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CNNfn market movers
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October 7, 1998: 2:49 p.m. ET
Waste Management dumped, Capital One crunched, and Net sector stumbles
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NEW YORK (CNNfn) - Throbbing pain struck some consumer lenders and a heap of trash haulers got scrapped Wednesday amid an overall indecisive day on Wall Street.
Consumer lenders were getting pinched Wednesday by credit tightness, highlighted in a morning speech by Federal Reserve chief Alan Greenspan, and fears of U.S. recession down the road.
Among the primary losers were Capital One Financial (COF), plummeting 10-11/16 to 64-5/16, Providian Financial (PVN), off 7-7/8 to 55-7/16, Metris (MTRS), down 4 to 18-1/2, Household International (HI) slipping 1-7/8 to 28-1/8, and Associates First Capital (AFS), losing 4-1/2 to 50-1/4.
Analysts said there was little connection to Wednesday's announcement of a U.S. Justice Department antitrust lawsuit against Visa USA and MasterCard International. Many of those companies offer those cards.
Rigor mortis may be setting in at The Loewen Group (LWN), which lost 2-3/4 to 8-7/8 after North America's second-largest funeral home operator shook up its board and warned earnings would fall short of analyst estimates for its third quarter.
Resource America (REXI) climbed 13/16 to 9-3/16 after the New York-based investment firm Radcliffe, Mitchell & Weiss said it will buy the company, which restructures troubled commercial loans, for $15 a share.
Among the superlative bright spots on Wall Street, Summa Industries (SUMX) climbed 1-5/8 to 9-1/18 after the maker of plastic optical components for the lighting industry reported operating earnings of 33 cents a share in its fourth quarter. The First Call analyst estimate was for 23 cents a share.
Waste Management (WMI) was trashed, losing 10-3/16 to 37, after Deutsche Bank Securities cut its earnings estimates and price targets on solid waste industry issues.
Also cut by Deutsche Bank were Allied Waste Industries (AWIN), down 1-13/16 to 19-7/8, and Browning-Ferris Industries (BFI), which slipped 7/8 to 32-1/8.
Internet players roughed up
SportsLine USA (SPLN) got tackled, tumbling 7-1/16 to 9-5/16 after the online sports news provider said it will report a loss of 41 cents a share for the third quarter, in line with analyst expectations.
But SportsLine said revenue will come in below expectations at $7.4 million, due partly to lower-than-expected advertising sales and despite strong e-commerce results.
MindSpring Enterprises (MSPG) fell 3-7/16 to 30-1/16. Michael Misikoff, chief financial officer at the Internet service provider, said Tuesday he will resign later this year.
Rival EarthLink Network (ELNK) dropped 5 to 32-1/4.
Elsewhere in the Internet world, search engine provider Yahoo! (YHOO) dropped 9-3/16 to 115-5/8, Excite (XCIT) dipped 4-1/4 to 34-7/16, Lycos (LCOS) tumbled 3-7/8 to 26-1/4 and Infoseek (SEEK) lost 4 to 20-1/8.
Barnes & Noble (BKS) climbed 2-3/16 to 25-3/4 after German publisher Bertlesmann said it will buy a $200 million stake in the book retailer's barnesandnoble.com online service. Barnes & Noble said it had put off its planned public offering of the online unit in light of the announcement.
The deal put pressure on rival and bellwether Internet issue Amazon.com (AMZN), which sank 13-13/6 to 93-1/2, or 13 percent.
Elsewhere, investors were turned off to Advanced Lighting Technologies (ADLT), which slipped 1-1/32 to 6, or more than 14 percent, after the lighting products maker said it expects fiscal first- quarter earnings to fall as much as 40 percent from the 17 cents a share a year ago.
The company cited weakness in global markets. The consensus analyst estimate by First Call was for earnings of 21 cents per share.
Symantec (SYMC) dipped 11/16 to 9-7/8 after the software security company said late Tuesday its fiscal second-quarter operating profit will be about 18 cents per share. The company offered no explanation in a press release.
Global Industries (GLBL) dipped 1-11/16 to 7-7/16 after the oil pipeline and platform builder said it expects fiscal second-quarter earnings to fall more than 40 percent short of Wall Street targets due to bad weather in the Gulf of Mexico and stalled activity in Mexico.
Analysts polled by First Call expected earnings of 22 cents a share in the quarter. 
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