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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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Title Annotation:THE LABJ STOCK INDEX: TRACKING 200 SELECTED LOS ANGELES COUNTY-BASED COMPANIES
Publication:Los Angeles Business Journal
Article Type:Brief Article
Date:Jun 20, 2005
Words:210
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