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CNNfn market movers
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October 9, 1998: 2:34 p.m. ET
Red ink stains Encad, AMFM hears static, and Golden State bank shines
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NEW YORK (CNNfn) - A quiet day on Wall Street was marked by firms that made a simple effort at rebound following recent market turmoil.
At the forefront of those bouncing back from the recent Wall Street sell-off was Citrix Systems (CTXS), rising 7-7/8 to 57-1/8. The maker of server software also unveiled a licensing deal with PC giant Compaq Computer (CPQ) Friday.
Also on the bounce was Veritas Software(VRTS), roaring up 7-1/8 to 57-7/8 after a sharp plunge in recent trading at the maker of data-storage software.
Another software maker recently tarnished was Sterling Commerce (SE), which rose 2-3/16 to 24-13/16 after the e-commerce software maker said it is comfortable with analyst targets of 38 cents per share in earnings for its fourth quarter.
Its shares had hit a 52-week low Thursday and the stock has been pummeled by analysts' downgrades earlier this month.
Also on the upside were recently-battered mortgage insurers CMAC Investment (CMT), up 3-1/2 to 32-1/2, and MGIC Investment (MTG) gained 3-11/16 to 32-1/2.
But Impac Mortgage Holdings (IMH) plummeted 2-1/8 to 4 after the mortgage loan investment company said late Thursday it will delay a planned third-quarter dividend until the start of 1999, and report a third-quarter loss and lower-than-expected profit in the fourth quarter.
The consumer-lending company Associates First Capital (AFS), recently spun off from Ford Motor (F), rose 5-5/8 to 53-5/8.
Encad (ENCD) dropped 2-11/16 to 1-1/8 after the ink-jet printer vendor said it would post a third-quarter loss of 34 cents a diluted share, including a one-time charge, in part to mark down inventory and increase its bad-debt reserves.
The San Diego-based company cited weak sales of its Digital Textile Printing system and unexpectedly low world sales overall. Analyst consensus forecasts were for Encad to report earnings of 15 cents a share.
A day after two rivals Jacor Broadcasting (JCOR) and Clear Channel Communications (CCU) announced a $4.4 billion merger pact, radio operator Chancellor Media (AMFM) hit the skids, falling 2 to 25-5/8.
Golden State Bancorp (GSB) rose 2-3/16 to 14-1/8 after the parent of California Federal Bank said its board authorized a stock buy-back of up to $150 million of its common shares.
Scitex (SCIXF) dropped 3-3/8 to 6-1/4, more than 35 percent, after the Israeli digital-imaging company said late on Thursday it will post a third-quarter loss of 32 to 38 cents per share due to purchase delays from customers and weak world markets.
According to First Call, analysts expected Scitex to post earnings of 16 cents per share.
Well-behaved Baby Bells whine a bit
Despite showing relative resiliency as other stocks dipped in recent sessions, the regional Bell operating companies, the Baby Bells, lost a bit Friday.
The drifters were BellSouth (BLS), dropping 4-1/16 to 78-1/16, Bell Atlantic (BEL), down 1-9/16 to 50-1/16, SBC Communications (SBC), slipping 2-11/16 and its would-be merger partner Ameritech (AIT) losing 2-5/16 to 51-1/4, and U.S. West (USW) down 1-3/16 to 53-11/16. 
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