Big Movers in the Stock Market
Sep. 10, 2001
NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Monday on the New York Stock Exchange and Nasdaq Stock Market.
Louis Dreyfus Natural Gas Corp., up $5.38 at $38.34; Dominion Resources Inc., down $3.33 at $59.30
Dominion Resources is buying Louis Dreyfus Natural Gas for $1.8 billion in cash and stock in a deal that will increase its natural gas reserves by 60 percent.
Coventry Health Care Inc., down $2.95 at $17.75
Prudential Securities downgraded the stock from ``hold'' to ``sell'' on worries that it is overvalued.
American Skiing Co., up 5 cents at $1.04
The cash-strapped resort operator has agreed to sell its Sugarbush resort in Vermont to an investment group for an undisclosed amount.
American Coin Merchandising Inc., up $2.14 at $8.10
The operator of coin-operated skill-crane machines that dispense stuffed animals and other items has agreed to be acquired by a new corporation consisting of investment firms Wellspring Capital Management LLC and Knightsbridge Holdings LLC for about $125 million, including the assumption of debt.
Avici Systems Inc., down 69 cents at $2.09
The provider of high-speed data networking equipment lowered its third-quarter estimates, citing soft demand and slow orders. The company is also trimming 14 percent of its work force.
Anadigics Inc., up $1.72 at $13.57
The telecommunications chipmaker raised third-quarter revenue estimates because of renewed strength in its wireless business.