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CNNfn market movers
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April 9, 1999: 11:28 a.m. ET
MGC marches on, the Gap fits just right, but Sun Healthcare has an eclipse
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NEW YORK (CNNfn) - Investors were selective in their use of Newton's law of gravity Friday, as some stocks that have gone up just continued doing so.
MGC Communications Inc. (MGCX) continued its winning ways, up 8-1/8 to 45-5/8. The company got a boost Thursday when a Barings Furman Selz analyst raised his price target for the company from $27 to $90.
Medtronic Inc. (MDT) sent investors' hearts pattering as the biggest U.S. maker of heart-rhythm management devices said the U.S. Food and Drug Administration approved its GFX2 coronary stent system, which is used in the treatment of coronary artery disease. The company was up 1-15/16 at 72-13/16.
The Gap Inc. (GPS) had the right fit as its stock rose 3-3/4 to 76-1/2. The company had reported that same-store sales were up 21 percent in March.
Shares of e.spire Communications Inc. (ESPI) aspired to new heights, rising 2-1/8 to 14-11/16 after First Union Capital Markets' Frank Murphy said in Business Week's "Inside Wall Street" column that the telecom's shares were undervalued and the company is a potential takeover candidate.
Rocky Mountain Internet Inc. (RMII) was on a high, climbing 1-3/8 to 12-3/4, after it said late Thursday that it had recently agreed to purchase the assets of two full-service telecommunications companies, UStel Inc. and Arcada Communications Inc., which filed for bankruptcy last month.
The nation's fifth largest retailer, J.C. Penney Co. (JCP) was up 1 at 41-7/8 , after analysts said in published reports that the company would be worth more if it were split in two or three separate stocks.
Lower the lifeboats
It was a dark day for Sun Healthcare Group Inc. (SHG). The health care provider said it will cut 10,000 jobs, freeze wages, sell certain assets and trim debt. The company's stock was down 1/8 to a lowly 13/16.
One day after meeting Wall Street earnings expectations and hitting a record share price Biogen Inc. (BGEN) started to climb back down from the mountain, dipping 5-5/8 to 114-3/8.
Infosys Technologies Ltd (INFY), the only Indian firm to be listed on a U.S. exchange, was down 2 to 42-3/4. The company said on Friday that it started to set up a new rupee-denominated employee stock offer plan and would set aside 3.3 million shares for the stock offer.
Cerner Corp. (CERN), a health-care information-management company, was looking for the ER after its shares fell 3-3/16 to 11-7/8 on word that first-quarter earnings will fall below analysts' estimates.
Also in the health-care field, Genentech Inc. (GNE) was down 1-3/8 to 84-1/8 after the biotech company said it won't file for U.S. approval of a drug it's developing with Roche Holding AG because the drug failed to meet the goal of a late-stage study. 
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