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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 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 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. 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 from the American Stock Exchange.

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Title Annotation:THE LABJ STOCK INDEX: TRACKING 200 SELECTED LOS ANGELES COUNTY-BASED COMPANIES
Publication:Los Angeles Business Journal
Date:Dec 4, 2006
Words:241
Previous Article:Bankruptcies.(Data Bank)(Directory)
Next Article:Market indexes.(THE LABJ STOCK INDEX: TRACKING 200 SELECTED LOS ANGELES COUNTY-BASED COMPANIES)
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