To: Bill Ulrich who wrote (12958 ) 2/21/1998 10:29:00 AM From: Glenn D. Rudolph Read Replies (1) | Respond to of 22053
******OT****** Alert: Airline stocks fall on Iraq jitters United Press International - February 20, 1998 19:05 %FINANCIAL %STKS %MOVERS V%UPI P%UPI NEW YORK, Feb. 20 (UPI) - Airline stocks fell sharply Friday amid concerns about a U.S. military confrontation with Iraq, while technology issues turned in another mixed performance. Some analysts said airline issues lost ground amid fears that a U.S. military confrontation with Iraq could fuel higher fuel prices and trigger terrorist attacks on U.S. entities. American Airlines parent AMR Corp. dropped 5 13/16 to 123 7/8, United Airlines parent UAL Corp. slipped 3 1/2 to 85 1/4, Delta Air Lines Inc. slid 3 1/8 to 115 3/16 and USAir Group Inc. fell 1 15/16 to 64 1/16. Compaq Computer topped the Big Board actives, falling 7/8 to 34 1/16. Eli Lilly followed, rising 1 3/16 to 61 5/8, as the drug maker extended Thursday's rebound. Hewlett-Packard was third, ending unchanged at 64 15/16, while its fellow Dow component IBM inched down 1/8 to 102 5/8. Among other technology issues, Texas Instruments ended unchanged at 58 7/8, Micron Technology inched up 1/16 to 34 but Motorola fell 13/16 to 60 3/16. On Nasdaq, Intel was the second most active issue, rising 1 1/4 to 91 13/16. Dell Computer was third, climbing 3 9/16 to 126 5/16. Microsoft edged up 1/4 to 155 1/8 and Cisco Systems added 3/8 to 65 13/16, but Sun Microsystems fell 3/4 to 46 1/4 and Oracle eased 3/16 to 25 1/8. Ciena Corp. led the Nasdaq actives, tumbling 16 1/8 to 42. The telecommunications equipment supplier reported late Thursday fiscal first-quarter earnings of 37 cents a share on a diluted basis, well above the year-ago's 13 cents and 2 cents ahead of analysts' mean estimate. But Ciena warned of weaker-than-expected earnings in the second quarter as a result of reduced orders from WorldCom Inc., the nation's fourth largest long-distance carrier. WorldCom rose 9/16 to 39. Elsewhere on the NYSE, GTECH Holdings gained 1 15/16 to 33 9/16 after the Texas Lottery Commission decided Thursday to keep the supplier of computerized lottery products as the main operator of Texas lottery games. Elsewhere on Nasdaq, Adaptec Inc. slipped 2 5/16 to 23 5/16 after a rating downgrade by SoundView Financial following the computer products maker's agreement late Thursday to acquire the U.S. subsidiary of South Korea's Hyundai Electronics Industries Co. for $775 million. -- Copyright 1998 by United Press International. All rights reserved. --