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Vonage Among Stock Market's Big Movers


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

NYSE

Vonage Holdings Corp., up $1.42 at $2.57

The Internet phone company and Sprint Nextel Corp. said they settled a patent suit. Vonage will pay Sprint $80 million, and Sprint agreed to license Vonage a portfolio of more than 100 patents.

Ryder System Inc., down $3.33 at $45.92

The trucking company reduced its third-quarter and full-year profit forecast because of worse-than-expected results in its U.S. fleet management solutions business.

AK Steel Holding Corp., up $4.77 at $47.75

The company and a group of retirees at its Middletown Works plant settled a lawsuit over a plan to have retirees contribute to health care premiums.

NASDAQ

Business Objects SA, up $7.56 at $57.83

German software company SAP AG late Sunday announced a bid of $6.79 billion for the French company Business Objects SA. SAP's offer was a 20 percent premium over Business Objects' closing price on Friday.

Broadcom Corp., up $2.17 at $39.47

The communications chip maker said Samsung Electronics Co. is shipping new mobile phones using Broadcom chips to countries in Europe, Asia, Africa, Australia and elsewhere.

Edge Petroleum Corp., down $2.93 at $9.81

The independent energy company reduced its production forecast for the third quarter and full-year due to drilling problems and temporary suspensions at sites in Texas, Mississippi and Arkansas.

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Author:Staff
Publication:AP News
Date:Oct 8, 2007
Words:230
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