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THE REAL MOST ACTIVE Nasdaq Slips 0.2%; Chinese Net Portals Surge.(B)
Byline: CRAIG SHAW
The Nasdaq edged down Monday as fund managers reshuffled their portfolios to mark the quarter's end and the Russell index rebalancing. The composite index fell 0.2% on stronger trade, the Nasdaq 100 0.3%.
Aceto Corp. slipped 0.97 to 18.84, piercing its 50-day moving average for the first time in five months. More than 700,000 shares changed hands, its heaviest volume of 2003. The chemicals firm had more than doubled this year before giving up some gains in the last two weeks.
Jos. A. Bank Clothiers slid 1.46 to 33.54 on nearly triple normal trade. Brean Murray raised its price target for the men's apparel retailer to $42 from $36, citing strong Father's Day sales. The stock's still more than 5 points above its 50-day line.
Novogen fell 1.11 to 17.52 on twice typical turnover. The Australian pharmaceutical firm broke out of an 18-week base May 8 and has run up 60% since. But its EPS Rating of 42 reflects its long string of annual and quarterly losses.
Chinese Net providers posted some of the day's biggest gains. Sina Corp. said second-quarter results would top forecasts as the SARS ...
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