Market diary.Stocks showed signs of stabilizing last week after oil prices backed off from record highs and economic data backed views that the economic recovery was neither overheating Overheating An economy that is growing very quickly, with the risk of high inflation. nor fizzling out. 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. gained 0.1 percent, while the broad S&P 500 Index rose 0.3 percent and the tech-heavy Nasdaq compesite index fell 0.2 percent. The LABJ LABJ Los Angeles Business Journal 200 Index of local stocks fell 0.3 percent. Among the most active local stocks, online advertising firm Valueclick Inc. fell 28.8 percent after reporting quarterly earnings below expectations, while chip manufacturer International Rectifier International Rectifier Corp. (NYSE: IRF) is a manufacturer of power semiconductors (MOSFET, IGBT, diodes and thyristors), located in El Segundo, California, USA. It has a market capitalization of 2.48 billion USD and is listed on the S&P Midcap 400. Corp.'s shares surged by 11.3 percent on a strong earnings report. Another local chipmaker chip·mak·er n. A manufacturer of electronic and integrated circuit chips. , Diodes Inc., led the list of top gainers for the week, rising by 21.2 percent to $23.11 a share, also on strong quarterly earnings. Among the week's biggest losers was Homestore Inc., down 15.7 percent to $2.90 a share after its auditors, Ernst& Young, reported some problems with the company's internal controls in a Securities and Exchange Commission filing. Local advances led declines for the week, 94 to 88, while six stocks hit new highs and 13 hit new lows. Among local industry sectors, computers and peripherals had the best week with a 5.1 percent gain while Internet firms were the biggest losers, falling 8.9 percent. |
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