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Strategies & Market Trends : STEAMROLLER'S DAYTRADES -- Ignore unavailable to you. Want to Upgrade?

To: STEAMROLLER who wrote (772)	9/8/1998 2:04:00 PM
From: STEAMROLLER	Read Replies (5) \| Respond to of 1561

The Motley Fool's Market Movers (Ups) The Motley Fool - September 08, 1998 12:34 September 8, 1998/FOOLWIRE/ -- Banking and financial services stocks got a lift this morning as Alan "G-Money" Greenspan hinted in a speech late Friday that the Federal Reserve may consider an interest rate cut in the future, which would be a change from the Fed's prior "bias" toward a future hike in the key Fed Funds rate. Travelers Group (NYSE: TRV) gained $3 13/16 to $42 7/8, merger partner Citicorp (NYSE: CCI) climbed $9 5/16 to $101 13/16, Chase Manhattan (NYSE: CMB) moved up $2 7/16 to $47 13/16, NationsBank (NYSE: NB) added $2 1/2 to $56 1/2, American Express (NYSE: AXP) rose $6 13/16 to $80 7/16, and Fannie Mae (NYSE: FNM) gained $2 7/8 to $61. Aircraft maker Boeing Co. (NYSE: BA) rose $1 9/16 to $35 1/2 after saying it has received orders for 21 jets from KLM Royal Dutch Airlines (NYSE: KLM) and American International Group's (NYSE: AIG) International Lease Finance Corp. subsidiary. Also, Brazilian airline Varig said this morning that it will spend about $2.7 billion to buy as many as 39 new Boeing jets. General Electric Co. (NYSE: GE) added $3 1/2 to $79 3/8 after saying yesterday that new products, acquisitions, and joint ventures could boost its aircraft engine unit's fiscal 1998 revenues to about $5 billion from $3 billion a year ago. Electric power company AES Corp. (NYSE: AES) generated a $5 gain to $29 1/4 after Morgan Stanley Dean Witter started coverage with a "strong buy" rating. Telecommunications wide area networking (WAN) systems developer Ascend Communications (Nasdaq: ASND) advanced $5 3/8 to $44 1/8 after Bell Atlantic (NYSE: BEL) named the company its primary supplier of next generation asynchronous transfer mode (ATM) and frame relay switches for the Baby Bell's high-speed data network. The multi-year contract is an extension of a previous partnership between the two firms. TV and radio stations operator Sinclair Broadcast Group (Nasdaq: SBGI) gained $15/16 to $19 3/8 after agreeing to buy the six TV stations owned by privately held Guy Gannett Communications for $310 million in cash. In addition, Sinclair plans to sell Gannett's station in Rochester, New York (which competes with an existing Sinclair station) to The Ackerley Group (NYSE: AK) for unspecified terms. Drug delivery systems developer Atrix Laboratories (Nasdaq: ATRX) climbed $1 to $14 after the FDA approved its Aytridox therapy, which is a bioabsorbable antibiotic gel for treating periodontal disease. Elsewhere in the biotech world, MedImmune (Nasdaq: MEDI) moved up $4 1/2 to $55 after the FDA gave the green light to an additional German contract manufacturing facility for the company's Synagis drug, which is a treatment for a serious lower respiratory tract disease in children. Internet homepage community operator GeoCities (Nasdaq: GCTY) gained $1 13/16 to $22 11/16 after Goldman Sachs started coverage with a "market perform" rating. Coincidentally (or not), Goldman was the lead underwriter for the company's initial public offering last month. Elsewhere in Internet-land, America Online (NYSE: AOL) rose $6 1/4 to $92 1/4, Yahoo! (Nasdaq: YHOO) picked up $5 15/16 to $81 5/16, Excite (Nasdaq: XCIT) moved up $2 7/16 to $28 5/16, Infoseek (Nasdaq: SEEK) climbed $1 15/16 to $19 1/16, Amazon.com (Nasdaq: AMZN) added $5 1/2 to $91 3/4, and CMG Information Services (Nasdaq: CMGI) advanced $3 11/16 to $46 3/16. Telecommunications equipment maker Lucent Technologies (NYSE: LU) was lifted $4 1/4 to $79 1/2 thanks to a BT Alex. Brown upgrade to "buy" from "market perform." Internet advertising agency 24/7 Media (Nasdaq: TFSM) rose $1 3/4 to $11 5/8 after Merrill Lynch started coverage with near-term and long-term "buy" ratings. Merrill was the lead underwriter for the company's initial public offering last month. Computer storage hardware and software developer EMC Corp. (NYSE: EMC) rose $3 7/8 to $52 7/8 after CS First Boston started coverage with a "buy" rating and named the company its "featured stock of the week." The 12-month price target is $70 per share.