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Tuesday’s hot stocks
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January 4, 2000: 1:26 p.m. ET
New Tel soars on China news but Baan Co. tumbles on profit woes
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NEW YORK (CNNfn) - An announced entry into China’s fast-growing Internet market helped quadruple shares in a telecommunications firm Tuesday, but anticipation of an earnings disappointment tanked a software maker’s shares.
In the early session’s highest flyer,
New Tel Ltd. (NWLL) gained 313 percent after the company said it will work with the Chinese government to provide service to that country’s fast-growing Internet market.
Shares of the Australian telecommunications firm leapt 25-23/32 to 33-15/16
But Baan Co. N.V (BAANF) fell 29 percent after the maker of enterprise business management software said it expects a fourth-quarter loss between $240 million and $250 million and announced the resignation of its chief executive officer.
Netherlands-based Baan fell 4-1/4 to 10-9/16.
Startec Global Communications Corp. (STGC) gained 25 percent after the telecommunications firm said it signed an agreement to acquire up to 49 percent of Dialnet Communications, an Indian Internet service provider.
Bethesda, Md.-based Startec gained 5-5/16 to 26-11/16.
Sonic Foundry (SFO) jumped 76 percent after CE Unterberg Towbin imitated coverage on the maker of personal computer-based software products with a "strong buy.”
Madison, Wis.-based Sonic rose 18-1/2 to 43.
Labor Ready Inc. (LRW) dropped 25 percent after the temporary employment agency said earnings per share for the fourth quarter will range from 5 cents to 7 cents per share, well off the 20 cents forecast in a survey of analysts by First Call Corp.
Tacoma, Wash.-based Labor Ready lost 2-15/16 to 9.
AppNet Inc. (APNT) gained 16 percent after the e-commerce services provider said it teamed up with MCI WorldCom Inc. (WCOM) to market systems to operate businesses over a high-speed Internet connection.
Bethesda, Md.-based AppNet rose 6 to 51.
Learn2.com (LTWO) gained 24 percent after the online educator said Yahoo! (YHOO) picked it as "as one of the most intriguing sites in the history of the Web.”
White Plains, N.Y.-based Learn2.com jumped 7/8 to 4-5/16.
But Genesis Microchip Inc. (GNSS) lost 23 percent after the circuits maker said it expects flat earnings in its fiscal third quarter, compared with a profit of 20 cents per share in the previous quarter.
Canada-based Genesis fell 5 to 17-3/16. 
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