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CNNfn market movers
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November 11, 1998: 11:22 a.m. ET
An IPO bonanza shoots EarthWeb skyward, lets MONY investors cash in
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NEW YORK (CNNfn) - Any naysayers about the prospects for initial public offerings were muzzled Wednesday, as two new issues cemented a place on the day's market movers list.
EarthWeb (EWBX) shot up to 55-1/4 in yet another blockbuster Internet-related initial public offering. The company, which provides technical information via the Web, priced 2.1 million shares at $14 each.
Mutual Life Insurance Company of New York, a.k.a. MONY (MNY), rocketed to 28-5/16 after the company, which recently voted to scrap its status as a mutual, sold roughly 13 million shares at $23.50 each.
Underwriter Goldman Sachs had planned to bring the MONY Group public between $18.50 and $21.50 a share.
And Fox Entertainment Group (FOX) climbed to 24-7/8. The division of Rupert Murdoch's News Corp. was priced at $22.50 a share.
Abercrombie & Fitch (ANF) sewed up a solid quarter, beating analysts' estimates with profit of 47 cents per share in its third quarter. The haberdasher's stock rose 1-3/8 to 49-7/8.
Elsewhere in the retailing business, Federated Department Stores (FD) climbed 1-5/16 to 39-3/8 even though the parent of Macy's and Bloomingdale's reported a third quarter profit of 40 cents per share, including a one-time charge, compared with analysts' estimate of 49 cents, as reported by First Call.
North Carolina Natural Gas (NCG) got an electric jolt, surging 8-7/16 to 32-1/16 after neighboring utility Carolina Power & Light (CPL) agreed to buy the gas provider for $354 million in stock.
Carolina Power fell 1-5/8 to 45-15/16. 
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