Big Movers in the Stock Market
Feb. 20, 1998
NEW YORK (AP) _ Some of the stocks that moved substantially or traded heavily Friday on the New York Stock Exchange, Nasdaq Stock Market, and American Stock Exchange.
GTech Holdings, up 1 15/16 at 33 9/16
The Texas Lottery Commission announced that it had rejected all bids to replace Rhode Island-based GTech as its lottery operator.
Converse, down 9/16 at 6 9/16
The North Reading, Mass.-based sportswear maker reported fourth-quarter earnings that were below Wall Street estimates.
Ciena, down 16 1/8 at 42
The Linthicum, Md.-based telecommunications-equipment supplier warned that reduced orders from WorldCom will hurt its second-quarter profit.
DoubleClick, up at 26 3/4 from IPO at 17
The New York-based Internet-advertising concern sold 3.5 million common shares for $59.5 million, or $17 each, in an initial public offering. The size of the IPO was increased from a planned 2.5 million shares, and managers of the offering may sell 525,000 more shares to satisfy demand.
Hirsch International, down 10 3/8 at 11 1/4
The Hauppauge, N.Y.-based provider of machinery and related products to the embroidery industry said its fourth-quarter earnings will be short of analyst expectations.
Smart Modular Technologies, down 5 13/16 at 30 3/16
The maker of specialty and standard memory modules said its second-quarter earnings will probably be lower-than-expected.
PMR, down 6 3/16 at 12 3/8
The San Diego-based manager of outpatient psychiatric-treatment programs said its largest customer would lose its Medicare-reimbursement status and that its former Dallas outpatient program is under investigation.
Audio Book Club, up 7/8 at 6 5/8
The Boca Raton, Fla.-based company has registered more than 300,000 members since launching activities dedicated to audio books in January 1994.