Big Movers in the Stock Market
NEW YORK (AP) _ Stocks that are moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market.
Alcatel, down 4 3/16 at 47 3/8
Newbridge Networks, down 2 5/8 at 32 3/4
Alcatel, a French telecommunications maker, is in talks to acquire Newbridge Networks Corp. of Canada for more than $6.5 billion in stock, The Wall Street Journal reports. Investors seem disappointed with the deal’s value.
Student Loan Corp., down 5 1/2 at 41 7/8
The company terminated talks with Citigroup, which had offered to acquire its remaining shares outstanding shares for $45 each.
Too Inc., up 4 1/2 at 20
The clothing retailer beat analysts’ earnings estimates by a dime a share for its fourth fiscal quarter.
Novell, down 8 15/16 at 34 1/8
The computer network software company said its fiscal first-quarter revenue fell short of analysts’ estimates because of slower sales.
Brocade Communications Systems, up 32 1/4 at 275 7/8
The computer network equipment maker reported earnings in its first quarter 12 cents a share, beating estimates. The company also said it would split its stock 2-for-1.
Synopsys, down 8 15/16 at 37 9/16
The developer of design software for semiconductors was downgraded to ``market outperform″ from ``recommend list″ by Goldman Sachs. Separately, Synopsys said it plans to buy back as much as $200 million of its stock.