NN mentioned on Bloomberg's stock movers:
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U.S. Equity Movers: Boeing, Cendant, Orckit, Premier Parks
New York, Aug. 13 (Bloomberg) -- The following is a list of companies whose shares are moving in U.S. The stock symbol's in parentheses after the company name.
Aames Financial Corp. (AAM) rose as much as 1 5/8 to 12 11/16 as the home lender said it had net income of 29 cents a diluted share in the fourth quarter ended June 30, compared with a 37-cent loss a year earlier, as it made more home loans to consumers.
Boeing Co. (BA) fell as much as 1 3/4 to 37 1/8 as the world's biggest aerospace company was expected to announce it's cutting as many as 11,000 jobs today, USA Today reported.
Cardinal Health Inc. (CAH) fell as much as 1 9/16 to 95 5/16 as the drug wholesaler said Chief Financial Officer David Bearman is resigning to move to NCR Corp. (NCR), days after the company's plan to buy Bergen Brunswig Corp. (BBC) was blocked by the government. Cardinal said Bearman, who will be senior vice president and financial chief at computer-systems company NCR, will stay at Cardinal until the end of the month.
Cendant Corp. (CD) rose as much as 1 5/16 to 17 7/16 as the brand franchiser and marketer said it completed an internal probe of accounting fraud and restated its results for the past three years. Cendant also reported earnings of 24 cents a diluted share in the latest second quarter, compared with a loss of 11 cents a year earlier.
Citicorp (CCI) fell as much as 4 7/8 to 142 1/8 on concern the Federal Reserve Bank could impose limits on cross-marketing arrangements for financial products that are a key part of the $68.3 billion merger between the financial services company and Travelers Group Inc. (TRV), which awaits federal approval. Travelers fell as much as 1 11/16 to 57 9/16.
Convergys Corp. (CVG) rose as much as 2 1/16 to 17 1/16 as the billing- and customer-management services provider sold 13 million shares in an initial public offering.
Dillard's Inc. (DDS) rose as much as 2 1/8 to 36 15/16 as the department-store retailer's earnings for its second quarter ended Aug. 1 rose to 45 cents a diluted share from 40 cents a year earlier, beating estimates of 42 cents from analysts polled by First Call Corp.
Finish Line Inc. (FINL) fell as much as 3 3/4 to a 52-week low of 10 as the athletic-shoe retailer expects earnings for the second quarter ending Aug. 29 to range from 29 to 34 cents a diluted share, what the company said are analysts' estimates of 41 cents. Finish Line also said back-to-school sales are below expectations. Rival shoe chain Footstar Inc. (FTS) also fell as much as 3 13/16 to 30.
Flowers Industries Inc. (FLO) rose as much as 1 9/16 to 21 after the bakery company was raised to ''recommend list'' from ''market outperform'' by analyst Nomi Ghez at Goldman, Sachs & Co., who predicts the stock will reach 25 in 12 months. Ghez said the company's strong earnings momentum should continue for another 18 months. Ingredients costs are declining, and the full benefits will be realized next year, she said. Flowers also has no exposure outside of the U.S., insulating it from Asian problems or currency uncertainties, Ghez said. She raised her 1998 earnings estimate by 2 cents to 92 cents a share.
General Instrument Corp. (GIC) rose as much as 1 1/8 to 28 1/2 after the maker of cable- and satellite-television equipment was rated ''buy'' in new coverage by analyst Stephen Levy at Lehman Brothers Inc., who predicts the stock will reach 35 in 12 months. The company's shipped more than 1.4 million interactive digital set-top terminals, giving it the lion's share of the new market, Levy said. General Instrument's also received commitments from several U.S. companies for about 8,000 miles of network rebuilds and upgrades, he said. Its largest customer, Tele- Communications Inc. (TCOMA), has accelerated its infrastructure upgrade and digital set-top box roll-out plans, and General Instrument's likely to be the prime beneficiary, Levy said.
GeoCities (GCTY) fell as much as 4 1/4 to 41 1/4 as the company settled federal charges it used its popular Internet Web sites to collect personal information from people, especially children under the age of 13.
Interstate Johnson/Lane Inc. (IJL) rose for a second day, as much as 3 7/16 to 39 1/2, on speculation that the broker would be acquired, traders said.
Johnson & Johnson (JNJ) rose as much as 1 7/16 to 76 1/2 after the pharmaceutical company was reiterated near-term ''buy'' by analysts Vivian Wohl and Kelly Shaughnessy at Merrill Lynch & Co. The company should remain stable despite economic problems in Asia and Latin America because it gets only 3 percent of its revenue from Asia excluding Japan, and 7 percent from Latin America, the analysts said. While sales of Johnson & Johnson's indigestion drug, Propulsid, have fallen as much as 14 percent because of a recent Food and Drug Administration warning letter, sales have stabilized, they said. The company could receive FDA approval by the end of next year for Reminyl, the Alzheimer's drug it developed with Shire Pharmaceuticals Group, they added. Johnson & Johnson could hit 90 in 12 months, they predicted.
