Big Movers in the Stock Market
NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market.
Houghton Mifflin Co., up $4.91 to $59.47
The Boston company, one of the country’s oldest publishers of educational materials, announced it will be acquired by the French entertainment company Vivendi Universal SA for $1.7 billion in cash.
Bellsouth Corp., down 83 cents to $40.40
Bellsouth, the dominant local phone company in the Southeast, warned that weak currency exchange rates in Brazil and Colombia will lower second-quarter earnings by at least a nickel a share.
Abbott Laboratories, down 31 cents to $51.67
Shares fell on reports that the Food and Drug Administration has said its Synthroid drug, used for treatment of thyroid problems, did not meet safety standards.
Frontier Airlines Inc., down $1.66 to $13.85
Shares fell after the Denver-headquartered airline said earnings in the April-June quarter would be in a range of 28 cents to 38 cents, considerably below the year-earlier 57 cents a share.
IXIA Inc., down $1.10 to $12.40
This Calabasas, Calif., which designs interface cards for fiber-optic and copper line networks, said second-quarter earnings would suffer from the slowdown in the telecommunications sector.
Immune Response Corp., down $2.99 to $1.91
Investors unloaded shares after the company reported its Remune therapy for HIV didn’t meet its primary goals.