Big Movers in the Stock Market
NEW YORK (AP) _ Some of the stocks moving substantially or trading heavily today on the New York Stock Exchange, Nasdaq Stock Market, and American Stock Exchange.
General Motors///GM/// rose 1 7/8 to 52 3/4.
Chrysler rose 2 3/8 to 60 1/4.
Ford rose 1 1/8 to 32 3/8.
Auto stocks rose with other economically sensitive stocks. General Motors rose even after a strike at two G M brake plants forced the automaker to close 14 North American assembly factories and, with no talks scheduled, threatens to idle even more GM plants. And workers at one of the idled assembly plants threatened their own, separate walkout.
AnnTaylor Stores///ANN/// rose 1 1/4 to 19.
Alex. Brown & Sons upgraded the stock to buy from neutral, saying merchandise at the women’s clothing chain has improved.
Hewlett-Packard Co.///HWP/// rose 4 5/8 to 95 1/8.
The computer maker announced an alliance with software maker Microsoft Corp. to produce a new line of personal computers for small businesses, and marketing alliance with ANS, an America Online company, to offer Intranet service to business customers. Intranet is a corporate internal wide area network or data communications system that uses online web technologies.
Cable & Wireless PLC/// rose 1 3/4 to 21 5/8.
British Telecommunications PLC rose 1/2 to 64 3/4.
Cable & Wireless confirmed Monday that merger talks have ended with rival British Telecommunications PLC to create the biggest telecommunications group in the world. Cable & Wireless also announced the terms of Chairman Lord Young will leave the company. Lord Young announced last November that he and Chief Executive James Rosee would depart.
Coca-Cola rose 1 1/8 to 81 3/8.
Philip Morris rose 2 1/4 to 102.
Disney rose 3/4 to 66 3/8.
Julius Westheimer, special managing director at Ferris, Baker Watts, Inc. said Friday’s market drop creates buying opportunities in stocks such as these. Westheimer made the comments on the March 8 airing of ``Wall Street Week with Louis Rukeyser″ broadcast on PBS stations.
Intel///INTC/// rose 1 3/4 to 55 1/4.
Microsoft///MSFT/// rose 1 3/8 to 96 1/2.
The companies unveiled a jointly-developed open platform for video, voice and data communications over the Internet. Microsoft also formed an alliance with Hewlett-Packard to produce a new line of personal computers for small businesses.
Netscape///NSCP/// rose 6 1/4 to 46 1/4.
America Online Inc.///AMER/// rose 4 3/8 to 48 3/8.
America Online will license Netscape’s Navigator client software technology for use in all of its services. In addition, CompuServe, a rival online service, entered into a distribution and networking pact with Netscape.
J.P. Morgan commenced coverage of Netscape with a buy rating.
Altera Corp///ALTR/// rose 2 1/2 to 60 3/8.
The company’s subordinated notes were upgraded by Standard & Poor’s, citing the company’s ``strong number two position in its niche semiconductor market.″ The San Jose, Calif. company makes specialized integrated circuits for engineering development software and hardware.
Cascade Communications///CSCC/// fell 1 15-16 to 80 1/8.
The company’s stock corrected for a 6 1/8-point rise Friday that was tied to takeover rumors. The Westeford, Mass. company makes computer wide-area network switches.
American Vanguard Corp.///AMGD/// rose 3 3/8 to 13 1/8.
The company reported 1995 earnings of $1.35 per share, up from 52 cents a year ago. Based in Los Angeles, the company makes chemicals for farming and animal raising.