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CNNfn market movers
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November 17, 1998: 11:31 a.m. ET
DepoTech rallies, Sangstat bloodied, while Amazon.com a Wall St. page-turner
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NEW YORK (CNNfn) - With potential cancer cures capturing interest on Wall Street in recent months, the latest would-be miracle worker was vaulting to the day's list of hot stocks.
DepoTech (DEPO) soared 1-5/16 to 3-5/16 after a U.S. Food and Drug Administration panel on Monday approved its DepoCyt treatment for a rare form of cancer, lymphomatous meningitis.
Eastern Environmental (EESI) plunged 5-9/16 to 22-7/8 after the Justice Department said it would try to block the garbage hauler's planned $1.8 billion merger with larger rival Waste Management (WMI) on antitrust concerns.
Eastern Environmental said it remains optimistic that the merger can be completed, adding that it has "tentative" accords for many of the conflicts, and others can be resolved.
Also hemorrhaging was Sangstat Medical (SANG) falling 6-9/16 to 20-15/16 after the maker of therapeutic and monitoring products for organ transplants posted a 64-cent loss on Monday, 2 cents more than analysts had expected.
PeopleSoft (PSFT) fell 3/4 to 19-3/4 after the enterprise software maker said it plans to spin off its research and development unit - to be named Momentum Business Applications - as a dividend to shareholders.
PeopleSoft said it would back the company with $300 million.
Softer Internet stocks, save one
While most of the Internet sector stocks headed lower, bellwether online bookseller Amazon.com (AMZN) gained 5-14/ to 131-1/2 after saying Tuesday it will starting selling personal electronics, games, gadgets, and toys for all ages on its web site in the holiday season.
Again among the losers were two of last week's stellar initial public offerings: technical resources provider EarthWeb (EWBX) off 9-5/16 to 52-15/16 and web page provider theglobe.com (TGLO), off 8 to 40-3/4. 
-- by staff writer Jamey Keaten
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