Big Movers in the Stock Market
NEW YORK (AP) _ Some of the stocks that moved substantially or traded heavily Friday on the New York Stock Exchange, Nasdaq Stock Market, and American Stock Exchange.
Travelers Group, up 1 5/8 at 50 7/8.
Salomon, up 15/16 at 52 3/4.
The investment banking firm wrapped up its buyout of the parent company of Salomon Brothers for $9 billion. The combined investment company will have $250 billion in assets.
Suncor Energy Inc., down 2 3/16 at 32 15/16
The company’s oil and gas group is down 2.5 percent, apparently due to recent turbulence in Asian economies, the Dow Jones News Service reported.
Deposit Guaranty, up 7 3/8 at 48 1/4.
The company declined to comment in response to a New York Stock Exchange request for comment on unusual market activity in its stock, the Dow Jones News Service reported.
ACC Corp., up 2 1/2 at 46 3/4.
Teleport Communications Group, down 1 1/2 at 49.
Internet service provider Teleport is buying ACC, a long-distance telephone service company, for $1 billion in stock, the companies announced after the market closed Wednesday. The offer matched a bid by Tel-Save, which later abandoned its offer. Teleport is based in Staten Island, N.Y. ACC is based in Rochester, N.Y.
EntreMed, up 3 3/8 at 15 1/4.
The company’s experimental protein successfully shrank tumors in mice, according to a cover study published in the medical journal Nature. The Rockville, Md., biotechnology company develops products that act on blood.