Market diary.Stocks staged a strong if erratic performance for the week ended Nov. 9, initially rallying on falling oil prices but giving back gains in reaction to bomb blasts in Jordan. 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. rose 0.7 percent to 10,546.20, while the Nasdaq Composite Index Nasdaq Composite Index An index that indicates price movements of securities in the over-the-counter market. It includes all domestic common stocks in the Nasdaq System (approximately 5,000 stocks) and is weighted according to the market value of each listed rose 1.5 percent to 2175.81. The S&P 500 Index rose 0.5 percent to 1220.65. Meanwhile, the LABJ LABJ Los Angeles Business Journal 200 Index of locally based public companies outperformed all the indices, rising 1.8 percent to 122.22. Among local stocks, declines outpaced advances 99 to 94, with 7 issues unchanged. Thirty-one stocks hit new 52-week highs, while 11 sank to new lows. Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. and pharmaceutical stocks posted the biggest gains for the week, up 8.3 percent. Amgen Inc. led the charge with an 8.6 percent rise, to $80.22 a share. Communications stocks rose 4.8 percent with shares of OSI Systems OSI Systems, Inc. (NASDAQ: OSIS) is a worldwide company based in California that develops and markets security and inspection systems such as airport security X-ray machines and metal detectors, medical monitoring and anesthesia systems, and optoelectronic devices. Inc. rising 12.2 percent to $18.25 a share after it reported better-than-expected earnings. Healthcare continued to notch strong gains, up 4.6 percent. Over-the-counter issue Primedex Health Systems Inc. rose 41.7 percent to 51 cents a share after securing $180 million in financing from Wall Street investment houses. The losers of the week were construction and engineering stocks, which fell 5.8 percent. TELEDYNE TECHNOLOGIES INC. Symbol: TDY TDY abbr. temporary duty Exchange: NYSE NYSE See: New York Stock Exchange Close: $34.12 1-WK % Chg: -0.2% Business Overview Teledyne Technologies, incorporated in 1960, is a provider of electronic components, instruments and communications products, including defense electronics, data acquisition and communications equipment for airlines and business aircraft, monitoring and control instruments for industrial and environmental applications, and components and subsystems for wireless and satellite communications. It also provides systems engineering solutions and information technology services for space, defense and industrial applications. It manufactures general aviation and missile engines and components, as well as onsite gas and power generation systems. The Company serves niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. segments where performance, precision and reliability are critical. Its customers include industrial and communications companies, government agencies, aerospace prime contractors and general aviation companies. The Company operates in four business segments: Electronics and Communications, Systems Engineering Solutions, Aerospace Engines and Components, and Energy Systems. |
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