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Thursday's hot stocks
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November 18, 1999: 11:47 a.m. ET
Gains in Chinese firms get more selective; Agilent rises, but can't soar
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NEW YORK (CNNfn) - Shares of Chinese companies continued to rise Thursday on optimism over China's possible entry into the World Trade Organization. But unlike previous sessions, not all China-based firms shared in the gains.
A technology alliance, meanwhile, propelled the stock of a semiconductor maker.
In the early session's highest flyer, shares of American Champion Entertainment (ACEI) soared 660 percent after the television show and video producer said it is on track to acquire an 80 percent stake in China's Great Wall International Sports Media.
The proposed deal, American Champion said, will allow it "to tap into the commercial sports market in China."
For those seeking to profit from the world's most populous nation becoming a full partner in world trade, American Champion uttered the right words.
Investors clearly liked what they heard, sending stock in the San Jose, Calif.-based firm up 2-1/16 to 2-3/8.
Similarly, stock in Qiao Xing Universal Telephone Inc (XING), the Guangdong, China-based phone company rose 10, or 87 percent, to 21-1/2.
These gains followed Monday's agreement between the Clinton administration and Beijing that could allow China to enter the WTO.
But not every Chinese firm listed on American exchanges did well Thursday.
After rising for three days, stock in China Resources Development (CHBR), a Hong Kong-based rubber distributor, fell 5, or 20 percent, to 20.
And shares of China Prosperity Holdings (CPIH), a Hong Kong-based construction-services provider, lost 11-1/16, or 35 percent, to 21-1/8.
Shares of Ramtron International Corp. (RMTR) soared 93 percent after the semiconductor said one of its subsidiaries entered into an agreement to develop semiconductor memory products with Cypress Semiconductor (CY).
Shares of Colorado Springs, Colo.-based Ramtron rose 1-15/16 to 4-1/32.
In the week's most closely awaited IPO, Agilent Technologies (A), a diversified technology spin-off of Hewlett-Packard (HP) performed well in early trading, but has not yet become the blockbuster some analysts expected.
Agilent stock rose 17-3/8, or 58 percent, to 47-3/8, after being priced at 30. This performance lags some of the week's earlier high flyers like Spanish Internet provider Terra Networks (TRRA), which tripled in its debut.
Shares of Vertel (VRTL) fell 25 percent despite announcing an deal with IBM (IBM), where the computer giant will use Vertel's communications infrastructure products.
Stock in Woodlands Hills, Calif.-based company fell 13/16 to 2-7/16.
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