Big Movers in the Stock Market
NEW YORK (AP) _ Stocks that are moving substantially or trading heavily today on the New York Stock Exchange, Nasdaq Stock Market, and American Stock Exchange.
America Online, up 4 9/16 at 88 5/16
Netscape Communications (Nasdaq), up 2 1/8 at 41 3/8
The stocks rose for a second day after The Wall Street Journal reported that AOL is discussing new partnerships with Netscape. AOL may load Netscape’s Internet browser onto AOL’s online service alongside or in place of Microsoft software, the Journal said, citing people familiar with the situation.
Tadiran, up 3 5/16 at 35 13/16
Koor Industries agreed to increase its takeover bid for Tadiran to $36.37 1/2 per share after talks with a panel of Tadiran directors. Both companies are Israeli. Tadiran makes telecom equipment, defense electronic systems, software, appliances, and batteries. Koor has holdings in telecom equipment, defense electronics and agrochemicals.
Gerber Scientific, up 3 3/8 at 23 5/8
The supplier of automated manufacturing systems reported better-than-expected results for its second quarter ended Oct. 31 and plans to repurchase of up to 3 million shares. Gerber is based in South Windsor, Conn.
Shaw Group, up 1 at 9 3/8
The supplier of piping systems for electric power and petrochemicals increased its buyback program to up to 2.7 million, or about 20 percent, of its shares outstanding. Shaw, based in Baton Rouge, La., said it has purchased about 1.4 million common shares since Aug. 24, when its board authorized the repurchase of up to 10 percent of its stock.
Fracmaster, down 11/16 at 2 11/16
The Canadian oil and gas production concern posted weak third-quarter results, blaming low oil prices at its Russian operations and a downturn in oilfield activity in North America. Fracmaster also warned late Wednesday of continuing weakness for the rest of 1998 and into 1999.
HomeBase, down 1 1/8 at 6 1/2
The home-improvement chain improved operating profits for its third-quarter ended Oct. 31, but posted a small drop in sales compared with a year ago. HomeBase, based in Irvine, Calif., blamed falling lumber prices and said the year-ago period benefited from El Nino-related sales.
RealNetworks, down 4 1/8 at 38 3/4
Microsoft is selling its 10 percent stake in the Seattle-based company, whose chairman complained to a Senate hearing this summer that Microsoft tried to ``break″ RealNetworks’ Internet multimedia software. Microsoft, which acknowledged that the relationship had soured, paid $30 million in July 1997 for the stake, which is now worth about $141 million.
Bluefly, up 4 3/16 at 12 1/16
The online retailer signed an agreement with Lycos to market its apparel and accessories on the Lycos.com, Tripod and MailCity sites. Bluefly is based in New York. Lycos is based in Waltham, Mass.
Creative Computers, down 3 at 26 3/4
The stock pulled back after surging on Wednesday amid news that Creative plans to spin off its uBid online auction unit. Creative said it would distribute 80 percent of the equity among its shareholders and sell the other 20 percent in an initial public offering.
Restrac, up 2 1/8 at 7 1/2
The developer of human resources staffing software agreed to buy Junglee Employment Services from Amazon.com for cash and about 1.7 million Restrac shares. Restrac, based in Lexington, Mass., said late Wednesday it will hold exclusive rights to Junglee’s online recruitment technologies and Junglee’s 15 Internet job posting sites.
Danka Business Systems, down 1 1/2 at 2 3/8
The London-based company warned it may have to file for Chapter 11 bankruptcy if it can’t resolve a dispute with Eastman Kodak and other financial problems. Danka, which bought Kodak’s distribution business in 1996, said the dispute involves a missed payment for parts and supplies.