Big Movers in the Stock Market
Apr. 30, 1998
NEW YORK (AP) _ Some of the stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange, Nasdaq Stock Market, and American Stock Exchange.
TriStar Aerospace, up at 16 1/2 from IPO at 16
The Dallas-based distributor of aerospace fasteners and related hardware sold about 13.3 million shares for $16 a piece in an initial public offering of stock. The shares were sold by Odyssey Partners and other TriStar investors, and the company will not receive any proceeds from the offering.
Watson Pharmaceuticals, up 3 1/2 at 43 1/16
The drugmaker posted a first-quarter profit that exceeded Wall Street forecasts as sales more than doubled from year-ago levels. Watson is based in Corona, Calif.
Suiza Foods, up 4 1/8 at 59 1/4
The Dallas-based dairy products distributor reported first-quarter results above analyst expectations. Suiza said its profit margin increased due to improved operating efficiencies and strong sales in certain units.
Food Technology Services, up 1 at 5 1/8
Shares of the food sterilization company rose after Wednesday's recall of more than 282,000 pounds of ground beef by IBP following the discovery of contamination with a virulent strain of E. coli bacteria.
Neurex, up 1 1/2 at 29 15/16
The stock rose for a second session after Neurex agreed to be acquired for stock valued at $700 million by Elan, an Irish company that makes drug-delivery systems. Elan is to swap 0.51 share of its stock for each share of Neurex, which is based in Menlo Park, Calif.
Krantor, down 13/16 at 2 3/16
The stock retreated after nearly doubling on Wednesday after the company announced a new marketing program for its cigars on the Internet.