Big movers in the stock market
Monday, September 11th 2000, 12:00 am
By: News On 6
NEW YORK (AP) â€” Stocks that were moving substantially or trading heavily Monday on the New York Stock Exchange and Nasdaq Stock Market.
Kennametal, up 44 cents at $26.31; JLK Direct Distribution up $2.38 at $8.63.
Kennametal, a tool and construction equipment maker, agreed to acquire the 4.3 million shares of JLK Distribution Inc., a tool supplier, it doesn't already own for $8.75 a share, or $37 million.
Sears Roebuck, up 62.5 cents at $35.38
The retailer announced that Alan Lacy will replace retiring chief executive Arthur Martinez, effective Oct. 1.
J.P. Morgan, up $5.63 at $169.63
The commercial bank's stock rose on continued speculation it is for sale.
Caminus, up $3.19 at $19.88
The software provider's stock rose after a Banc of America Securities analyst upgraded it to ``strong buy'' from ``buy'' on improved earnings expectations.
Cyberonics, up $9.83 at $25.80
Shares of the maker of epilepsy treatments rose after Medtronic offered to buy the company for about $26 a share, or $480 million, in stock.
MediaBay, up 47 cents at $2.47
The direct marketer of audio tapes, old-time radio shows and video tapes said it had entered into an agreement with Sage Entertainment that could result in more than $10 million revenue over a three-year period.