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THE REAL MOST ACTIVE Late-Day Reversal Erases Nasdaq's Early Gains.(B)
Byline: JONAH KERI
What looked like another day of heady gains turned to dust Monday as a late-day reversal sent Nasdaq stocks to a loss by the close. The tech-laden index fell 0.3%, while the Nasdaq 100 dropped 1.1%. Volume picked up for the fifth straight day, not a good sign in a down session.
Kos Pharmaceuticals plunged 3.39, or 14%, to 20.97. Volume exploded to 5 1/2 times its 50-day average level. UBS Warburg downgraded the stock to neutral from buy, citing valuation. That scuttled the stock's May 27 breakout and left it 22% off its high. The firm makes drugs to treat chronic cardiovascular and respiratory diseases.
Staying with drug makers, Sicor rose as high as 21.49 before turning tail. The maker of oncology drugs, particularly generic injectable drugs, closed down 1.25 to 19.89 on more than twice its normal trade. Merrill Lynch downgraded the stock to neutral from buy.
OmniVision Technologies also gave ground after a long, nearly uninterrupted run-up. The fabless semiconductor company, which makes single-chip image sensors that capture and convert images for cameras, surveillance systems and games, ...
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Arizona's new governor, Evan Mecham, has become the target of music industry protests over one of his first actions after his inauguration-rescinding the state's Martin Luther King Day. The Doobie Brothers canceled a reunion concert that had been scheduled for Phoenix. Now the Irish band U2, which
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- Magazine article from: Investors Chronicle - magazine and web content August 18, 2009 700+ words
...the previous day's lowest point. That's known as a key day reversal, and is a significant indicator that a market could be about...news is the new bad On the first trading day after that key day reversal, charting theory appeared to hold firm. The FTSE 100 finished...
- MORNING UPDATE: Man Securities Issues Alerts for NXTL, BA, NET, BJS, And KOPN.
- Press release article from: PR Newswire June 5, 2003 700+ words
...good volume, albeit less than we saw on Monday's intra-day reversal. The Dow's intra-day high was about 20 points shy of...averages. The latest was, of course, Monday's intra-day reversal. But momentum dies hard and it may take a while longer for...
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- Press release article from: PR Newswire June 5, 2003 700+ words
...good volume, albeit less than we saw on Monday's intra-day reversal. The Dow's intra-day high was about 20 points shy of...averages. The latest was, of course, Monday's intra-day reversal. But momentum dies hard and it may take a while longer for...
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- Press release article from: PR Newswire June 5, 2003 700+ words
...good volume, albeit less than we saw on Monday's intra-day reversal. The Dow's intra-day high was about 20 points shy of...averages. The latest was, of course, Monday's intra-day reversal. But momentum dies hard and it may take a while longer for...
- Dow Soars 64 Points But Ends Down 44 in Biggest Volume Day
- Newspaper article from: The Washington Post Stan Hinden January 24, 1987 700+ words
...that the market, after its lengthy rise in recent days, would see a short-term turnaround. "It's a classic one-day reversal," said Gordon. He said he expects to see the Dow remain at the 2000 to 2050 level for a while. Market analysts agreed...
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- Newspaper article from: Poland Business News December 9, 2002 700+ words
...end, yields were up in the 2Y segment, but down on Friday closing levels in 5Y and 10Y benchmarks. The late-in-the-day reversal came as some investors closed positions ahead of the Tuesday switching auction after having sought out the various series...
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- Press release article from: PR Newswire June 4, 2003 700+ words
...shown are examples only. These are not recommendations to buy or sell any security. INVESTOR INSIGHTS Monday's intra-day reversal for the major averages on heavy volume didn't offer any follow-through in Tuesday's session. Even IBM's announcement...