NEW YORK (CNNfn) - Wednesday's significant deals -- the outsourcing agreement between Motorola and Flextronics, and Lucent Technologies' acquisition of Chromatis -- influenced the most active lists of the major exchanges.|
Two other key movers were Internet companies Fatbrain.com, whose revenue is projected to exceed expectations, and Hotjobs.com, which was upgraded.
Here are some of the biggest market movers in Wednesday trading:
Fatbrain.com (FATB: Research, Estimates) up 1-3/8 to 6-5/8.
Fatbrain.com, an Internet company that manages and distributes information for businesses, said Tuesday it expected to report first-quarter revenue of between $13.5 million and $14 million, which it said was above estimates. The forecast was based on strong growth in the company's business-to-business programs, Fatbrain.com said in a news release.
Flextronics International (FLEX: Research, Estimates) up 4-1/8 to 54-3/16.
Motorola, the world's second-largest wireless phone maker, said it signed an outsourcing pact with Flextronics International worth more than $30 billion over a five-year period and will take a small stake in the contract manufacturer. Flextronics will supply and manufacture certain parts and units included in Motorola's wireless phone, two-way pager, wireless infrastructure products and other devices, the companies said in a joint statement.
HotJobs.com (HOTJ: Research, Estimates) up 1-9/16 to 11-5/8.
Internet recruiting company HotJobs.com was upgraded by PaineWebber to "buy" from "neutral."
Smithfield Foods Inc. (SFD: Research, Estimates) up 2-1/4 to 23-3/4.
Smithfield Foods, one of the largest combined pork slaughterer and processors in the United States, was upgraded by Credit Suisse First Boston to "strong buy" from "buy."
Conseco Inc. (CNC: Research, Estimates) up 1-1/4 to 6-3/16.
Conseco shares jumped after Lehman Brothers Holdings signed a non-binding letter of intent to form an investor group to pay about $750 million to buy Conseco's consumer-finance operations, The Wall Street Journal reported.
Kmart Corp. (KM: Research, Estimates) up 7/8 to 8-1/2.
Kmart named CVS executive Charles Conaway as its new chairman and CEO, immediately replacing Floyd Hall at the helm of the nation's third-largest retailer. Conaway, 39, signed a five-year contract with the Troy, Mich.-based discount store chain. The 61-year-old Hall had said in mid-May that he planned on retiring from the company within the next year.
Lucent Technologies (LU: Research, Estimates) down 9/16 to 57-3/16.
Lucent Technologies, the world's largest telecommunications equipment maker, confirmed Wednesday that it is acquiring the 93 percent of privately held optical networking equipment maker Chromatis Networks that it does not already own for about $4.5 billion in stock.
Anika Therapeutics Inc. (ANIK: Research, Estimates) down 4-3/4 to 2-1/2.
Anika Therapeutics, which makes products for the repair and protection of bones, cartilage and soft tissue, said Tuesday that regulators have stepped up inquiries into the company's revenue figures. The company, which also reported unfavorable results for a knee treatment on Tuesday, said the Securities and Exchange Commission (SEC) issued a formal order of investigation and has required the company to provide further information about revenue it booked.
Geon Co. (GON: Research, Estimates) down 1-11/16 to 21-13/16.
The Geon Company, which produces polyvinyl chloride (PVC) resins and vinyl compounds associated with infrastructure development, building products, and consumer durable goods, was downgraded by Goldman Sachs to "market outperform" from its "recommended" list.
Qualcomm (QCOM: Research, Estimates) down 10 to 66-3/8.
Qualcomm shares fell as investors took profit from Tuesday's gains. Qualcomm rose 16 percent in Tuesday trading after several analysts weighed in on the confusion surrounding China's adoption of Qualcomm's CDMA wireless standards.
Warnaco Group Inc. (WAC: Research, Estimates) down 1-5/8 to 6-11/16.
Calvin Klein said it was suing the apparel company Warnaco Group alleging trademark violations and breach of fiduciary duty and seeking to end long-standing contracts under which Warnaco makes Calvin Klein jeans and underwear.
-- compiled by Staff Writer Lucy Banduci from wire reports