Midday Movers: Arrowpoint, Conseco, Bausch & Lomb and Interstate Bakeries

Arrowpoint(ARPT Quote) was lately jumping 53, or 155.7%, to 87 after Goldman Sachs priced its 5 million-share IPO at $34 a share. ArrowPoint recently raised its initial $15-$17 projected share price to $30-$32. The company makes switches that route Web content requests to network servers.

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Mergers, acquisitions and joint ventures

The Federal Communications Commission gave its final OK to the merger of Bell Atlantic (BEL Quote) and Vodafone AirTouch's (VOD Quote) wireless businesses. According to the FCC, the joint venture will operate under Bell Atlantic's Cellco unit. Bell Atlantic added 3/4 to 62 and Vodafone Airtouch declined 1/16 to 55.

Separately, the FCC also gave the thumbs up to the VoiceStream Wireless (VSTR Quote) acquisition of Aerial Communications (AERL Quote). VoiceStream has already closed its purchase of Omnipoint (OMPT Quote) and said the three merged companies would provide service to more than 200 million customers. VoiceStream Wireless slid 6 1/2, or 5%, to 121 7/8 and Aerial Communications stumbled 2 1/8 to 55 1/8.

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