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CNNfn market movers
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June 16, 1999: 11:27 a.m. ET
Technology, drug companies enjoy Wall St. ride; Oneida regains shine
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NEW YORK (CNNfn) - Wall Street renewed its vows to battered technology and drug companies Wednesday and hoisted large brokerage houses for the second straight day.
Oracle Corp.'s (ORCL) stock was promptly rewarded for besting Wall Street's fourth-quarter earnings estimates and announcing plans to cut $1 billion in spending. The software company's stock was up 7 to 32-1/8 in heavy trading.
Theglobe.com (TGLO) also had investors buzzing about its shares -- which rose 1, or nearly 8 percent, to 13-3/4 after sealing a deal with HotJobs.com to significantly expand the employment section on its Web site.
Jabil Circuit (JBL) rebounded somewhat, a day after a more than 12 point due to its projection that fiscal fourth-quarter earnings as much as 10 percent below expectations. The circuit board assembly manufacturer was up 6-1/2 to 48.
In the drug arena, Pfizer Inc. (PFE) achieved an early high of 100, up 2-7/16, after it agreed to extend the co-promotion of the cholesterol-lowering Lipitor drug with Warner-Lambert Co. (WLA).
Outside the technology arena, Oneida Ltd.'s stock regained some of its luster after the world's largest maker of steel and silverplated flatware received yet another unsolicited takeover offer from Libbey Inc.
The offer, a 25 percent increase beyond Libbey's previous attempt, lifted shares of Oneida (OCQ) by 6 to 31-1/2 while Libbey's (LBY) stock slipped 1/8 to 33-9/16.
Meanwhile, New York's top brokerage houses continued to surge as investors expressed renewed interest in their shares. Among the day's early leaders included Merrill Lynch (MER), up 4 to 71-9/16, and Lehman Brothers Holdings (LEH), up 2 to 55-1/4. 
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