BIG MOVER:
News article received, Thursday, August 05, 1999 5:35:53 AM EST
Big Movers in the Stock Market
NEW YORK, Aug 05, 1999 (AP Online via COMTEX) -- Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange, Nasdaq Stock Market and American Stock Exchange.
NYSE
America Online, down 3 1/2 at 83 15/16
While AOL continues to battle competitors over its instant-messaging technology, the company may face a new fight from Microsoft, the Wall Street Journal reported. The newspaper said Microsoft may offer an inexpensive or free Internet dial-up service.
Pier 1 Imports Inc., down 2~ at 5~
The furniture and accessories retailer said Wednesday its chief financial officer left the company and its second-quarter earnings will fall short of expectations. Pier 1 also said its talks to buy another chain have broken off.
Saks Inc., up 2 11/16 at 23 1/2
In line with strong reports from many retailers, Saks said same-store sales for July rose 5 percent from a year ago. Total sales for the four-week period that ended July 31 increased 13 percent from the same period in 1998.
ICN Pharmaceuticals Inc., down 4 1/16 at 20 3/4
ICN earned 32 cents per share in the second quarter, while analysts had expected 39 cents per share. Also, ICN's treatment for hepatitis is facing new competition from a drug made by Enzon Inc.
NASDAQ
Aronex Pharmaceuticals Inc., down 2 7/16 at 4 1/2
The biopharmaceutical company said the Food and Drug Administration withdrew an invitation to discuss the company's new drug application for Atragen, a leukemia treatment.
Kendle International Inc., down 4 at 10 3/4
Kendle said second-quarter earnings were hurt by employee recruiting and relocation expenses. The clinical research and drug development company also cited lower-than-expected contract values, lower interest income and losses.
MedCare Technologies Inc., up 1 at 3 3/4
MedCare, a health-care technology service company, will offer its MedCare Program to Atlanta Urological Consultants. MedCare operates a network of therapy centers that treat urinary incontinence without drugs or surgery.
Ultimate Electronics Inc., up 3 1/2 at 17 1/2
The company, a home entertainment and consumer electronics retailer, said same-store sales rose 20 percent in the second quarter. Ultimate Electronics said it expects to earn at least 12 cents a share for the quarter, above analysts' estimated 7 cents a share.
AMEX
Ekco Group, up 2 1/4 at 6 3/4
Corning Consumer Products Co. will acquire Ekco Group for $300 million in cash, or $7 a share. Ekco Group makes branded houseware products including the Baker's Secret and Farberware lines.
Copyright 1999 Associated Press, All rights reserved.
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