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3Com among big stock market movers


Stocks that were moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Alcatel-Lucent, up 43 cents at $10.18

The Financial Times reported there has been pressure on the telecommunications company's CEO, Patricia Russo, to quickly present a restructuring plan, and analysts said there was speculation that Russo might resign.

Rite Aid Corp., down 22 cents at $4.62

The drug store chain reduced its full-year outlook and reported a wider second-quarter loss. On Friday, analysts offered mixed opinions on the company's continuing integration of nearly 2,000 newly acquired stores.

Wesco International Inc., up $3.96 at $42.94

The electrical supply and equipment distributor said it will buy back up to $400 million shares, and a CIBC World Markets Corp. analyst said the stock is inexpensive.

NASDAQ

3Com Corp., up $1.26 at $4.94

The maker of networking hardware and software said it is selling itself to affiliates of private equity firm Bain Capital Partners LLC for $2.2 billion and will be taken private.

Silverstar Holdings Ltd., up $2.57 at $5.02

The interactive software developer said it swung to a fiscal fourth-quarter profit, lifted in large part by strong European sales of the video game FlatOut Ultimate Carnage for Xbox 360.

BigBand Networks Inc., down $2.67 at $6.40

The digital-video network provider reduced its third-quarter revenue outlook. Jefferies & Co. analyst George Notter downgraded the stock to "hold" from "buy" and lowered his target price to $7 from $16.

Copyright 2007 AP News
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Author:Staff
Publication:AP News
Date:Sep 28, 2007
Words:243
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