 01:04 PM in Sub-sector: Advertising, Sub-sector: Content, ticker: CNET, ticker: ICGE | Permalink | Comments (0) | TrackBack (0)

Bambi Francisco on Internet stocks' Adware exposure

Bambi Francisco, who covers Internet stocks for MarketWatch, published a column this morning about Internet companies' exposure to potential Adware/Spyware litigation. It's surprising that the issue has hit the mainstream financial literature so quickly - most sell-side analysts haven't yet acknowledged the risk to stocks. Perhaps this says a lot about the quality of Ms. Francisco's coverage. Key quotes from her article:

Continue reading...

Posted by David Jackson on May 3, 2005 at 11:07 AM in Sub-sector: Advertising, Sub-sector: Content, ticker: ASKJ, ticker: CNET, ticker: FWHT, ticker: MIX, ticker: NFLX, ticker: VCLK, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Monday, May 02, 2005

CNET's exposure to Spitzer's attack on Adware: more details

Industry insiders contacted me about CNET Network's potential legal exposure to Adware/Spyware following Eliot Spitzer's suit against Intermix (ticker: MIX) and the Internet Stock Blog's discussion of stocks at risk from Spitzer's attack on Adware. Key points from the conversations:

Continue reading...

Posted by David Jackson on May 2, 2005 at 11:29 AM in Sub-sector: Advertising, Sub-sector: Content, ticker: CNET, ticker: TCOW | Permalink | Comments (0) | TrackBack (1)

Friday, April 29, 2005

The Internet Danger List: stocks at risk from Spitzer's attack on Adware

The attack on the illegal disemination of spyware and adware may not end with Eliot Spitzer's suit against Intermix Media (ticker: MIX). This report outlines why and provides a tentative list of other Internet stocks at risk. Stocks mentioned: ASKJ, CD, CNET, FLWS, FWHT, IACI, ICGE, INPC, SPRK, TFSM, THK, TSG, VLCK, and YHOO.

Continue reading...

Posted by David Jackson on April 29, 2005 at 03:14 AM in Sector Themes/Outlook, Sub-sector: Advertising, ticker: ASKJ, ticker: CD, ticker: CNET, ticker: FLWS, ticker: FWHT, ticker: IACI, ticker: ICGE, ticker: INPC, ticker: SPRK, ticker: TFSM, ticker: THK, ticker: TSG, ticker: VCLK, ticker: YHOO | Permalink | Comments (5) | TrackBack (10)

Wednesday, April 27, 2005

Sell-side reaction to CNET earnings

American Technology Research analyst Mark Mahaney sent a note to clients outlining his reaction to CNET Network's (ticker: CNET) Q1 financial results. Key extracts:

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Posted by David Jackson on April 27, 2005 at 12:46 AM in Earnings results, Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (0)

Tuesday, April 26, 2005

CNET ducks a question on its conf call (1Q05 conf call quotes)

CNET Networks (ticker: CNET) CEO Shelby Bonnie took questions from analysts on the company's Q1 financial results conference call. Piper Jaffray analyst Safa Rashtchy has been bullish on CNET's stock, ranking it as one of his top picks in the Internet sector. He asked two questions:

Continue reading...

Posted by David Jackson on April 26, 2005 at 12:01 AM in Conf call quotes, Earnings results, Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (0)

Tuesday, April 19, 2005

Internet news/analysis in brief

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Posted by David Jackson on April 19, 2005 at 01:23 AM in ticker: CNET, ticker: GOOG, ticker: MSFT, ticker: NFLX, ticker: PCLN, ticker: SHOP, ticker: TWX, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Tuesday, April 12, 2005

Become.com launches, Shopping.com wins AOL France

Three developments in the comparison shopping space:

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Posted by David Jackson on April 12, 2005 at 04:18 AM in Sub-sector: E-tailing, ticker: CNET, ticker: GOOG, ticker: IACI, ticker: SHOP, ticker: VCLK, ticker: YHOO | Permalink | Comments (1) | TrackBack (2)

Tuesday, April 05, 2005

Internet news/analysis in brief

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Posted by David Jackson on April 5, 2005 at 10:29 AM in ticker: AMZN, ticker: CNET, ticker: GOOG, ticker: JUPM, ticker: TSG, ticker: YHOO | Permalink | Comments (4) | TrackBack (0)

Wednesday, March 30, 2005

Short interest jumps for FLWS, HOMS, LOOK and NILE

Short interest data is now available for Nasdaq stocks through March 15th. Short interest has rocketed for some internet stocks:

Continue reading...

Posted by David Jackson on March 30, 2005 at 10:25 AM in ticker: AMZN, ticker: ASKJ, ticker: CNET, ticker: EBAY, ticker: FLWS, ticker: GOOG, ticker: HOMS, ticker: IACI, ticker: LOOK, ticker: NFLX, ticker: PCLN, ticker: SHOP, ticker: TZOO, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Tuesday, March 15, 2005

Competition and The Long Tail

Wired editor Chris Anderson's discussion of The Long Tail is important, but investors in Internet stocks need to analyze the impact carefully.

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Posted by David Jackson on March 15, 2005 at 04:26 PM in Sector Themes/Outlook, Sub-sector: Content, ticker: CNET, ticker: GOOG, ticker: YHOO | Permalink | Comments (1) | TrackBack (4)

Sunday, March 06, 2005

February short interest

Short interest in Nasdaq stocks rose by 6.3% month over month in February. But short interest for Nasdaq Internet stocks rose by more: on a basket of 25 Internet stocks tracked by American Technology Research, short interest  rose by 10.4%. Details:

Continue reading...

