Big Movers in the Stock Market
Feb. 19, 2002
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NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market.
IBM Corp., down $3.63 at $99.26
The technology bellwether, which saw its stock fall sharply last week on questions about its accounting, said it will be more forthcoming about its financial data in future quarterly reports.
UAL Corp., up 36 cents at $5.36
The parent of United Airlines rose after the nation's second-largest air carrier reached a tentative contract agreement with its mechanics, averting a potentially disastrous strike.
AES Corp., down $1.51 at $5.49
The power company is restructuring and plans to decrease capital expenditures for construction by $490 million to $710 million, with room for more cuts if unexpected shortfalls occur. It will also reduce its exposure to Latin America because of the economic uncertainty there.
Travelocity.com Inc., up $5.85 at $25.05; Sabre Holdings Corp., down $2.25 at $43.03
Sabre is offering $345 million for the shares of online travel site Travelocity.com that it doesn't already own.
Protein Design Labs Inc., down $3.79 at $17.01
An SG Cowen analyst expressed concerns that one of the company's drugs might not prove effective in treating psoriasis. The company said it is still conducting research, and no finding has been made.
Medi-Hut Co. Inc., down $1 at $2.80
The medical device marketer's auditor, Grant Thornton LLP, has resigned after less than a month on the job, according to a filing with the Securities and Exchange Commission.