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Hot stocks: Boston beaned
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February 7, 2001: 4:45 p.m. ET
Prepaid wireless provider takes hit on warnings while Fleming soars
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NEW YORK (CNNfn) - Boston Communications tumbled 42 percent after the prepaid wireless service provider said this year's earnings will fall short of forecasts. But shares of Fleming soared 43 percent after the company struck a $4.5 billion deal to supply Kmart with food and consumer products.
Wednesday's losers
Boston Communications Group (BCGI: Research, Estimates) down $6.24 to $8.63. The prepaid wireless service provider late Tuesday posted a fourth-quarter profit that beat estimates, but gave 2001 guidance that fell short of Wall Street's expectations.
Cisco Systems (CSCO: Research, Estimates) down $4.69 to $31.06. The network equipment maker, a technology bellwether, reported fiscal second-quarter earnings late Tuesday that stunned Wall Street by missing estimates. More than 280 million shares changed, becoming the most traded stock in a single day. The record of 308 million was set by Intel last Sept. 22.
Juniper Networks (JNPR: Research, Estimates) down $7.91 to $94.38, Ciena (CIEN: Research, Estimates) down $1.13 to $81.88, Redback Networks (RBAK: Research, Estimates) down $1.13 to $41.56, Sycamore Networks (SCMR: Research, Estimates) down $3.31 to $23.69. Other networking companies and network equipment makers fell on Cisco's news.
CNET Networks (CNET: Research, Estimates) down 94 cents to $14.94. The company became the latest Internet media company to warn of slowing business when it reported fourth-quarter earnings that just met Wall Street forecasts, but said results this year would fall short.
MicroStrategy (MSTR: Research, Estimates) down $3.56 to $13.38. The e-business software and service provider late Tuesday reported a fourth-quarter operating loss that was smaller than anticipated, but nearly twice as large as a year earlier.
Nanophase Technologies (NANX: Research, Estimates) down $2.56 to $9.56. The maker of nanocrystalline materials for a variety of industrial applications late Tuesday said it expects first-quarter revenue to be below expectations, as unexpected volume declines hurt results.
Korn/Ferry International (KFY: Research, Estimates) down $1.62 to $16.53. The executive search firm said late Tuesday it was lowering its earnings and revenue forecasts for its fiscal year 2001 and said it will cut about 10 percent of its work force in a cost-saving move.
Bell Microproducts (BELM: Research, Estimates) down $5.25 to $16. The company, which distributes semiconductor and computer products mainly to computer makers and resellers, reported fourth-quarter earnings that met Wall Street estimates. The company said it expects its expenses to increase due to several investments
Hughes Electronics (GMH: Research, Estimates) down $2.96 to $24.75. Media conglomerate News Corp. (NWS: Research, Estimates) plans to buy the DirecTV satellite television business from Hughes, a General Motors (GM: Research, Estimates) unit, to create a $70 billion satellite company, according to the Financial Times.
Entravision Communications (EVC: Research, Estimates) down $4.90 to $11.60. Merrill Lynch downgraded the Spanish-language media company to "near-term neutral" from "near-term accumulate."
Applied Micro Circuits (AMCC: Research, Estimates) down $5.25 to $49.81. The semiconductor company continued to fall after warning Tuesday that it had experienced some recent order cancellations.
Wednesday's winners
Fleming (FLM: Research, Estimates) up $7.62 to $24.40. The nation's second-largest food wholesaler will become the sole supplier of food and consumable products to Kmart's more than 2,100 stores and supercenters. The companies said the deal is worth $4.5 billion.
PacifiCare Health Systems (PHSY: Research, Estimates) up $8.75 to $33.50. The managed-care firm reported fourth-quarter earnings late Tuesday that trumped Wall Street estimates.
Serena Software (SRNA: Research, Estimates) up $2.19 to $26.69. The business management software maker bounced back after falling Tuesday on news it expected to report fourth-quarter revenue below analyst expectations.
-- compiled from staff and wire reports 
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