Posted by David Jackson on March 6, 2005 at 07:41 AM in ticker: AMZN, ticker: CNET, ticker: EBAY, ticker: ELNK, ticker: GOOG, ticker: HOMS, ticker: IACI, ticker: LOOK, ticker: NFLX, ticker: NILE, ticker: OSTK, ticker: PCLN, ticker: TZOO, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Thursday, February 10, 2005

Did Ask Jeeves ask enough questions?

Only a day after Ask Jeeves announced its acquisition of Bloglines, CNET releases a preview of NewsBurst, its own web-based RSS reader. According to Steve Rubel, the launch of NewsBurst follows the launch of similar branded RSS readers by The Guardian and LA Times last week.

There's a simple reason content companies are trying to get into the RSS reader market:

Continue reading...

Posted by David Jackson on February 10, 2005 at 12:01 AM in Sub-sector: Content, Sub-sector: Search, ticker: ASKJ, ticker: CNET, ticker: HOLL | Permalink | Comments (1) | TrackBack (2)

Wednesday, February 09, 2005

BusinessWeek raises questions about CNET

BusinessWeek's The Dilemma of CNET's Success is a thought-provoking article about the online ad market and CNET by Sarah Lacy. The key argument:

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Posted by David Jackson on February 9, 2005 at 05:50 PM in Sub-sector: Advertising, Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (1)

Sunday, February 06, 2005

Cnet (CNET) on online advertising (quotes from the conf call)

Here's what CNET had to say on its conference call about the online advertising market, and the company's focus and financial leverage:

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Posted by David Jackson on February 6, 2005 at 02:49 PM in Conf call quotes, Sub-sector: Advertising, Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (0)

Wednesday, February 02, 2005

CNET latest Internet stock to be chopped (4Q04 earnings)

CNET Networks reported Q4 results, beating the consensus EPS estimate by a penny. But following in the footsteps of Monster Worldwide and Drugstore.com, CNET was crushed in late trading due to its lower than expected guidance for Q1. Here are details of the results and guidance:

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Posted by David Jackson on February 2, 2005 at 05:41 PM in Earnings results, Sub-sector: Content, ticker: CNET | Permalink | Comments (0) | TrackBack (0)

Thursday, January 20, 2005

The impact of blogs on online media companies

Jeff Jarvis provides an outstanding overview of the impact of "citizens journalism" on established media companies. His key points for Internet investors:

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Posted by David Jackson on January 20, 2005 at 04:33 PM in Sub-sector: Content, ticker: CNET, ticker: IVIL, ticker: TSCM, ticker: YHOO | Permalink | Comments (0) | TrackBack (1)

CNET bows to the power of blogs

CNET formally announced that it is adopting technology that enables readers to see how blogs have responded to its reporting and analysis. CNET will include TrackBack link notifications on stories on CNET News. CNET News began supporting TrackBack links in late November, but waited until now to confirm the policy with a formal announcement. TrackBack was developed by blogging software company Six Apart.

This is a critical development for four reasons:

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Posted by David Jackson on January 20, 2005 at 09:25 AM in Sub-sector: Content, ticker: CNET | Permalink | Comments (2) | TrackBack (9)

Monday, January 03, 2005

Rise in blog readership threatens online media stocks

A new report by the Pew Internet and American Life Project claims that both supply and demand for blogs is rocketing. Key stats:

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Posted by David Jackson on January 3, 2005 at 10:38 AM in ticker: CNET, ticker: TSCM, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Thursday, December 30, 2004

Five Internet danger signs to watch for in 2005

The next few weeks will likely see a flurry of predictions for 2005, to the point where you'll be sick of reading them. So instead, I'm providing something which I hope will be more useful for investors in Internet stocks and managers of Internet companies: a checklist of danger signals for Internet investors to look out for next year. For each danger signal, I've specified which stocks will subsequently be at risk:

Continue reading...

Posted by David Jackson on December 30, 2004 at 11:03 PM in Sector Themes/Outlook, Sub-sector: Content, Sub-sector: E-finance, Sub-sector: E-tailing, Sub-sector: Search, Sub-sector: Travel, ticker: AMZN, ticker: ASKJ, ticker: BFLY, ticker: CNET, ticker: CTRP, ticker: EBAY, ticker: GOOG, ticker: HOLL, ticker: IACI, ticker: MSFT, ticker: NFLX, ticker: NILE, ticker: OSTK, ticker: PCLN, ticker: RATE, ticker: SHOP, ticker: TSCM, ticker: TZOO, ticker: YHOO | Permalink | Comments (5) | TrackBack (4)

Wednesday, December 29, 2004

Short interest plummets on four Internet stocks

American Technology Research analyst Mark Mahaney does a great job of compiling short interest data on 'Net stocks. This morning he reports significant month over month changes in short interest in four stocks:

  • CNET down 13%
  • DCLK down 17%
  • HOMS down 32%
  • NILE down 11%

Short interest on NASDAQ stocks is generally down, as hedge funds covered short positions to participate in the recent rally. But declining short interest is actually bearish for stocks, as it means there's less pent-up buying demand.

Full disclosure: at the time of writing I'm short CNET.

Posted by David Jackson on December 29, 2004 at 08:33 AM in ticker: CNET, ticker: DCLK, ticker: HOMS, ticker: NILE | Permalink | Comments (1) | TrackBack (0)

Monday, December 20, 2004

Business Week says invest in Internet advertising stocks

Business Week's Where to Invest in 2005 issue recommends companies that will benefit from a surge in Internet advertising next year.

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Posted by David Jackson on December 20, 2004 at 01:01 PM in Sector Themes/Outlook, ticker: AQNT, ticker: CNET, ticker: DCLK, ticker: INSP, ticker: IVIL, ticker: TSCM, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)