Hot Stocks: Fool's Gold

August 24, 2001 Posted: 2021 GMT

NEW YORK (CNNfn) -- The New York Stock Exchange asked Golden West Financial to comment on the unusual activity of its stock, but the savings and loan firm cited a company policy not to comment on its stock's movement.

Housing firms NVR Corp., Lennar Corp., and Toll Brothers rallied after the commerce department said housing starts climbed 4.9 percent, beating analysts estimates.

Lennar Corp. (LEN: up $2.20 to $42.60, Research, Estimates); Toll Brothers (TOL: up $1.46 to $36.65, Research, Estimates); NVR Corp (NVR: up $5.25 to $164.00, Research, Estimates). The housing stocks climbed after the commerce department said housing starts jumped 4.9 percent in July, topping estimates for the month.

Triangle Pharmaceuticals (VIRS: up $0.60 to $3.22, Research, Estimates). The antiviral drug developer said Warburg Pincus, the mutual fund company, and other investors will buy about 28 million shares of Triangle common stock at $2.65 per share.

Sirius Satellite Radio (SIRI: up $0.32 to $7.20, Research, Estimates). BMW of North America said it will offer Sirius satellite radio service to new car buyers beginning in the second quarter of 2002.

Headhunter.net (HHNT: up $2.21 to $9.16, Research, Estimates). Publishers Tribune Co. and Knight Ridder are teaming up to buy the online resume bank for about $200 million, or $9.25 a share cash. The company will be combined with CareerBuilder to compete with Monster.com, owned by TMP Worldwide (TMPW: Research, Estimates).

Electronics Boutique (ELBO: up $4.75 to $40.68, Research, Estimates). The consumer electronics retailer Electronics Boutique said it expects to return to profitability in the current quarter.

Prime Group Realty Trust (PGE: up $1.54 to $14.34, Research, Estimates). The real estate investment trust said it has received a $219.8 million takeover offer from a buyout group that includes the company's chairman, Michael Reschke.

Cisco Systems (CSCO: up $1.49 to $18.25, Research, Estimates). The supplier of the equipment used to route traffic over the Internet said Thursday it is restructuring its business into 11 technology groups and that it sees signs of its business stabilizing.

Microsoft (MSFT: up $2.93 to $62.05, Research, Estimates). A federal appeals court remanded the Microsoft antitrust case to a lower court for further review and hearings on a remedy for anticompetitive practices. In addition, the software maker said development of its Windows XP operating system is now complete.

Williams-Sonoma (WSM: up $3.61 to $32.21, Research, Estimates). The retailer said third-quarter profit fell to $1.4 million, or 2 cents a share, topping forecasts.

Novell (NOVL: up $0.44 to $4.74, Research, Estimates). The networking-software company Thursday reported third-quarter earnings before certain charges that beat Wall Street expectations. The company also said it expects to break even in the fourth quarter, before certain items.

ADC Telecommunications (ADCT: up $0.61 to $4.79, Research, Estimates). The communications equipment maker reported a third-quarter loss after posting a profit in the year-earlier quarter and warned that fourth-quarter results will come in at the low end of expectations.

Lucent Technologies (LU: up $0.37 to $7.02, Research, Estimates). The telecommunications equipment maker could undertake further cost cutting if it wants to meet its growth targets for 2002, according to a published report Friday.

Golden West Financial Corp. (GDW: down $6.38 to $54.75, Research, Estimates). The New York Stock Exchange asked the savings and loan company to issue a statement explaining the "unusual market activity" of its stock. Golden West cited company policy in not commenting on its stock activity.

ROHN Industries (ROHN: down $0.90 to $2.80, Research, Estimates). The telecommunications equipment provider said it is "not confident" it will achieve its lowered earnings guidance for 2001.

Kmart (KM: down $0.73 to $10.24, Research, Estimates). Prudential downgraded the retailer to "hold" from "buy" one day after posting a second-quarter loss 4 cents a share, meeting forecasts.

Professional Detailing (PDII: down $3.16 to $30.10, Research, Estimates). The marketer of drugs for pharmaceutical firms warned about lower revenue and earnings estimates for 2001 and 2002 as a result of potential competition from generic drugs.

VA Linux (LNUX: down $0.13 to $1.60, Research, Estimates). The maker of the Linux computer operating system posted a wider fiscal fourth-quarter loss after the bell Thursday on revenue that fell more than 68 percent.

-- from staff and wire reports

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