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CNNfn market movers
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July 10, 1998: 2:36 p.m. ET
Quiet Wall Street focuses attention on earnings-related news on Friday
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NEW YORK (CNNfn) - An otherwise quiet day on Wall Street got a few highlights from earnings-related news that put the stocks of several companies on the list of market movers Friday.
UniComp (UCMP) rose 2, or nearly 70 percent, to 4-7/8 after it signed a contract to license a new software product to a logistics provider working for McDonald's in Europe.
Stratasys (SSYS) gained 1-5/16 to 8-3/8 after the board of directors at the prototyping systems maker authorized a share buyback of up to 300,000 shares of the company's 6.1 million common shares outstanding.
Online computer vendor Egghead.com shares (EGGS) were up 4-1/6 to 21-1/16 in heavy trading -- about 13 million shares -- even though there was little major news other than the strong gains among Internet-related stocks this week.
Arcadia Investment Corp. also reiterated its "buy" rating to institutional investors Thursday, a company executive said, while Riley Capital Research began coverage with a "strong buy."
Skyline Multimedia Entertainment (SKYL) shares were off 1-7/8 to 1 after the flight simulator operator reported a net loss of 44 cents per share in its fiscal third quarter.
Sirrom Capital (SIR) plunged 9-3/8, or more than 36 percent, to 16-1/16 after the investment company, which focuses on lending to small businesses, said its second quarter results will include a loss on investment income of $6 million due to unrecoverable loans.
Grupo Radio Centro (RC) rose 1-5/8 to 12-1/16 after radio powerhouse Chancellor Media (AMFM) said it will buy a 50 percent stake in the Mexican broadcaster for about $237 million.
Sonic Automotive (SAH) rose 1 to 20-1/2 after the auto dealership chain said Thursday it will buy three dealerships in the Southeast that had combined revenues of $220 million last year.
Fastenal (FAST) sank fast Friday, losing 5-7/8 to 45-3/8 after the distributor of fasteners and other industrial supplies said its could lose half a million dollars a month due to the GM strike. That would compound problems due to a price slump amid Asia's economic crisis.
PetsMart (PETM) was off 7/8 to 9-3/16 in heavy trading after the big-box pet store retail chain announced it will just break even or earn a meager profit in its fiscal second quarter due to severance costs and lawsuit-settlement charges.
Dallas Semiconductor (DS) gained 3-5/16 to 33-15/16 after the chip maker beat analyst expectations by reporting a profit of 47 cents per share in the second quarter.
Santa Cruz Operation (SCOC) shares slumped 1-1/4 to 3-5/8 after the computer systems maker said it expects to lose up to 59 cents a share in its fiscal third quarter due to inventory reductions.
Eltron International (ELTN) climbed 2-7/8 to 33-3/8 after rival Zebra Technologies (ZBRA) said Thursday it will merge with the printer maker in a pooling of interests deal that values Eltron at about $36 per share.
WavePhore (WAVO) jumped 2-3/16 to 13-1/8 after Business Week reported one analyst expects Microsoft (MSFT) to increase its stake in the provider of wireless and Internet data broadcasting systems and services.
Adams Golf (ADGO) rose 2-9/16 to 18-9/16 following the golf club maker's debut on Wall Street through an initial public offering on Friday.
Health Plan Services (HPS) fell 1-1/2 to 16-7/16 after the provider of administrative and marketing services for insurers said it would unveil a restructuring plan in the next several weeks.
Vivus (VVUS) lost 1-7/32 to 6-1/2 after the impotence therapy provider reported a dip in second-quarter profit, citing competition from Viagra, the highly-touted impotence drug from Pfizer (PFE), whose income soared last quarter due to the new drug.
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