NEW YORK (CNNfn) - British Telecommunications climbed up over 16 percent on speculation that it might sell some of its assets to revive its share price.
Global Crossing, one of the largest long-distance phone companies, saw a fleeting rise in its share price this morning but in afternoon trading, shares took a turn for the worse.
Consolidated Papers' stock soared over 36 percent after Finnish/Swedish forest industry company Stora Enso agreed to buy the giant paper company for $4.8 billion.
But shares of Aurora Foods, maker of such brands as Duncan Hines and Aunt Jemima, plummeted after an investigation into its accounting practices prompted several executive resignations.
Today's Winners
Northstar Computer Forms Inc. (NSCF: Research, Estimates) up 4-5/16 to 13-7/8.
Ennis Business Forms, Inc. and Northstar Computer Forms, Inc. announced a definitive agreement for EBF to acquire all of the stock of NSCF for approximately $42 million in cash, or $14.00 per share.
Ascent Entertainment Group Inc. (GOAL: Research, Estimates) up 4-11/16 to 14-13/16.
Liberty Media Corp., the cable television programming arm of AT&T Corp., on Tuesday agreed to buy Ascent Entertainment Group Inc. for $460 million cash, nearly three months after their original deal broke down when Ascent could not sell its sports-related business as planned.
British Telecommunications (BTY: Research, Estimates) up 24-5/8 to 177-1/8.
British Telecommunications was up more than 16 percent, on speculation that it is planning to sell some of its assets in a bid to revive its ailing share price. The London Times among other publications Monday reported BT was looking to sell part of its Cellnet mobile phone business.
Snyder Communications Inc. (SNC: Research, Estimates) up 3 to 23-1/2.
Snyder and Havas Advertising announced a definitive merger agreement under which Havas will acquire SNC in a stock transaction valued at U.S. $29.50 per SNC share, or a total of about U.S. $2.1 billion.
Consolidated Papers (CDP: Research, Estimates) up 9-7/16 to 35-7/16.
Finland-based forest industry company Stora Enso has agreed to buy Consolidated Papers for about $4.8 billion to form the largest producer of paper and board by capacity worldwide. The deal values Consolidated at about $44 per share, which represents about a 70 percent premium based on its closing price of $26 Friday. The purchase will give Stora Enso a strong foothold in the North American market.
Nexell Therapeutics Inc. (NEXL: Research, Estimates) up 1-7/16 to 7.
The company, one of the world's leading suppliers of therapeutic and diagnostic products based on stem cell technology, said Tuesday it has launched a new line of cell expansion bags.
Sterling Commerce Inc. (SE: Research, Estimates) up 12 to 43-9/16.
SBC Communications Inc., the biggest local U.S. phone company, said Tuesday it will buy software company Sterling Commerce Inc. for $3.9 billion in cash, in a move to boost SBC's presence in the hot business-to-business electronic commerce market.
Snyder Communications Inc. (SNC: Research, Estimates) up 2-7/8 to 23-3/8.
Snyder and Havas Advertising announced a definitive merger agreement, under which Havas will acquire SNC for stock valued at $29.50 per SNC share, or a total of about $2.1 billion.
CryoLife Inc. (CRY: Research, Estimates) up 1-1/2 to 19-1/8.
The leader in the development and commercialization of living human tissue devices and manufacturer and distributor of stentless heart valves and surgical adhesives, said Tuesday it has received approval from the Institutional Review Boards (IRB) at 83 hospitals in the United States for the use of BioGlue surgical adhesive in acute thoracic aortic dissections.
Today's Losers
Global Crossing Ltd. (GBLX: Research, Estimates) down 4-3/4 to 47-5/8.
Global Crossing, the fifth-largest U.S. long-distance phone company said Tuesday it is acquiring communications provider IXnet Inc. and its parent company, IPC Communications Inc., for stock valued at $3.8 billion.
Cinar Corp. (CINR: Research, Estimates) down 7-1/16 to 17-9/16.
The company said Tuesday it is acquiring Twin Sisters Productions Inc., a U.S. children's educational record label and publisher, for $9 million cash, plus additional potential sums based on performance objectives over the next four years.
Aurora Foods Inc. (AOR: Research, Estimates) down 3-13/16 to 3-1/2.
An investigation into accounting practices at the producer of such brands as Duncan Hines and Aunt Jemima has prompted the resignations of the firm's chairman and three other top executives. The firm disclosed that the investigation could wipe out its 1999 profit.
InfoCure Corp. (INCX: Research, Estimates) down 5-5/8 to 16-3/4.
Infocure, a provider of software to help doctors manage their practices, today said it plans to form a dental software and service unit and conduct an initial public offering of the unit's common stock. 
-- compiled by Staff Writer Lucy Banduci and wire reports
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