Big Movers in the Stock Market
NEW YORK (AP) _ Stocks that have been moving substantially or trading heavily today on the New York Stock Exchange and Nasdaq Stock Market.
Consolidated Papers Inc., up 10 1/2 at 36 1/2
The Wisconsin Rapids, Wis.-based paper company agreed to be acquired by Scandinavian forest products company Stora Enso for about $4 billion, or $44 per share.
Ascent Entertainment Group Inc. up 4 11/16 at 14 13/16
John Malone’s Liberty Media Group agreed to acquire the Denver-based sports and broadcasting company for about $460 million or $15.25 per share. Ascent owns a majority interest in On Command Corp., a leading provider of on-demand video services in hotel rooms.
Sterling Commerce, up 12 at 43 9/16
SBC Communications announced a $44.25-per-share cash offer to acquire Dublin, Ohio-based Sterling, an Internet software company.
Nextel Communications, up 12 5/16 at 131
The Reston, Va.-based wireless phone company posted a lower-than-expected loss for the most recent quarter and announced a 2-for-1 stock split.
Travel Services, up 7 3/4 to 25 1/2
The company, based in Delray Beach, Fla., agreed to be acquired by Airtours LLC for $26 a share, or $385 million.
Cell Pathways Inc., down 7 3/8 to 49 7/8
Forbes reported that analysts at Avalon Research group don’t believe Horsham, Pa.-based Cell Pathway will win approval for its Aptosyn drug.