Markets & Stocks
CNNfn market movers
December 15, 1998: 12:06 p.m. ET

Internet stocks roll again, MovieFone is a blockbuster, Del Monte slips on bananas
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NEW YORK (CNNfn) - A smidgen of upbeat news for the Internet sector spurred a new round of buying of the pre-eminent stocks there Tuesday.
     Getting two thumbs up from investors was MovieFone (MOFN), soaring 3-1/4 to 15-1/15, or 27 percent, after the telephone-based movie listing and ticketing services provider announced it expects a 30 percent gain in usage in 1998.
     The company also partnered with three large theater chains that are expected to add another 1,000 screens -- a gain of 40 percent -- to the total number MovieFone services.
     Network Solutions (NSOL) exploded up 8-1/2 to 115-1/2 after the Internet domain-name registrar announced a marketing pact with top portal provider Yahoo! (YHOO). Shares of Yahoo! were up 3-7/8 to 195-1/8.
     Meanwhile, rival portal Infoseek (SEEK) shot up 5-3/4 to 46-15/16 after Merrill Lynch upgraded that stock in the wake of announcing the new "Go" network with partner Walt Disney (DIS). Shares of Dow issue Disney rose 1/2 to 31-1/8.
     And America Online (AOL) rallied 3 to 93-1/4 after announcing a joint venture to develop Spanish and Portuguese language online services for Latin American consumers.
     Elsewhere in the sector, (AMZN) rose 7-13/16 to 230-1/16, Net investor CMG Services (CMGI) gained 4-3/4 to 70-3/4, and search engine developer Inktomi (INKT) gained 4-3/8 to 129-3/4.
     Two recent initial public offerings in the Internet sector also were on the uptick, with (TGLO) tacking on 2-51/6 to 32-15/16 and (XMCM) gaining 1-7/8 to 23-5/8.
     One fruit vendor was slipping on bananas, while a rival weathered a market storm as they tallied the impact on their bottom lines of Hurricane Mitch in Central America last October.
     And Fresh Del Monte Produce (FDP) tumbled 2-3/16 to 17-15/16 after saying late Monday it will post weaker-than-expected fourth-quarter results because an expected rise in banana prices hasn't appeared.
     But Dole Foods (DOL) was unchanged at 29-3/8 after announcing it will report a fourth-quarter loss and take a $100 million charge due to the effects of Hurricane Mitch.
     For a look at the day's market action, and a glimpse at more hot stocks, such as Caterpillar (CAT), Owens Corning (OWC), Eastman Chemical (EWC), General Electric (GE), Sun Microsystems (SUNW), Oracle (ORCL), Cisco (CSCO), and WorldCom (WCOM), click here. Back to top


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