Big Movers in the Stock Market
NEW YORK (AP) _ Some of the stocks that moved substantially today on the New York Stock Exchange, Nasdaq Stock Market, and American Stock Exchange.
Pier 1 Imports, down 1 1/2 to 10 1/2.
The Fort Worth, Texas specialty retailer said it would incur a one-time loss of $20 million due to a financial consultant’s inappropriate trading activities with company cash.
Nucor Corp., up 1 1/8 53 7/8.
The Charlotte, N.C.-based steel company was upgraded by Salomon Brothers to ``buy″ from ``hold.″ The brokerage cited a recent price increase and noted Nucor is a price trend leader. Other steel companies were higher.
Coca Cola, up 2 5/8 to 74 5/8.
The beverage maker, which has fallen eight points in eight trading days, rebounded. The company last week made disappointing global sales projections.
Guidant Corp., up 7/8 to 37 3/8.
Ventritex Inc., up 3/16 to 20 3/4 on the Nasdaq.
Both companies make implantable defibrillators _ devices implanted in the body which detect faulty heart rhythms and trigger electric shocks to restore a normal beat. Ventritex, based Sunnyvale, Calif, said regulators approved the latest model of its Cadet line. Guidant, based in Indianapolis, announced the release of its latest Ventak Mini model.
Cyrix Corp., down 2 to 23 1/8.
The Richardson, Tex. computer chip maker predicted a fourth-quarter loss of more than 40 cents a share.
Molten Metal Technologies Inc., down 3 5/8 to 31 1/8.
An article in Barron’s quoted scientists and consultants as saying the Waltham, Mass. recycler of industrial wastes may face difficult times even though it hopes to break even in 1995 for the first time.
Versa Technologies, up 2 1/4 to 16 1/2.
Barron’s said the Racine, Wisc. maker of silicone and rubber industrial parts has a good long-term track record, but is likely to miss an analyst’s profit estimate for the fiscal year ending in March.
Personnel Management, down 3 to 5 3/4.
The regional temporary personnel company, based in Greenwood, Ind., said it will have to restate results for fiscal year ending October 1995 due to accounting errors and other adjustments. Its chief financial officer James Burnette resigned.
Spectrum Signal Processing Inc.//sspif The Barnaby, British Columbia maker of multimedia hardware and software got a positive report from CNBC analyst Dan Dorfman. Dorfman quoted Robb Knie, publisher of the Equity Advisory newsletter, as saying sales of the company’s products are soaring.
Magellan Health Services Inc., up 1 to 23 5/8.
The Atlanta-based operator of psychiatric hospitals gained for a second day after Texas investor Richard Rainwater and his wife, Darla Moore, a former Chemical banker, bought 12.3 percent of the company, formerly known as Charter Medical Corp.
Thermo Fibertek Inc., up 1 to 22 3/8.
An article in Investor’s Business Daily quoted a Lehman Bros. analyst as saying the Waltham, Mass. maker of machines for the paper processing and recycling industry will earn 45 cents per share in 1995, up from 27 cents last year.
Epitope Inc., up 4 1/2 to 17 7/8.
SmithKline Beecham PLC, up 1/8 to 54 1/2.
The Beaverton, Ore., biotechnology company said it received notice from regulators that its latest AIDS virus test device using saliva instead of blood will probably be approved. The new test is designed to confirm test results gotten from a preliminary saliva test Epitope already makes. SmithKline Beecham PLC, markets the device, called OraSure.