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Tuesday’s after-hours trading
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January 4, 2000: 8:43 p.m. ET
Ariad Pharmaceuticals sells stake, leads the charge after hours
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NEW YORK (CNNfn) - After-hours traders stuck with the smaller stocks after the big sell-off Tuesday, with Ariad Pharmaceuticals Inc. enjoying extremely high volume on Island ECN’s late session.
Ariad (ARIA) announced after market close that it is selling its 50 percent stake in Hoechst-ARIAD Genomics Center, LLC to Aventis Pharmaceuticals for $40 million plus some stock and relief of debt.
The company said in a press release that the move enables it to concentrate on the near-term goal of bringing out one of their proprietary osteoperosis drugs. Shares of Ariad jumped 2-1/2 to 5-1/2 on Island with 2,553,939 shares changing hands.
Island’s second most-active stock was Tops Appliance City Inc., which rose 1/32 to 25/32.
No news was released by Tops (TOPS), but financial message boards contained rumors of a possible takeover.
Powercerv Corp. shares jumped on after-the-bell news that its ERP Plus software suite would support the Linux operating system.
Powercerv stock rose 5-1/4 to 11, with more than 206,000 shares traded.
Production company Kushner-Locke was the most actively traded stock on MarketXT after it announced in a press release it was hiring Prudential Securities to, "advise it on financial options including possible consolidations, acquisitions or partnerships.”
Shares of Kushner-Locke (KLOC) rose 2-1/16 to 8 on MarketXT’s after-hours session.
The company’s stock benefited in late December after it reported better-than-expected results for fiscal 1999.
 
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Island ECN
MarketXT
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