Market diary.
Reversing itself from the week before, the major market indices
finished the week ended June 15 on an up note, as bond yields improved
and the market responded to several positive economic reports. The Dow
Jones Industrial Average rose 0.9 percent to 10,566.4, the Nasdaq
Composite Index climbed 0.7 percent to 2074.9 and the S&P 500 moved
up 1 percent to 1206.6. The LABJ 200 index of local stocks was 1 percent
higher at 118.66, with advances leading declines 130 to 58 as 27
companies reached new highs and eight hit new lows. Most sectors ended
the week higher--notably software, up 8.8 percent amid boosted personal
computer forecasts. Healthcare, biomedical and pharmaceutical stocks
were down 0.4 percent. Among local gainers, Tekelec was up 15.7 percent
to $16.77 after the stock was upgraded. Intermix Media Inc. was up 9.7
percent, to $6.80, after announcing it had settled a spyware suit with
New York Attorney General Eliot Spitzer. On the down side, MannKind
Corp. fell 23.3 percent, to $8.97, after its stock was downgraded
following the announcement of a lawsuit that accused it of misleading
the Food and Drug Administration about its insulin product in
development.
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