It was a short week on Wall Street, but not short enough for most investors. In keeping with Easter week, however, there were some stocks that went through a resurrection of sorts. Quaker Oats was able to unload its Snapple beverage business to New York-based Triarc Cos. Inc. for $300 million, which investors saw as a good thing. Quaker rose 25 cents to $37.75 in Thursday’s down market while Triarc did even better, up $1.62-1/2 to $17.37-1/2. The reason? Quaker paid $1.7 billion for Snapple in 1994. … Upscale is still chic, at least in Sharper Image’s case. The San Francisco-based retailer and catalog company is reporting same-store sales are up in the fourth quarter as are earnings. Wall Street responded Thursday with an 87-1/2-cent boost of its stock to $4.25.
The technology stocks continue to ride the roller coaster with Software Spectrum going downhill this week. The Texas-based supplier of microcomputer software noted an improvement of sales the past two months after a bad January. But its stock fell $4.12-1/2 Thursday to $16. … Another Texas-based company, NGC, also took it on the chin Thursday, dropping $4 to $15.37-1/2. The reason? A $28-million expense will drive down first-quarter profits.
Click here to comment on this story »