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CNNfn market movers
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February 10, 1999: 11:32 a.m. ET
Profit weakness spells stock fall for Segue, Marcam, Unum; Seagate climbs
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NEW YORK (CNNfn) - Jittery investors took out their fears on companies reporting even a hint of profit weakness Wednesday, leaving individual stock gains scattered and defensive.
Segue Software (SEGU) tumbled 4-1/4 to 11-11/16 despite 1998's record revenue after the company reported that, counting mergers with software rivals Eventus and Black & White Software, it had lost 19 cents per share in the fourth quarter. Not counting the merger costs, the company's loss narrowed to 2 cents per share.
Fellow software player Marcam Solutions (MRCM) also suffered the wrath of Wall Street for reporting a loss, falling 1-1/2 to 4.
"Our performance this quarter was impacted by a significant shortfall in revenue," said Chairman, Chief Executive Officer and President Jonathan C. Crane, who added that the company will restructure to maximize shareholder value.
Ad-savvy Columbia Sportswear (COLM) tried to put a positive spin on its own flat fourth-quarter profit, noting that sales had touched a record in the period despite unseasonably warm weather in many parts of North America.
Shareholders, however, ignored the company's vow to improve cost controls, driving the stock down 3 to 12-3/4.
Widening loss margins also sank shares of Sinclair Broadcast Group (SBGI) 2-5/8 to 14-1/8. The broadcast media firm blamed its per-share fourth-quarter loss of 14 cents on a worsening national advertising environment, but saw an encouraging upside in ongoing industry consolidation.
Separately, the company's CEO-designate Barry Baker quit the company he had run on a consultant basis for three years. Baker said he wanted to build new businesses and pursue personal opportunities.
Downgrade and disappointment
Vitamin maker Natural Alternatives International (NAII) suffered, falling 1-5/8 to 5-3/8 after reporting quarterly profit had declined by 75 percent and receiving a rating downgrade from "accumulate" to "market perform" from Adams Harkness.
Profits at disability insurer UNUM Corp. (UNM) missed Wall Street estimates by 2 cents, spurring Donaldson, Lufkin & Jenrette to strike the stock from its "top pick" list and sending shares down 6-3/8 to 49-7/8.
Punished in advance for bad news to come, System Software (SSAX) fell 15/16 to 3-13/16 after warning shareholders that first-quarter earnings will fall short due to shrinking licensing revenue, a major component in Wall Street's evaluations of software companies.
Lycos rumbles continue
Wednesday also marked the second day of a broad-based Internet sell-off, led by sharp disappointment over the merger of Lycos (LCOS) and USA Networks (USAI).
USA spin-off TicketMaster Online-CitySearch (TMCS), which will combine operations with Lycos, continued its dramatic descent, falling 6-5/8 to 35-5/8.
Leading USA competitor Shop-at-Home (SATH) also extended its plunge, sinking 3 to 17 on fears that the Lycos deal now puts the TV and Internet retailer back on the defensive.
Elsewhere online, brokerage E*Trade (EGRP) slid 1-11/16 to 38-1/2, while rival Ameritrade (AMTD) was one of the morning's few major Internet winners, gaining 8 to 73-1/16.
In brighter technology news, disk maker Seagate Technology (SEG) climbed 1-7/8 to 36-1/4 after announcing that its software subsidiary would provide Microsoft with reporting and analysis systems for use in a popular server product. 
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