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.
Emphesys Financial Group rose 8 7/8 to 36 1/4.
Humana rose 1/4 to 18 1/2.
Humana agreed to buy Emphesys, a Green Bay, Wis., commercial health insurer, for about $650 million a year, or $37.50 a share.
Philip Morris rose 1/8 to 73 5/8.
R.J. Reynolds. fell 1/4 to 27 7/8.
UST Inc. rose 3/8 to 28 3/8.
American Brands, unchanged at 41 1/2.
Tobacco stocks were mixed after President Clinton directed the Food and Drug Administration to restrict the marketing of cigarettes to children. Cigarette makers promptly sued the FDA, seeking a judicial ruling that the agency has no authority to regulate cigarette sales.
International Paper fell 2 3/8 to 82 3/8.
Georgia Pacific fell 1 1/4 to 89 3/4.
Weyerhaueser fell 1 3/8 to 46 1/4.
Stone Container fell 3/4 to 20 1/2.
Paper stocks fell after a report that a Smith Barney analyst had warned of price increases in the market for linerboard, and market analyst Elaine Garzarelli named the sector as one area to avoid.
Oakley, Inc. rose to 27 1/8 from an original offering price of $23.
The Irvine, Calif. high-end sunglasses maker priced its original stock offering at 23 after the close of trading on Wednesday. The stock opened this morning at 27, a signal that a healthy appetite remains for some IPO’s, even if they are not technology-related.
Hewlett-Packard rose 1/2 to 75 5/8.
The computer maker settled a patent suit with LaserMaster.
Fruehauf Trailer fell 1/2 to 2 3/4.
Second-quarter operating net earnings were 7 cents a share on more shares outstanding, up from 4 cents a year ago. The trucking company, reporting a slight gain in its new trailer order backlog, said it believes industry demand has leveled off, but remains strong in relation to historical levels.
Netscape fell 6 7/8 to 61 3/8.
The stock soared 30 1/4 points from its original offering price on Wednesday of $28 per share, sparking a buying spree in technology shares.
Intel fell 1 7/8 to 74 1/4.
Microsoft fell 2 3/8 to 94 1/8.
Computer-related stocks were taking a breather after making strong gains on Wednesday, on the tails of Netscape and Microsoft. Microsoft rose 3 points after the Justice Department said it would not pursue an anti-trust action against the software maker before the Aug. 24 introduction of its hotly anticipated Windows 95 operating system.
cisco Systems rose 1 11-16 to 58 1/4.
The maker of computer network products agreed to buy Combinet Inc., a privately held maker of ISDN remote-access networking products, in a deal valued at $114.2 million.
Ericsson Telephone rose 7-16 to 20 1/2.
McCaw Cellular Communications, an AT&T subsidiary, said it would order nearly 3.2 billion kronor worth of equipment from AT&T Network Systems and Ericsson over the next several years.
Maxim Integrated Parts rose 7 3/4 to 76 3/4.
SoundView Financial, the Connecticut firm that specializes on technology stocks, initiated coverage with a ``buy″ rating and said the company could generate $3.55 per share in 1996 net earnings, and $3.00 in fiscal 1997. On Wednesday, the analog-products supplier reported net income of $1.17 a share for the fiscal 1995 year ended June 30.
Cheyenne Software rose 1 to 20 1/4
The company said Wednesday it had expanded its Original Equipment Manufacturer agreement with Hewlett-Packard and will furnish Hewlett with Hierarchical Storage Management technology for inclusion in Hewlett’s network management software, HP OpenView.