Market diary.A nervous Wall Street plagued by a fresh round of credit worries sent indices spiraling downward for the week ended Aug.15. The Dew dew, thin film of water that has condensed on the surface of objects near the ground. Dew forms when radiational cooling of these objects during the nighttime hours also cools the shallow layer of overlying air in contact with them, causing the condensation of some Jones industrial average lost nearly 800 points, or 5.8 percent, to fall to 12861.5. 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 fell 5.9 percent to 2458.83. The Standard & Poor's 500 Index dropped 6 percent to 1406.7. The LABJ LABJ Los Angeles Business Journal 200 Index lost 6.4 percent to 127.55, with declining issues far outpacing advances by 158 to 34, with eight unchanged. Antworth Mortgage Asset Corp., a real estate investment trust that buys mortgage securities, plunged 33 percent after saying it had received received its third default notice in a week, the most recent one from a unit of Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank . Compounding the overall market slide for cosmetics company Physician's Formula Holdings Inc. was its announcement of a second quarter loss, which sunk the stock 41 percent. Discount retailer 99 Cents Only Stores fell 25 percent after its first-quarter missed analyst expectations, despite net income having risen 60 percent. Conversely, positive earnings reports enabled some area companies to buck market trends. Arden Group Inc., the parent company of Gelson's Markets, jumped 13.5 percent after reporting second-quarter earnings were up 40 percent. Aerospace components subcontractor One who takes a portion of a contract from the principal contractor or from another subcontractor. When an individual or a company is involved in a large-scale project, a contractor is often hired to see that the work is done. Hi-Shear Technology Corp. gained 20 percent after reporting that fiscal 2007 earnings were 49 percent better than the year before. |
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