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CNNfn market movers
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March 3, 1999: 2:10 p.m. ET
Staffmark confession hurts and e-brokers retreat, but Alpha Industries triumphs
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NEW YORK (CNNfn) - In its insatiable hunger for tighter profits, Wall Street looked to the future Wednesday, singling out companies hinting at the shape of earnings to come for rewards or, if the omens were gloomy, punishments.
Online computer store Cyberian Outpost (COOL) found investors applauding its advance announcement of leaping revenue in the current quarter, pushing shares up 4-11/16 to 20-13/16.
Similarly optimistic forecasts boosted Alpha Industries (AHAA) shares 4-1/8 to 18-3/8. The wireless communications company reassured investors overnight that fiscal fourth-quarter earnings will match expectations.
Electronics manufacturer Burr-Brown (BBRC) climbed 1-11/16 to 20-9/16 as Wall Street flocked to the stock's fresh "outperform" recommendation from Morgan Stanley Dean Witter, which had previously rated the stock "neutral."
Shares of Concentra Managed Care (CCMC) jumped 2-15/16 to 14-9/16 after agreeing to a $1.1 billion buyout offer from privately-held investors Welsh, Carson, Anderson & Stowe.
Telecom service provider Architel Systems (ASYCF) also saw the bright side of merger activity, climbing 4-3/32 to 19-3/4 after agreeing to join up with fellow telecom servicer Amdocs (DOX) for $400 million in stock. Amdocs shares, however, were among the day's losers, sliding 3-1/2 to 22-5/16.
Money online
Shares of online brokers reeled, spinning on speculation that PaineWebber 's (PWJ) stake in Internet financial data provider Kingland Cos. Ltd. could herald the massive brokerage's arrival in the Web trading field.
E*Trade (EGRP) sank 1-1/8 to 46-5/8, retreating from the hint of renewed competition. Ameritrade (AMTD), however, crept up 1/8 to 46-3/4 on the strength of encouraging words from Credit Suisse First Boston analyst Bill Burnham, who raised his earnings forecasts for both companies, praising higher-than-expected trading volumes.
Less well-known Web brokers also tumbled, with J.B. Oxford Holdings (JBOH) sliding 7/16 to 8-25/32. Siebert Financial (SIEB) lost 2-3/4 to 23-1/4 and M.H. Meyerson (MHMY) fell 1/8 to 5-3/8, while National Discount Brokers (NDB) shed 3/8 to 24-1/4.
Giant online broker Charles Schwab (SCH) joined the general trader retreat, giving up early gains to slip 1/16 to 73-5/8. Merrill Lynch (MER), which has only recently entered the Internet trading game, was up a scant 1/8 at 78-3/8.
Sins against capitalism
Staffmark (STAF) shares tumbled 3-13/16 to 8-5/8, falling in investor-imposed penance for the personnel company's confession of weak first-quarter profits ahead. The stock also incurred the wrath of analysts, with no less than five downgrading their previously bullish ratings.
Wall Street also chastised networker Microtest (MTST) for coming up short, knocking shares down 5/8 to 2-3/8 after the company reported a fourth-quarter loss of 12 cents per share while analysts had expected a 6 cent per-share loss.
Classroom builder Modtech Holdings (MODTD) plunged 4-15/16 to 9-1/2 on similarly disappointing earnings in a "difficult" quarter. The company had previously warned investors that orders had slowed due to tardy passage of the California state budget, which in turn delayed allocation of about $25 million in funds.
Shares of filtration firm Pall (PLL) fell 4-13/16 to 16-1/2 after a fiscal second quarter that saw "pressure on gross margins (reduce) earnings to well below acceptable levels." Profits were only 15 cents per share, falling short of the 19 cents that analysts had predicted.
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Shareholders also cast a stern eye on software maker Intuit (INTU), knocking shares 4-9/16 to 86 after the company, a marketing partner of this Web site, bought closely-held Computing Research for $200 million. 
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