Market diary.

THE LABJ STOCK INDEX

TRACKING 200 SELECTED LOS ANGELES COUNTY-BASED COMPANIES

MARKET DIARY

Investors sold off shares after tech bellwether Cisco Systems announced
that new orders trailed shipments for the second consecutive quarter.
The tech-heavy Nasdaq composite average fell 3 percent for the week
ended Feb. 4, while the S&P 500 fell 0.2 percent and the Dow Jones
Industrial Average remained unchanged. Local stocks in the LABJ 200
Index fell 0.4 percent for the week, with declines leading advances
119 to 69. The Internet sector led the laggards with a 7.4 percent
decline; communications and automotive were also among the sputtering
market segments. Health care stocks were up 3.1 percent for week; the
miscellaneous manufacturing, pharmaceutical, restaurants and aerospace
sectors were the only other advancing sectors. Despite this, 25 stocks
reached new highs, including Avery Dennison, whose shares rose 5.8
percent after announcing a 7 percent rise in fourth-quarter net income.
The most active issue: Walt Disney Co., with 60.7 million shares
trading hands. Its share price fell 2 percent on news that Pixar had
broken off negotiations over a new production deal.