Just For Feet Inc. (FEET) fell as much as 4 to 14 7/8 as the athletic shoe and clothing retailer was downgraded to ''buy'' from ''strong buy'' by analyst Marcia L. Aaron at BT Alex. Brown Inc. Aaron said she downgraded the athletic shoe and clothing industry as discounted prices during the back-to-school season at the retailers will hurt profits. Industry leader Venator Group Inc. (Z) is experiencing continued lackluster results due to lower sales, she said.
Kohl's Corp. (KSS) rose as much as 4 1/8 to 56 5/8 as the department-store chain will replace Mercantile Stores Co. (MST) in the Standard & Poor's 500 Index after the close of trading today. Mercantile Stores, which rose 3/16 to 80, is being acquired by Dillard's Inc. (DDS).
Lands' End Inc. (LE) fell as much as 4 5/16 to 25 3/4 after the catalog retailer posted a surprising fiscal second-quarter loss of $61,000 because of little-changed sales in its main U.S. business and in some foreign operations.
MGI Properties Inc. (MGI) rose as much as 3 9/16 to 28 1/2 after the real estate investment trust said its board approved a previously announced plan to sell the company's holdings, which consist mainly of commercial and residential properties in New England.
NeoMagic Corp. (NMGC) rose as much as 1 1/2 to 17 3/4 after the multimedia-chip designer said earnings for its second quarter ended July 31 rose to 27 cents a diluted share from 15 cents a year earlier. The company was expected to earn 25 cents, the average estimate of five analysts polled by First Call.
Newbridge Networks Corp. (NN) rose as much as 2 1/4 to 23 as the phone-equipment maker was reiterated ''buy'' by analyst Paul Johnson at BancAmerica Robertson Stephens. Johnson and BancAmerica analyst Paul Silverstein said recently appointed President and Chief Operating Officer Alan Lutz is working to improve the company's marketing and sales.
Nordstrom Inc. (NOBE) rose as much as 4 5/16 to 36 1/2 as the seventh-largest U.S. department-store chain's earnings for the second quarter ended July 31 rose to 47 cents a diluted share from 38 cents a year earlier, beating the 42-cent average estimate of analysts polled by First Call.
Orckit Communications Ltd. (ORCTF) rose as much as 2 to 16 1/4 as the telecommunications-services company was rated new ''buy'' by analyst Steven Levy at Lehman Brothers Inc. Levy said Orckit's well-positioned to supply bandwidth-expansion equipment to telephone companies worldwide, for which demand's increasing, because of its alliances with other companies, such as Fujitsu Ltd. (6702 JP). The two companies recently won a $100 million equipment order from GTE Corp. (GTE).
Platinum Technology Inc. (PLAT) fell as much as 2 7/8 to 28 after the security-software developer agreed to acquire Memco Software Ltd. (MEMCF) for $400 million, or $26 a share, in stock.
Premier Parks Inc. (PKS) fell as much as 8 to 18 13/16 as the world's second-largest theme-park operator said annual cash flow will miss analysts' forecasts because of spending to improve its new Six Flags Entertainment Corp. properties.
Schuff Steel Co. (SHUF) fell as much as 4 3/4 to a 52-week low of 7 1/4 as the steelmaker posted a wider-than-expected second-quarter loss because of contract delays and cost overruns.
SFX Entertainment Inc. (SFXE) rose as much as 2 7/8 to 47 1/4 as the No. 1 U.S. producer of live music, theater and sporting events, agreed to buy closely held Cellar Door Cos. for about $105 million in cash, stock and options to bolster its presence in Washington, D.C., and Detroit, and strengthen its hold over the concert industry.
Sunbeam Corp. (SOC) rose as much as 2 1/16 to 8 15/16 after the largest U.S. maker of small appliances said it averted any claims that might be filed against it by billionaire Ronald Perelman, who sold 82 percent of Coleman Co. (CLN) to the company in March.
UAL Corp. (UAL) fell as much as 2 3/4 to a 52-week low 66 3/4 after the parent of United Airlines said operating revenue in the third quarter and 1998 will be little changed from the year- earlier periods as international sales slow for the world's largest carrier.
USA Networks Inc. (USAI) rose as much as 2 1/16 to 29 1/2 after the media company agreed to merge its Ticketmaster Online unit with CitySearch Inc. (CTYS), an entertainment guide on the Internet.
Veba AG (VEB) fell as much as 2 15/16 to 53 5/16 after Germany's largest utility said first-half earnings declined 3.6 percent amid losses in its silicon-wafer business and start-up costs in a telecommunications venture. Veba also said net income for the full year would be ''significantly'' below 1997's. Veba American depositary receipts each represent one ordinary share.
WestPoint Stevens Inc. (WPSN) rose as much as 2 1/2 to 36 1/8 as the maker of Martex and Ralph Lauren bedding will replace Kohl's Corp. (KSS) on the Standard & Poor's MidCap 400 Index after the close of trading. Kohl's is moving to the S&P 500 Index.
12:33:09 08/13/1998
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