Market diary.Profit taking swept through the markets during the week ended Nov. 29 as all the major indices finished lower after a two-month run-up. 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. posted its biggest drop in four months on Nov. 27 on fears of an economic slowdown before recovering some to close down 100 points, or 0.8 percent, on the week at 12,226.70. The tech-heavy Nasdaq index fell more steeply, down 1.4 percent to 2,432.23. The Standard & Poor's 500 index was off 0.5 percent to 1399.48, as was the local LABJ LABJ Los Angeles Business Journal 200, which felt to 142.66. Locally, 67 stocks advanced while 126 declined. All major sectors fell or were unchanged, except for the aerospace/defense sector, which eked out a 1 percent gain. Yet 16 stocks still managed to hit new highs, including seven in the real estate sector, which is still benefiting from the impact of the Blackstone Group's buyout offer for Equity Office Properties Trust Equity Office Properties Trust, headquartered in Chicago, Illinois, is the largest owner of office buildings in the United States. It was formed in 1976 by Samuel Zell [1] and in February 2007, was acquired by the Blackstone Group for $23 billion plus the assumption of . Five stocks hit new lows on the year, including Crown Media Holdings. A big gainer was Valueclick Inc., up 10 percent despite Citigroup putting a "hold" on the stock, saying it has hit its $24 a share target. The biggest percentage loser on the week was Patient Safety Technologies Inc., down 38 percent as the company announced it would be late in filing its 10-K report and it received warning of possible delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. from the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion