NEW YORK (CNNfn) - Shares of Boeing dropped below their 52-week low on Thursday, one day after the aircraft maker said it would slash as many as 30,000 jobs in the latest move to combat the weakening airline industry.
Applied Materials also joined a long list of companies to lay off employees. The semiconductor equipment maker said it plans to cut its global work force by 10 percent.
In addition, Disney shares tumbled sharply as the media powerhouse bought back its own shares from "significant shareholders" at a discount to the market price and the brokerage firm Goldman Sachs bought Disney shares from the same shareholders with the intention of reselling them into the market.
Thursday's losers
Applied Materials (AMAT: down $1.63 to $29.49, Research, Estimates). The leading microchip equipment maker joined a long list of other companies in dishing out bleak news. The company slashed its global work force by 2,000 positions.
Boeing (BA: down $2.85 to $29.76, Research, Estimates). The aircraft maker implemented its first layoffs Thursday. Boeing said earlier this week it plans to cut as many as 30,000 jobs. The Chicago-based company said its layoffs will have a ripple effect on its suppliers around the world
British Airways (BAB: down $1.82 to $22.03, Research, Estimates). Europe's biggest airline plans to slash 5,200 jobs in response to last week's terrorist attacks on the United States.
BE Aerospace (BEAV: down $0.95 to $4.08, Research, Estimates). Credit Suisse First Boston downgraded the manufacturer of cabin interior products for commercial and general aviation aircraft to "buy" from "strong buy."
Walt Disney (DIS: down $1.52 to $16.98, Research, Estimates). The entertainment media powerhouse has repurchased 50 million shares of its stock from "certain significant" shareholders at a discount to market prices. Goldman Sachs (GS: down $1.76 to $65.75, Research, Estimates) also said it would purchase 85 million shares, but the brokerage firm said it intends to resell them back to the market.
Cendant (CD: down $0.81 to $11.69, Research, Estimates). The franchiser of Days Inn hotels and Avis rental cars said it is evaluating the impact of last week's tragedy on its business. The terrorist attacks, especially, has a major impact on the travel and tourist industries.
Take-Two Interactive Software (TTWO: down $2.28 to $8.00, Research, Estimates). The video game publisher warned Wednesday of sharply lower fourth-quarter results and said it would change the content in some of its upcoming games in light of the attacks on the World Trade Center and Pentagon.
Cadence Design (CDN: down $0.69 to $16.23, Research, Estimates). Robertson Stephens on Wednesday lowered the 12-month price target on the electronic design products supplier to $21 from $26, citing a slump in the technology sector.
Rayovac (ROV: down $2.95 to $13.30, Research, Estimates).The battery maker warned Thursday that fiscal fourth-quarter and 2002 results would miss Wall Street expectations, citing a continuing slowdown in U.S. battery sales.
Tribune Co. (TRB: down $3.28 to $32.40, Research, Estimates).The publisher of the Chicago Tribune and the Los Angeles Times warned Wednesday that its third-quarter and full-year earnings would fall short of expectations, citing the tough advertising market following last week's attacks on the United States.
Microsoft (MSFT: down $3.11 to $50.76, Research, Estimates). The software maker is modifying plans for its Passport service, inviting rivals and other companies to create a common way to use a single user name and password at sites across the Internet, according to a Wall Street Journal report.
Citigroup (C: down $2.09 to $36.36, Research, Estimates). JP Morgan downgraded the financial services firm to "market perform" from buy."
Petroleum Geo-Services (PGO: down $1.00 to $6.00, Research, Estimates). Shares of the oil and gas seismic survey specialist tumbled 30 percent after the Oslo bourse said a board member had sold a major holding of shares.
General Motors (GM: down $2.68 to $40.70, Research, Estimates). The automaker is expected to close its deal to buy bankrupt Daewoo Motor of South Korea on Friday.
Thursday's winners
Priceline.com (PCLN: up $0.26 to $2.29, Research, Estimates). Shares of the online travel auctioneer received a boost after Hong Kong-based Hutchinson Whampoa and Cheung Kong Holdings said they would increase their stake in Priceline.com from 27 percent to 37.5 percent.
Newmont Mining (NEM: up $1.10 to $23.90, Research, Estimates). Shares of the mining company received a boost after Goldman Sachs upgraded it to "market outperform" from "market perform."
Pharmaceutical Product Development (PPDI: up $4.41 to $25.92, Research, Estimates). The medical research and development firm on Wednesday raised its third-quarter earnings outlook to 22 cents a share, compared with an analysts' forecast of 20 cents a share.
PictureTel (PCTL: up $0.75 to $5.80, Research, Estimates). Video-conferencing providers PictureTel and Polycom (PLCM: down $0.43 to $24.27, Research, Estimates) said Wednesday they had received an early antitrust clearance from U.S. authorities, giving the greenlight for the merger of both companies.
3Com (COMS: up $0.10 to $3.79, Research, Estimates).The networking parts maker on Wednesday reported a first-quarter loss that was worse than expectations, and said it would cut 1,000 more jobs by November than it had expected in its restructuring plan.
JDS Uniphase (JDSU: up $0.02 to $5.72, Research, Estimates). Credit Suisse First Boston upgraded the fiber-optic component maker to "buy" from "hold," saying it expects the firm to survive the market downturn and participate in a sector recovery.
Tenet Healthcare (THC: up $1.50 to $56.00, Research, Estimates). The No. 2 U.S. hospital operator on Wednesday raised its first-quarter earnings outlook to between 65 cents and 67 cents a share, compared with the analysts' consensus forecast of 60 cents a share.
-- from staff and wire reports 
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