Big Movers in the Stock Market
Jun. 05, 1996
NEW YORK (AP) _ Some of the stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange, Nasdaq Stock Market, and American Stock Exchange.
Nabisco Holdings, up 1/2 at 35
The maker of Oreo cookies and Ritz crackers will boost its quarterly dividend by 12.7 percent to 15 1/2 cents a share from 13 3/4 cents. Nabisco will pay the new dividend July 1 to shareholders of record June 14. In the first quarter, Nabisco earnings increased 10 percent to $53 million. Nabisco is 80.5 percent owned by the food and tobacco concern RJR Nabisco Holdings.
McDonnell Douglas, up 1/8 at 51 1/4
Union leaders stormed out of negotiations and 6,700 machinists at McDonnell Douglas' St. Louis plant went on strike, protesting the aerospace company's growing use of nonunion workers. The plant continued to operate. No new talks were scheduled. The workers build F-15 and the FA-18 fighters, the Navy's T-45 training jet, and part of the Air Force's C-17 cargo plane. They also are upgrading the Harrier strike aircraft.
Wackenhut Corrections, up 6 1/2 at 44 3/4
The company won two new contracts to build and operate prisons. On Wednesday, Wackenhut announced a contract to design, construct and operate a 1,000-bed prison in Charlotte County, Va. Terms were not disclosed. On Tuesday, Wackenhut announced a $49 million, five-year contract from the U.S. Immigration and Naturalization Service to operate a detention facility near New York's John F. Kennedy International Airport.
America Online, down 5 3/8 at 47 5/8
Analysts at Montgomery Securities and Cowen & Co. downgraded their opinions on the stock amid doubts about the online service's ability to sustain its growth amid growing interest in the Internet.
Helen of Troy, up 2 1/2 at 29 1/2
The company, which sells hair-care appliances under the names Vidal Sassoon and Revlon, is splitting its stock 2-for-1. On July 1, Helen of Troy will swap two new shares for every old one held as of June 17. The company, which sells products such as hair dryers, curling irons, combs and brushes, currently has nearly 6.5 million shares outstanding.
Miltope, up 4 9-16 at 7
The designer of microcomputer and computer peripheral equipment received a five-year U.S. Army contract valued at $80.7 million. Miltope will supply tools to diagnose and repair weapon systems and display technical manuals electronically.
Proxima, down 1 7/8 at 14 1/8
The maker of multimedia projection products expects fiscal first-quarter results to be below expectations. Proxima said the transition to new products were hurting sales and earnings more than anticipated. The company explained it was having difficulty maintaining sales of older products as the new products were being introduced.
Yes Clothing, down 1/2 at 1 5/8
The company named Guy Anthome its chairman and chief executive after Georges Marciano sold Anthome 3.5 million Yes shares for about $35,000. Marciano retains 2.7 million shares. Marciano took over Yes a year ago and invested $3.3 million in the in the ailing company. At the time, he owned an 80 percent stake. Marciano resigned as chairman of rival Guess Inc. in 1993 when his brothers bought him out for $220 million.
ValuJet Airlines, down 1/2 at 13 3/8
The carrier reported it had 7.4 percent fewer passengers in May in the aftermath of the fatal crash of a ValuJet plane in the Florida Everglades. ValuJet flew 378,652 passengers in May and its planes were 52.7 percent full, down from 71.5 percent in May 1995. The airline also reported a 6 percent drop in revenue passenger miles, a key measurement, to 190.9 million. A revenue passenger mile is one paying passenger flown one mile.
Opta Food Ingredients, down 4 at 12 1/2
The company expects its second quarter and fiscal 1996 revenues and earnings to fall below current Wall Street estimates. Opta attributed the disappointing results to delays and costs in the launch of certain products, and expenses from new production facilities.
Computer Learning Centers, up 5 1/4 at 23 1/4
The provider of computer-related training services reported a first-quarter profit, reversing a loss in the year-ago quarter. Computer Learning Centers said late Tuesday it earned $1.2 million, or 27 cents a share, for the three months ended April 30. The company attributed its improved results to increased enrollment and the growing popularity of its longer training programs, which include associate degree programs.