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

Sat., Feb. 28, 1998

WHAT’S HOT

Three stocks beginning with “M” - Microsoft, Merck and Magna Group - had a good week. Microsoft shares were up $4 to $81.625 on the Nasdaq Monday, the first trading day after the stock split. The software giant’s shares closed the week at $84.75. Merck shares rose $5.94 to $130.625 on the New York Stock Exchange Monday as the FDA cleared the drug maker to sell a new asthma medicine. Merck shares slipped a bit, then rallied by $1.56 Friday to a $127.56 weekly close. Magna Group shares jumped $10.56 to $57.50 Monday (NYSE) on reports that the St. Louis-based bank would be acquired by Union Planters. Magna’s weekly close was $58.19.

WHAT’S NOT

Motorola shares dropped $2.875 to $57.625 Tuesday (NYSE) after reports the company is struggling to fix defects in software and cellular network equipment. Shares fell $1.625 Friday to close the week at $55.625. Calling off the biggest proposed merger ever did not help shares of British drug giants SmithKline Beecham and Glaxo Wellcome. SmithKline shares fell $6 to $60 Tuesday (NYSE) and closed the week at $61.875. Glaxo shares fell $6.94 to $55.50 Tuesday (NYSE) and fell another $3.19 Friday to close the week at $54.31.

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