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Markets & Stocks
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Hot Stocks: Hewlett-Packard
Hewlett-Packard stock rises with new symbol; TMP Worldwide shares tumble on guidance fears.
May 6, 2002: 4:39 PM EDT

NEW YORK (CNN/Money) - Shares in Hewlett-Packard, trading on the New York Stock Exchange under the new stock symbol 'HPQ,' rose more than 4 percent Monday in the first day of trading for HP since buying Houston-based Compaq Computer.

Winn-Dixie Stores stock also rose after the nation's 13th largest grocer said it will close all 76 of its stores in Texas and Oklahoma, laying off 5,300 workers.

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But shares of TMP Worldwide, the parent company of online job site Monster.com, dropped sharply amid fears the company would cut its guidance when it reports quarterly earnings on Tuesday.

Monday's winners

Hewlett-Packard (HPQ: up $0.78 to $18.22, Research, Estimates). Hewlett-Packard on Friday closed the largest acquisition in technology industry history, ending a divisive merger battle as it bought Compaq Computer for $18.69 billion in HP stock.

Winn-Dixie Stores (WIN: up $0.83 to $17.95, Research, Estimates). The grocer said it plans to cease its Texas and Oklahoma operations and record a $75 million charge for a restructuring aimed at focusing the company on profitable areas.

Wild Oats Markets (OATS: up $3.15 to $13.95, Research, Estimates). The natural foods supermarket chain earned 3 cents per share in the first quarter rather than the 3-cent-a-share loss expected by analysts. The company said sales at stores open at least a year rose 7.3 percent in the first quarter.

Church & Dwight (CHD: up $2.05 to $31.59, Research, Estimates). The manufacturer of household and consumer products, including Arm & Hammer baking soda, reported first-quarter earnings of 36 cents per share, 4 cents higher than expected and 6 cents better than one year earlier. The company also raised full-year guidance.

Drugstore.com (DSCM: up $0.54 to $2.64, Research, Estimates). The online pharmacy and beauty products retailer revealed that a group of investors had purchased 6.8 million shares of the stock from Rite Aid (RAD: up $0.06 to $3.32, Research, Estimates), which has a strategic relationship with the company.

Marvel Enterprises (MVL: up $0.04 to $7.70, Research, Estimates); Grand Toys (GRIN: down $0.04 to $2.80, Research, Estimates). Marvel, creator of the original comic book, and Grand Toys, vendor of "Spider-Man" licensed merchandise, both benefited from the film's $114 million record-breaking debut weekend.

Synopsys (SNPS: up $4.36 to $46.07, Research, Estimates). The maker of electronic design automation tools said second-quarter results will top current estimates due to stronger-than-expected customer orders.

Express Scripts (ESRX: up $6.79 to $58.04, Research, Estimates). Banc of America said it understands that the provider of health care management and administration services received word late Friday that it is not a target of the investigation by the U.S. Attorney's office in Boston that led to its recent subpoena, according to Briefing.com.

AdvancePCS (ADVP: up $1.32 to $31.68, Research, Estimates). Shares of the pharmacy benefits manager rose on the Express Scripts news.

Monday's losers

TMP Worldwide (TMPW: down $1.38 to $22.88, Research, Estimates). TMP stock has been hammered this year, plagued by the sagging labor market and a report in Forbes magazine questioning its accounting practices, which have driven its shares down about 50 percent.

Computer Network Technology (CMNT: down $1.80 to $6.97, Research, Estimates). The data storage networking systems maker warned Monday that it will post a first-quarter loss on worse-than-expected revenue. Analysts have been expecting a profit.

Earthlink (ELNK: down $0.87 to $7.00, Research, Estimates). Shares of the Web portal fell after the company announced that its president will resign and its CEO will assume his day-to-day responsibilities.

Seitel (SEI: down $3.37 to $5.65, Research, Estimates). The provider of seismic data for oil and gas exploration, in compliance with the Securities and Exchange Commission, filed amendments Friday to its 10-K regarding the reason for its restatement of financial results in April and revealed that it is being sued by shareholders. On Monday, the company said it will sell up to $20 million of common stock at below market prices to an institutional investor.

Autodesk (ADSK: down $3.24 to $14.07, Research, Estimates). The graphics design software maker lowered its first-quarter forecast, saying that the difficult economic environment hurt its business more than it had anticipated.

Ikon Office Solutions (IKN: down $1.64 to $11.36, Research, Estimates). The maker of business equipment and provider of business services said it will raise $250 million from a private sale of subordinated notes that will then be convertible into company stock.

Peregrine Systems (PRGN: down $1.68 to $0.89, Research, Estimates). The global provider of software and services said its board had authorized an internal investigation into potential accounting inaccuracies brought to the attention of the audit committee by KPMG, which was engaged by Peregrine in April to replace Arthur Andersen. Additionally, the board announced the resignations of Chairman/CEO Steve Gardner and chief financial officer Matt Glass.

Pemstar (PMTR: down $4.29 to $2.84, Research, Estimates). The provider of electronics manufacturing services issued revenue and earnings expectations far weaker than Wall Street estimates, citing continued pressure in the electronics industry. Pemstar expected a quarterly loss of 22 cents to 33 cents per share. Analysts had forecast a profit of 6 cents a share, according to First Call. Lehman Brothers cut its rating on the stock to "buy" from "strong buy."  Top of page


-- from staff and wire reports






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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.