Big Movers in the Stock Market
NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market.
American Medical Security Group, up $1.04 at $12.64
The marketer of health care benefits and insurance products reported better-than-expected fourth-quarter results and raised its forecast for 2002.
Sprint Corp. PCS Group, down $2.77 at $10.99; Sprint Corp. FON Group, down $2.18 at $13.83
The telecommunications provider failed Monday to meet analysts’ expectations for the fourth quarter. Sprint’s FON Group, which includes businesses such as local and long-distance calling, lost $906 million, while its PCS Group, which focuses on the wireless market, lost $328 million.
Colgate-Palmolive Co., down 37 cents at $55.96
The consumer products company reported a 3 percent increase in fourth-quarter profits, meeting expectations.
Ciena Corp., down $1.12 at $9
Optical networking equipment maker Ciena announced Tuesday it will cut 400 jobs, or 12 percent of its work force, and expects its first-quarter loss to be nearly double what analysts expected.
Nextel Communications Inc., down $1.73 at $5.05
The company said Tuesday that it had met its goals for new subscribers and cash flow, but was hurt by weakness in the overall wireless communications sector.
Antares Pharma, Inc., up 94 cents at $4.55; Eli Lilly & Co., up 64 cents at $73.94
The pharmaceutical devices company announced an agreement with Eli Lilly involving some of its needle-free drug delivery technology. More specific terms weren’t released.