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Byline: CRAIG SHAW
NYSE stocks declined in brisk trade Wednesday as investors weighed weak factory data against cautious optimism from Fed chief Alan Greenspan. The Dow industrials fell 0.3%, the S&P 500 0.1%, giving up afternoon gains in a late swoon.
American Italian Pasta soured 2.38 to 44.10, finding support at its 50-day line. More than 1.1 million shares changed hands, the heaviest trade since January. The stock is shaping a nearly 10-month base.
The dry pasta producer met first-quarter profit views of 61 cents a share, but was cut to hold from buy by Janney Montgomery Scott. The investment banker cited the firm's long-term debt balances, lower profit outlook and higher capital spending projections.
Biovail sank 1.93, or 5.1%, to 36.15 on the heels of Tuesday's nearly 10% gap-down. The drug maker's weekly volume has already reached its highest levels in at least three years. It beat first-quarter profit views by a penny. But revenue from pharmaceutical products, at $126.9 million, was below its own quarterly forecast of $135 million to $160 million.
Station Casinos slipped 1.19 to 21.61 on nearly four times normal turnover. The Las Vegas ...