Big Movers in the Stock Market
Mar. 22, 2002
NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market.
Johnson & Johnson, up 5 cents at $64.85
Johnson & Johnson said Friday that it was purchasing Tibotec-Virco NV, a Belgium-based biopharmaceutical company, for $320 million in cash and debt. Tibotec-Virco develops anti-viral treatments and is developing several treatments for infectious diseases including HIV.
Micron Technology Inc., down 61 cents at $33.90
Micron on Thursday reported its fifth consecutive quarterly loss. For its fiscal second quarter, Micron lost 5 cents a share, a penny greater than analysts were expecting.
Nike Inc., down $3.70 at $59.50
Nike reported third-quarter earnings of 46 cents a share on Thursday, beating Wall Street's forecast by a penny. But the company also said orders for its products for March through July rose 6 percent from a year ago, lower than the 7 to 9 percent increase that was expected.
Biomet Inc., down $3.93 at $27.53
The maker of medical devices recorded third-quarter earnings that were a penny a share shy of analysts' expectations. Additionally, J.P. Morgan reduced its rating on Biomet to ``long-term buy'' from ``buy.''
Palm Inc., up 69 cents at $3.86
Palm reported a second-quarter loss of 2 cents a share, smaller than the 4-cent loss analysts were anticipating. The company's sales also beat expectations.
Applied Materials Inc., down 49 cents at $51.53
Applied Materials, the No. 1 maker of semiconductor equipment, announced it has approved a 2-for-1 stock split for shareholders of record on April 1.