DOW DROPS 207 POINTS; SOME CLIMB, MOST DROP IN LOCAL INDEX.Byline: Ben Sullivan Daily News Staff Writer As bad as it was for the broader markets Monday, things could have been worse for the Daily News/Bloomberg Index. Comprising 50 of the largest publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. headquartered in the area, the index dropped just 1.47 points - or a little more than 1 percent - to close at 135.21. Overall, 33 Daily News/Bloomberg Index companies lost ground Monday, 14 gained and three were unchanged. By comparison, renewed concern over the faltering economies in Asia pushed the Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. down 207.01, or 2.3 percent, to 8,627.93. The Daily News/Bloomberg Index was created in September 1997 with a starting value of 100 points. The index's largest loser Monday was Newbury Park-based Semtech Corp. The maker of analog semiconductors used in computers and other electronic devices saw its share price fall $1.687, or 9 percent, to close at $16.94. The semiconductor sector as a whole has slowed in 1998, both because of reduced buying from Asia and fewer domestic computer sales, said Arun Veerappon, an analyst at Bank America Robertson Stephens. ``All the (semiconductor) stocks have been affected,'' Veerappon said. The loss took some of the shine off Semtech's launch Monday of a new single-chip modem to be used in the industrial communications industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. . Also losing ground Monday was MRV Communications  OverviewMRV NASDAQ: MRVC is a company that designs, manufactures, sells, distributes, integrates and supports communication equipment and services, and optical components. Inc. in Chatsworth, which lost $1.25 to close at $19.375. In the big scheme of things, however, ``That's pretty mild,'' said Volpe Brown Whelan analyst Amar Senan. Senan said MRV's loss is probably even appropriate, given the cycle of the network switching equipment market. Sales of such equipment typically slow in the summer, when many businesses in Europe come to a near standstill as employees take extended vacations, Senan said. Among the many losses - including a $1.50 ding 1. ding - Synonym for feep. Usage: rare among hackers, but commoner in the Real World. 2. ding - "dinged": What happens when someone in authority gives you a minor bitching about something, especially something trivial. "I was dinged for having a messy desk." that took biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. giant Amgen Inc.'s shares down to $62.06 - were a few bright spots. Most notably, 3D Systems Corp. of Valencia rose 43.75 cents to close at $11.50, on news that Hitachi Zosen will sell and service one of its ``three-dimensional printers'' in Japan. 3D makes stereolithography The first 3D printing technology, which was pioneered by Chuck Hull of 3D Systems. See 3D printing. devices that create rapid, plastic prototypes from digital design files. Also gaining Monday was Woodland Hills-based PacificAmerica Money Center Inc., which rose $1.25 to close at $19. The provider of ``sub-prime'' home loans for people with poor credit gained on sustained growth in the housing market. LOCAL SPOTLIGHT The top gainers and losers among the Daily News/Bloomberg Index members after Monday's volatile market: LOSERS COMPANY HQ CLOSE ACTION CHANGE Semtech Corp. Newbury Park 16 15/16 -1 11/16 -9.06% ACT Networks Camarillo 11-1/4 - 1/4 -6.25% MRV MRV minute respiratory volume. Communications Chatsworth 19-3/8 -1-1/4 -6.06% Syncor Intl. Corp.Woodland Hills 15-3/4 -1 -5.97% North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Scientific North Hollywood 27-3/4 -1-1/2 5.13% WINNERS COMPANY HQ CLOSE ACTION CHANGE Brilliant Digital Woodland Hills 2 13/16 +-1/4 +9.76% PacificAmerica Money Center Woodland Hills 19 +1-1/4 +7.04% Guitar Center Calabasas 27-3/8 +1-3/8 +5.29% Cheesecake Factory Calabasas 21 +13/16 +4.025 3D Systems Corp. Valencia 11-1/2 +7/16 +3.95% CAPTION(S): Photo, Box PHOTO (Color) A trader works on the floor of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. on Monday, a day in which the Dow dropped 207.01 points. Adam Nadel/Associated Press BOX: LOCAL SPOTLIGHT (see text) |
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