Market diary.Wall Street managed to pull out a slight gain for the week ended Aug. 8 even though skittish skit·tish adj. 1. Moving quickly and lightly; lively. 2. Restlessly active or nervous; restive. 3. Undependably variable; mercurial or fickle. 4. Shy; bashful. investors dragged indices over rumors that Goldman Sachs might make a troubling announcement after Wednesday's close. Earlier, investors had been buoyed by solid quarterly earnings reports throughout the week and encouraging statements from the Fed on Tuesday. 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. ended the week up 2.2 percent to 13657.90. The Standard & Poor's 500 Index also gained 2.2 percent to 1497.49. 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 gained 2.3 percent to 2612.98. The LABJ LABJ Los Angeles Business Journal 200 Index was up 1.5 percent to 136.22 as declining issues slightly outpaced advances 100 to 93, with seven unchanged. Small World Kids Inc., whose Small World Toys subsidiary declared Chapter 11 on Aug. 3, was the index's top loser, down 29 percent to 75 cents a share. En Pointe Technologies Inc. followed with a 28 percent drop to $3.05 after reporting disappointing third quarter earnings. Offshore staffing agency PeopleSupport Inc. gained 22 percent after announcing a stock buyback Stock buyback A corporation's purchase of its own outstanding stock, usually in order to raise the company's earnings per share. stock buyback See buyback. and upgrading its 2007 earnings guidance to above analyst expectations. Premium denim manufacturer True Religion Apparel Inc. rose 22 percent to $21.84 after reporting that second quarter earnings improved 4 percent, earning an upgrade to "outperform" from Friedman, Billings, Ramsey & Co. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion