The Ticker A Look Back At The Past Week On Wall Street

WHAT’S HOT

News of International Paper’s plans to eliminate 9,000 jobs, or 10 percent of its workforce, sent its stock up $4.94 per share to close Friday at $57.38. … Meanwhile, Zytec, the Minneapolis manufacturer of electronic power conversion supplies, said it expects second-quarter earnings to meet Wall Street’s estimates, triggering a $7.13 jump to finish the week at $24.75.

WHAT’S NOT

As gold prices plunged to 12-year lows, things were not too shiny for mining companies. News that Australia was selling 167 metric tons in gold reserves sent the stocks of such companies as Vancouver-based Placer Dome down $9.30 per share to $15.56, and Golden Star Resources of Denver, fell from $7.44 per share to $6.75. … Meanwhile, the San Fransico-based bank, Wells Fargo, dipped $18 per share before rebounding to $270.75 because of the costs of last year’s acquisition of First Bancorp. … in Kirkland, Wash. software maker Wall Data said lengthening sales cycles hurt its second-quarter revenues, causing stock prices to plummet $9 per share before ending the week at $18.63. … Finally, MCI Communications, the nation’s second largest long-distance company, dropped $7.38 Friday to close at $35 per share because of unexpected losses from its effort to expand into local phone service.