K-Tel Jumps In after hours, AOL dropped to 79 5/8
Dow Jones Newswires
NEW YORK -- K-Tel International Inc. (KTEL) was one of the select
few stocks active in what could be deemed a typical sleepy Friday
after-hours session.
Shares of K-Tel, which develops and sells packaged music and
video-entertainment and consumer-convenience products, recently jumped
to 49.
The stock gained during the regular session, almost touching the 52-week
high of 49 1/2, but stopping at 49 1/4. The shares closed at 48, reflecting
a jump of 10 15/32, or 27.9%.
Some traders attributed the regular session's strides to investors who were
covering short positions, and others cited a small newsletter's reiteration of
its $100 share price target.
K-Tel also said Friday its on-line music service acquired the rights to
publish Billboard magazine's weekly chart package from BPI
Communications Inc.
Several technology-related stocks also remained active, which isn't unusual
for a Friday aftermarket session.
Intel Corp. (INTC) recently hopped to 80 5/8, after closing at 82 1/8, up
1 5/16, or 1.6%.
Infoseek Corp. (SEEK) retreated to 33 3/8, following its close of 33 1/2,
down 1/8, or 0.4%.
America Online Inc. (AOL) dropped to 79 5/8, after settling at 83 1/2, up
3 1/2, or 4.4%.
Dell Computer Corp. (DELL) turned over in line with its finish of 84 1/4,
reflecting a gain of 3 1/2, or 4.3%. |
