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CNNfn market movers
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December 7, 1998: 2:33 p.m. ET
ThrustMaster is talked up, EarthWeb skies again, Oxford recuperates
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NEW YORK (CNNfn) - The Internet sector was the locale for yet more explosive gains, while one ailing hospital chain appeared to get back on its feet and on to the Monday list of market movers.
The latest Internet play was ThrustMaster (TMSR), up 4-13/16 to 9-11/6 after releasing its Talk n' Play software, which enables up to four people to talk over the Internet while playing online computer games.
Slipping again after Friday's 9-point plunge was Creative Computers (MALL) off 3-5/16 to 22-15/16, or 12 percent, after the direct PC vendor's uBid unit (UBID), an online auctioneer, went public Friday.
Shares of uBid also cooled off after their blistering upward ride Friday, shedding 4-3/4 to 43-1/4, or 10 percent.
Recent initial public offering EarthWeb (EWBX) got a vote of confidence that the stock isn't just a fly-by-night web phenomenon, after brokerages Bear Stearns, Volpe Brown and J.P. Morgan opened coverage on the online data services company with "attractive" and 'buy" ratings.
Its shares soared 16-15/16 to 49-15/16, or 51 percent.
Elsewhere in the Web world, MySoftware (MYSW) surged 2-21/32, or 27 percent, to 12-7/16, after the small-business software firm unveiled an online service that helps users find prospective customers.
Recently embattled hospital chain Oxford Health Plans (OXHP) revived up 2-7/8 to 14-9/16, or 25 percent, after Lehman Brothers upgraded the stock to a "buy" from "neutral" and set a 12-month price target of $22 a share.
Donaldson, Lufkin & Jenrette upgraded the stock to a "buy" from "market perform."
Getting burned was Littelfuse (LFUS), dropping 5-1/2 to 19-1/2 after the not-so-little fuse maker said fourth-quarter earnings would fall 35 to 40 percent under third-quarter levels due in part to weakness in Japan and North America.
And on the buyout front, Interlake (IK) exploded up 3-7/16 to 6-15/16, or more than 98 percent, after the British engineering group GKN agreed to buy the maker of auto and aerospace components for $553 million in cash and debt.
FDX, the parent of Federal Express (FDX), climbed 7-11/16 to 74-15/16, or 11 percent, after a weekend report in Barron's suggested that the overnight delivery giant should also be seen as an 'Net company - because it ships goods ordered online to customers.
As such, the article said, the company is undervalued compared to other 'Net players - many of which have astronomical valuations.
Also getting a boost: FedEx rival Airborne Freight (ABF), climbing 1-3/4 to 30-5/8.
And in biotechnology, Fusion Medical Technologies (FSON) rocketed up 2-9/32 to 9-9/32 after the maker of wound-closure products said clinical trials of a new blood-sealant product stopped bleeding within 10 minutes in 96 percent of cases.
Telecommunications-hardware maker Tellabs (TLAB) rose 3-1/2 to 63-5/8 after the company's chief technology officer expressed a bullish outlook during a Lehman Brothers conference Friday.
(And for a complete wrap-up of the day's market action and a look at movement among other movers, click here.)
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