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CNNfn market movers
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February 23, 1999: 2:43 p.m. ET
Steel climbs on analyst upgrades, GM deal; Bright Horizons sees gloomy trading
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NEW YORK (CNNfn) - Winners and losers on Wall Street sharply diverged Tuesday, with sectors ranging from health care to television spending the day sharply mixed after investors chose whether to punish or reward corporate news.
Service Experts (SVE) sank 5-11/16 to 14 after the company, which markets air conditioners and furnaces, reported strong fourth-quarter profits but blamed unseasonable weather for lowered 1999 earnings expectations
Child-care provider Bright Horizons Family Solutions (BFAM) also fell, sliding 4-3/8 to 19-7/8 after shareholders greeted the company's efforts to maintain profit margins in a "difficult" labor market less than enthusiastically.
On the brighter side, Sports Authority (TSA) got an upgrade to "market perform" from "underperform" from Goldman Sachs, lifting shares 3/4 to 6-3/4.
Shares of Ballard Power Systems (BLDPF), which manufactures pollution-free fuel cells based on proton exchange, climbed 2-11/16 to 28-3/8, benefiting not only from the theoretical niftiness factor but also from a "strong buy" rating from Morgan Stanley.
Corporate Executive Board (EXBD) made its debut with flying colors, climbing 5-13/16 from its starting price of $19 in its first day of public trading. The company markets corporate research and training to a wide range of influential companies.
Health care symptoms mixed
Shares of New American Healthcare (NAH) tumbled 4-5/16 to 3-1/8 after the company warned that earnings will disappoint for both fiscal 1999 and 2000. The company cited pricing pressures in the managed-care field, lower-than-expected growth and slowing physician recruitment.
Humana (HUM), however, climbed 7/16 to 18-5/16 after being rewarded with a "buy" rating from Donaldson, Lufkin & Jenrette.
Investors didn't let seemingly disappointing profits from leading U.S. hospital chain Columbia/HCA Healthcare (COL) stop them from nibbling at the stock, lifting shares 5/16 to 18-11/16.
Sunshine online
Internet stocks were more unilaterally optimistic, led by a newcomer and encouraging news from several of the sector's mainstays.
Trimark Holdings (TMRK) embraced the Internet and became one of the day's winners, gaining 23/32 to 7-5/8 after announcing that it will license its back film catalog to Broadcast.com (BCST) for online viewing. Broadcast.com shares surged 7-3/16 to 77-1/2.
Internet provider America Online (AOL) climbed 1-15/16 to 88-1/2 despite overnight news that German publishing powerhouse Bertelsmann (FBTG) is thinning its 1.9 percent stake in the company.
E*Trade (EGRP) shares slid 9/16 to 48 despite being promoted to the S&P 400 MidCap index to replace bank holding company SouthTrust (SOTR). SouthTrust, which is moving to the S&P 500, climbed 2-31/32 to 40-11/16 on buying from index funds looking to complete their portfolios.
Internet and traditional book retailer Barnes & Noble (BKS) was another of the sector's scattered decliners, sinking 4-5/8 to 31-1/8 as investors turned away from encouraging same-store growth to focus on a profit warning. Online competitor Amazon.com (AMZN) gained 8-15/16 to 115-7/16.
Steel firms, TV mixed
A groundbreaking $11.7 billion long-term supply deal with leading steel user General Motors (GM) lifted shares of several U.S. steel makers. Bethlehem Steel (BS) climbed 3/8 to 8-5/16, AK Steel Holding Corp. (AKS) firmed 3/8 to 22-1/4 and LTV (LTV) inched up 1/16 to 5-7/8. USX - U.S. Steel (X) gained 1-5/16 to 26-1/16.
Shares of National Steel (NS) climbed 1-7/8 to 8-5/8 after being rated a "buy" by Salomon Smith Barney. The investment firm rated USX-U.S. Steel and Bethlehem Steel as buys as well.
Mixed reaction to two news-making television deals focused Wall Street's gaze on the TV sector. Adelphia Communications (ADLAC) shares fell 1-5/8 to 60 after the cable operator spent $2.1 billion in cash, stock and assumed debt to purchase privately-held FrontierVision Parners LP.
Hopes of more consolidation to come pushed shares of other cable operators narrowly higher, with Cablevision (CVC) up 1-7/8 at 66-3/8 and MediaOne (UMG) up 13/16 at 56-1/4. Comcast (CMCSK) dipped 1-1/32 to 75-1/32, while sector giant TCI (TCOMA) eased 5/16 to 65-11/16.
Global investors were more sympathetic to British Sky Broadcasting (BSY), lifting the company's American depositary receipts (ADRs) 1-1/8 to 52 on reports of possible merger talks with European pay-TV powerhouse Canal Plus (PAN). ADRs of BSkyB parent company News Corp. (NWS) crept up 3/16 to 29-3/8. 
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