The Ticker A Look Back At The Past Week On Wall Street
What’s hot
There were few big winners during the week in which Wall Street suffered its biggest setback since 1990.
Sealed Air, best known for its Bubble Wrap packaging, agreed to buy specialty chemical maker W.R. Grace for $5 billion in cash and stock. Sealed Air will absorb W.R. Grace’s packaging business. On Friday Sealed Air’s stock closed at $53.13, up $6.56 from Thursday and up from last week’s close of $46.19 on the NYSE. W.R. Grace closed at $72, up $2.50 from Thursday. … Meanwhile on the NASDAQ, Geron, the biopharmaceutical company of Menlo Park, Calif. said it cloned a gene for the human telomerase catalytic protein, which is believed to affect the aging of cells and could lead to anti-cancer drugs. It’s stock was up $7.50 on Friday at $14, up from last week’s close of $6.63.
What’s Not
Micron Technology fell $7.13 to $42.63 on Wednesday. The Boise-based company, which makes random access memory chips for computers, saw its shares drop as Merrill Lynch and three other firms cut their earnings estimates for Micron following a meeting with management Tuesday.
Micron’s shares closed at $42.63 on NYSE’s trading, down from last week’s close of $56.75