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Big Movers in the Stock Market

May 29, 2002

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NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market.


El Paso Corp., down $8.26 at $27.01

The energy company said it is reducing its energy trading business. The sector has come under intense scrutiny for possible sham trades.

Halliburton Co., down 63 cents at $18.72

The Securities and Exchange Commission is investigating the oilfield service company’s accounting of cost overruns on construction jobs.

Nortel Networks Corp., down 17 cents at $2.35

The telephone equipment maker announced another 3,500 job cuts and is considering selling its optical components business to save money.


Starbucks Corp., up 89 cents at $23.00

Merrill Lynch upgraded the upscale coffeehouse chain, citing growth potential ahead.

Novellus Corp., down $3.27 at $43.40

The semiconductor equipment maker increased its second-quarter forecast but failed to indicate the improvement will carryover to the rest of the year.

SignalSoft Corp., up $1.16 at $2.22; Openwave Systems Inc., down 25 cents at $6.14

SignalSoft is being acquired by Openwave for about $17.5 million. Both companies make software and other products used in the telecommunications industry.

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