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CNNfn market movers
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December 28, 1998: 3:14 p.m. ET
Active Apparel and Charles Schwab stocks surge, while Ziff-Davis drops
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NEW YORK (CNNfn) - Shares of Active Apparel Group Inc. rocketed 855 percent Monday afternoon after the sportswear maker launched a new Web site, a clear sign that Wall Street's obsession with anything Internet-related is far from over.
Shares of the company (AAGP) surged 10-11/16 to 11-15/16 on the Nasdaq after the maker of Everlast-brand activewear said it will begin promoting its products online.
"We have a fairly aggressive schedule for introducing products via our new site," said company chairman and chief executive George Horowitz. "Initially we will focus on utilizing the site to promote our Everlast women's activewear line."
At the same time, Charles Schwab (SCH) shares were up 6-1/2, around 11 percent, at 66-7/8 on the New York Stock Exchange.
Analysts attribute the run-up in the brokerage firm's stock price to E*Trade Group Inc.'s announcement earlier Monday that it recruited some 500,000 registered members since the September launch of its program to offer financial services information to non-customers. Investors are hoping Schwab's online financial services product generates the same attention.
Falling behind
Among declining issues were shares of printing and publishing giant Ziff-Davis (ZD), which suffered nearly a 12 percent drop after an analyst slashed his rating on the company to "neutral" from "outperform."
Morgan Stanley Dean Witter analyst Doug Arthur said the downgrade was driven by the recent run-up in Ziff-Davis' stock price.
Ziff-Davis shares were off 2-7/16 at 18-5/16 on the New York Stock Exchange.
Shares of KN Energy Inc. (KNE) in Lakewood, Colo. also took a tumble after the natural gas company issued a profit warning, blaming warmer weather, lower transportation revenues and falling natural gas processing margins for its anticipated 1998 earnings shortfall.
The company said earnings per share could be as much as 30 percent below its year-ago results of $2.45. Analysts expected the company to post profits of $2.61 per share.
Shares of the company slipped 2-1/4, or about 6 percent, to 36-1/16 following the news.
Investors took some of the wind out of Multiple Zones International Inc.'s (MZON) sails, despite the recent stock rally of online auctioneers like eBay Inc.(EBAY).
Shares of the computer products marketer tumbled 5, or 17 percent, to 24-1/2 on the Nasdaq, an apparent sign that investors believe the company's stock had risen too high.
Multiple Zones International's stock nearly quadrupled last week after it launched a new Web auction site. 
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