Big Movers in the Stock Market
Jan. 15, 1999
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.
General Mills, up 2 1/8 at 83 15/16
The Minneapolis-based company purchased Lloyd's Barbeque Co., a producer of refrigerated convenience foods which includes a top-selling national brand of ready-to-heat barbecued meats.
Reader's Digest, up 2 3/16 at 28 1/4
Time Warner is in talks to exchange some of its Time Inc. publishing assets for a stake in the Pleasantville, N.Y., publisher.
eBay, up 11 5/16 at 236 5/8
The online auction company announced a number of initiatives to combat fraud, misrepresentation and bidding irregularities by people using its service.
Biogen, up 3 23/64 at 93 39/64
The Cambridge, Mass., biopharmaceutical company reported that its fourth-quarter earnings were $41.9 million, or 54 cents a diluted share, from $31.7 million or 42 cents a share a year ago. The results met Wall Street analysts' estimates. The company also predicted a strong 1999.
Xoom.com, up 11 1/16 at 59
The Internet direct-marketing company and InfoSpace.com formed an alliance to make InfoSpace the exclusive provider of online white pages, yellow pages and classifieds for Xoom.com members.
IDT, down 3 3/8 at 10
The Hackensack, N.J.-based offers telephone and Internet access provider expects to report earnings below Wall Street analysts' projections for the second quarter ending Jan. 31.
Microchip Technology, down 4 3/8 at 35 3/8
The Chandler, Ariz.-based company's third-quarter earnings were below Wall Street analysts' estimates. A number of investment firms downgraded the memory-product makers stock.
Platinum Technology International, down 5 1/2 at 13 3/16
The York, Pa., dental products maker expects fourth quarter earnings to fall short of Wall Street analysts' expectations.