Doral Financial (DRL) Bear Stearns buying 90% of firm. Doral will use the proceeds, together with other transactions, to repay at maturity its $625 million floating rate senior notes due July 20 and to pay for a class action shareholder lawsuit settlement. Stock down to $.91 from 52-week high of $7.83.
Newmont Mining (NEM) Moody’s gives it a downgrade to negative from stable, citing higher operating costs and significant capital expenditures. Shares fall to $38.85 from 52-week high of $56.50.
Worldgate Communications (WGAT) Provider of personal video phones had a bad first quarter, and does not have a ton of cash left. Shares fall to $.45 from 52-week high of $2.16.
Opnext (OPXT) Company invovled in the design and manufacturing of optical modules and components has good quarter but bad guidance. Recent IPO down to $11.20 from high of $19.95.
Source Interlink (SORC) Market still unhappy about magazine, CD and DVD distributor buying part of Primedia magazine operations. Down to $5.49 from 52-week high of $12.89.
Douglas A. McIntyre
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