NEW YORK (CNNfn) - A large product order from the creator of PalmPilots sent stock in a maker of network management devices soaring Monday while a technological development lifted a biotechnology company's stock. Gold stocks, meanwhile, jumped following a sudden surge in the metal's price.
In the early session's highest flyer, TCSI Corp (TCSI: Research, Estimates) rose 154 percent after saying it will supply 3Com Corp. (COMS: Research, Estimates) with its network management services.
Specific terms of the "multi-million dollar," four-year agreement were not disclosed.
Alameda, Calif.-based TCSI rose 4-5/8 to 7-3/4. 3Com, the maker of PalmPilots, jumped 3/4,or 1 percent, to 56-1/2.
Energy BioSystems Corp. (ENBC: Research, Estimates) gained 144 percent after the biotechnology firm said it has completed the demonstration of a new gene-shuffling technology.
Frenzy over gene mapping is nothing new, as investors clamor for latest medical developments.
The trend continued Monday, with stock in The Woodlands, Texas-based Energy BioSystems rising 6-1/2 to 11.
Gold stocks jumped after the surge in the price of gold sparked optimism for higher profits.
Gold Standard (GSTD: Research, Estimates) jumped 1-9/16, or 109 percent, to 3. Kinross Gold Corp (KGC: Research, Estimates) gained 1/4, or 10 percent, to 2-1/8. Meridian Gold Inc. (MDG: Research, Estimates) rose 7/8, or 14 percent, to 7-1/8.
But PharmaPrint Inc. (PPRT: Research, Estimates) fell 27 percent after saying it was served with a class action complaint for violations of federal securities laws. The suit involves allegations of false and misleading statements concerning company finances.
PharmaPrint, which makes dietary supplements, called the complaint merit-less.
Irvine, Calif.-based PharmaPrint fell 23/32 to 1-31/32.
Metrocall Inc. (MCLL: Research, Estimates) continued its wining run.
The stock began gaining Thursday when the wireless data and messaging provider said PSINet Inc. (PSIX: Research, Estimates), an Internet service provider, and Hicks Muse Tate & Furst, the investment firm, made a $51 million investment in Metrocall.
In addition, Metrocall said it bought NationPage, a regional paging and wireless messaging provider, from AT&T (T: Research, Estimates) for $13 million cash.
Alexandria, Va.-based Metrocall rose 1-3/4, or 15 percent, to 13-3/8. AT&T gained 3/16 to 50-13/16 Monday.
Pentech International (PNTK: Research, Estimates), a maker of pens and pencils, doubled after saying it entered a partnership with a manufacturer in Shanghai, China, that will allow it to enter that fast-growing market.
Edison, N.J.-based Pentech gained 7/8 to 1-3/4. 
|
