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CNNfn market movers
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November 19, 1998: 2:26 p.m. ET
Investors say "no thanks" to Danka, Bluefly takes wing, MCI dials gains
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NEW YORK (CNNfn) - A dark cloud hanging over an already-troubled office supply company sent the company's stock careening onto Thursday's list of market movers, while shares of another Internet-related company took off.
U.S. shares of Danka Business Systems (DANKY), plummeted 1-7/16 to 2-7/16, or 37 percent, in very heavy trading. The Anglo-American office supply company said in a Securities and Exchange Commission filing recent "profitability shortfalls" had forced it to restructure key credit agreements.
Danka said it may seek bankruptcy protection.
BlueFly (BFLY) rose 5-1/8 to 13 after announcing a "strategic alliance" with Web search engine provider Lycos (LCOS) that the online apparel vendor hopes will boost its recognition in the holiday shopping season.
Lycos rose 2-1/8 to 66-1/2.
DSP Communications (DSP) gained 2-1/8 to 13-1/16. NationsBanc Montgomery Securities upgraded to "buy" from "hold" and set a near-term price target of $15 a share on the stock.
Elsewhere in the Net sector, Amazon.com (AMZN), fresh off an announcement early this week it will expand its online shopping options beyond books and music to include videos and gifts, rose 5-1/4 to 169-1/4.
Separately, the bellwether Internet vendor said late Wednesday it would sell its Junglee Employment Services unit to Restrac (RTRK) -- a maker of software to help companies find prospective employees -- for about $15 million in cash and stock, based on the Wednesday closing price of Restrac stock.
Restrac rose 2 to 7-3/8 Thursday.
Reversing losses after blockbuster IPOs last week were EarthWeb, (EWBX), the provider of technical information online, rising 8-7/16 to 47-9/16, and Web page designer theglobe.com (TGLO), gaining 13-1/8 to 45-3/16.
Etec Systems (ETEC) shed 2-1/2 to 28-1/2 after the maker of computer chip-patterning equipment said fewer orders from customers in several Asian countries will lead to a drop in earnings of as much as 40 percent in its 1999 fiscal year.
CIBC Oppenheimer downgraded the stock, while Lehman Brothers cut its profit estimate on Etec Thursday.
MCI WorldCom (WCOM) gained 2-15/16 to 58-14 after the long-distance company late Wednesday unveiled a new service, starting early next year, that will offer faster Internet access over standard phone lines to online service providers and smaller businesses.
Time Warner (TWX), parent of CNN and CNNfn, surged 4-15/16 to 103-13/16 after the media company announced a two-for-one stock split, citing an improving balance sheet. 
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