|
CNNfn market movers
|
 |
December 2, 1998: 11:27 a.m. ET
dELia*s soars amid Internet plan, while Wavephore, GLC ease back from gains
|
NEW YORK (CNNfn) - A pair of blockbuster gains Tuesday gave way to a dose of investor reticence Wednesday, while a clothing vendor outlined its Internet strategy and blasted up on the day's list of hot stocks.
Hitching a ride on the e-commerce bug, dELiA*s (DLIA) skyrocketed up 5-1/16 to 13-7/8, after the direct-mail vendor of causal clothes said it would boost its online presence.
Big Tuesday gainer WavePhore (WAVO) came back to Earth, shedding 3-1/2 to 11-3/4, or 23 percent, in heavy trading after the Internet broadcasting technology developer gained 7-1/2 Tuesday in the wake of unveiling a new online shopping mall.
Also drifting back from Monday gains was GLC Ltd. (GLCCF), off 6-3/16 to 18-13/16 a day after rocketing 16-35/64 in the wake of an announcement by its GalaxiWorld Ltd. unit it has opened an "advanced" online casino.
Dow issue Sears, Roebuck (S) sank 2-9/16 to 42 after the department-store giant reported Wednesday that November same store sales - or those in stores open at least a year - fell 3.6 percent.
Sears also said it expects full-year earnings to rise at a low single-digit percentage rate.
Comverse Technology (CMVT) leapt 4-5/8 to 62-5/8 after the voice-mail service provider late Tuesday reported third-quarter earnings of 62-cents a share, a nickel better than analysts' expectations, according to earnings tracker First Call.
Piper Jaffray, BankBoston Robertson Stephens and Lehman Brothers all raised their 1999 earnings per share targets on Comverse.
D&N Financial (DNFC) rose 3 to 25-7/8 after the bank holding company late Tuesday unveiled a merger with fellow Michigan bank Republic Bancorp (RBNC) in a deal worth $286 million. Republic fell 1-3/4 to 14-7/8. 
|
|
|
|
|
 |
|
