Big Movers in the Stock Market
Jun. 21, 2002
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NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market.
IBM Corp., down $2.83 at $68.75
Lehman Brothers reduced its estimates on the technology company, citing soft spending on information technology by its customers.
Merck & Co., down $2.22 at $49.98
A Wall Street Journal story questioned the pharmaceutical company's accounting practices. The company said its bookkeeping reflects standard practices.
Rite Aid Corp., up 11 cents at $2.69
Four current or former executives of the drug store company were indicted for securities and accounting fraud, but no fines were levied against the company itself.
Amdocs Ltd., down $5.96 at $8.60
The provider of billing and customer-service software reduced its quarterly forecast and announced a restructuring. The company's chief executive is also stepping down three months earlier than planned.
American Healthways Inc., down $5.56 at $16.74
The firm, which specializes in management of chronic-care patients, indicated it might not meet its previous forecast for case volume by year's end. The company did beat third-quarter earnings estimates, however, and raised its estimates for the entire year.
Qualcomm Inc., down 21 cents at $26.12
The wireless technology company boosted its quarterly forecast because of strong demand for its products.
Terayon Communication Systems Inc., down 25 cents at $1.28
The supplier of broadband networking systems reduced its second-quarter revenue outlook by half because of problems including a slowdown in demand and lower selling prices for cable modems.