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CNNfn market movers
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March 19, 1999: 11:45 a.m. ET
Hot Topic, Spelling lead teen-oriented advances; Cambridge Tech plunges
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NEW YORK (CNNfn) - Investors found a fountain of youth on Wall Street Friday, sending shares of a number of adolescent-focused companies higher, while big paper makers blew in different directions after mixed analyst recommendations.
Youth-oriented retailer Hot Topic (HOTT) leapt 4-9/16 to 17-1/4 on the strength of the company's unexpectedly high fourth-quarter profits, as well as encouraging words from BancBoston Robertson Stephens analyst Janet Joseph Kloppenburg. Kloppenburg raised her near-term earnings forecasts for the company, calling it "significantly undervalued."
Spelling Entertainment Group (SP), creator of such television programming as "Beverly Hills 90210" and "Seventh Heaven," soared 2-11/16 to 9-7/16 after entertainment giant Viacom, the entertainment giant, made a $9-per-share bid for all outstanding Spelling shares. Viacom B (VIA.B) stock slid 1-9/16 to 86-1/4; the A class shares were down 1-3/8 to 85-1/4.
On the broadcast side, shares of cable TV operator Cox Communications (COX) surged 3-1/4 to 80-5/16 in the wake of the company's two-for-one split announcement.
The morning's list of losers includes software consultant Cambridge Technology Partners (CATP), which plunged 9 to 12 after warning overnight that lower software licensing revenue would dig deep into current-quarter profits. Stock analysts often scrutinize licensing revenue as a key indicator of software companies' business outlook.
Children's Comprehensive Services (KIDS) was left out of the youth rally, falling 4-1/16 to 7-1/16 after the for-profit operator of centers for troubled youth said operating losses at its California centers would contribute to flat earnings in the fiscal third quarter.
Teen-targeted clothing retailer dELiA*s (DLIA) fell 5/16 to 26-3/8 after buzz surrounding its iTurf subsidiary's prospective public stock offering faded.
Shareholders lost patience with entertainment retailer Party City (PCTY), sending the stock down 3-5/16 to 4 on news that the company's year-end audit is taking longer than expected, a delay which "extremely disappointed" Chairman and CEO Steven Mandell.
Paper bulls and bears
Shares of major paper companies were broadly mixed in response to comments from Donaldson, Lufkin & Jenrette.
The investment firm raised its recommendations of Westvaco (W) and Dow component International Paper (IP) and to "buy" from "market perform," lifting Westvaco shares 1/2 to 23 and IP shares 11/16 to 46-1/4.
However, DLJ was not uniformly bullish on paper, downgrading its ratings of Georgia-Pacific (GP) and Temple-Inland (TIN) to "market perform" from "buy." Temple-Inland fell 9/16 to 65-3/4, while Georgia-Pacific got little encouragement from a compensatory "buy" rating from CS First Boston, sliding 2-3/16 to 77-5/16.
Elsewhere in the paper sector, Asia Pulp & Paper (PAP) climbed 9/16 to 8-1/2 and Louisiana Pacific (LPX) crept up 5/16 to 20-1/16, both without benefit of a DLJ nod in either direction. 
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