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CNNfn market movers
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April 15, 1999: 2:51 p.m. ET
Only a few technology and brokerage firms find favor among fickle investors
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NEW YORK (CNNfn) - Fickle investors hunted for bargains on an otherwise expensive menu of stocks Thursday, passing up such typically tasty offerings as Hershey Foods and Storage Technology for an array of technology and manufacturing firms.
Headlining the day's gainers was Friedman, Billings, Ramsey Group (FBG), a slimmed-down version of its larger brokerage counterparts, but a hot commodity early Thursday afternoon nonetheless.
The Arlington, Va.-based brokerage was up nearly 50 percent, or 4-9/16 to 14-3/8 after announcing it would launch a long-rumored Internet trading site.
Quest Net Corp. (QNET) was one of the few Internet-related firms to also wet investors' appetite, climbing 2-7/8 to 12-1/2 after the Internet service provider said its third quarter earnings will exceed the previous quarter's.
Toy makers Mattel Inc. and Hasbro remained in high demand after being listed among the morning specials. Mattel (MAT) rose 4-1/8 to 30-1/16 after announcing a $50 million Internet venture and plans to reduce its workforce by 3,000.
And, Hasbro (HAS), the world's second-largest toy maker, climbed 3-9/16 to 33-11/16 after announcing first-quarter earnings 2 cents above analysts' expectations.
Other firms rewarded for smothering Wall Street projections included Electronics for Imaging (IFII), up 5-7/8 to 47, and American Management Systems (AMSY), which rose 3-1/16 to 29.
Boeing (BA) maintained its morning altitude after soaring by analysts' earnings projections, climbing 4 to 42 in afternoon trading. And, eyewear maker Bausch & Lomb (BOL) wasn't far behind, climbing 2-5/8 to 76-3/16 on word it had beaten analysts' projections by 4 cents.
But investors largely turned their nose up at a number of seemingly popular offerings. Even the normally sweet Hershey Foods Corp. (HSY) couldn't entice many buyers after announcing it would likely fall about 3 cents below Wall Street's 45 cents a share expectations for last quarter.
That left the Hershey, Pa.-based company's stock with a bit of a sour taste, falling 3 /4 to 50-11/16.
Hudson Hotels Corp. (HUDS) drove a few customers away after announcing it had retained an investment firm to help it explore its strategic options. That left the company's stock down 1/2 to 7/8.
Investors also contemplated pulling out of several storage companies after Storage Technology Corp. (STK) said slower sales could leave its first-quarter earnings up to 10 cents below expectations.
That dropped the company's stock 7-1/16 to 19, and dragged several others down with it, including EMC Corp. (EMC), which fell 12-13/16 to 112-1/2 despite announcing it believes storage spending would remain strong throughout the year.
Investors had also clearly lost their appetite for several on-line financial firms, which had enjoyed a spectacular run-up earlier in the week.
Down Thursday was Ameritrade (AMTD), dropping 16-1/8 to 131-7/8 despite having posted earnings well above Wall Street's projections Wednesday, and E*Trade (EGRP), down 8-3/4 to 94-3/4.
Investors weren't much kinder to two firms that either missed analysts' expectations, or were expected to do so.
Technology consulting company Meta Group (METG) was down 4-3/8, or more than 33 percent, to 9-1/8 on word it will earn up to 9 cents below Wall Street's estimate of 19 cents a share. Likewise, Gibson Greeting (GIBG) fell 38 percent, or 3-15/16, to 6-1/8 on news the greeting card firm will lose up to 25 cents during its fiscal first quarter. 
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