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Byline: CRAIG SHAW
NYSE stocks closed down after a late-day retreat Friday as volume withered ahead of the Labor Day weekend. The S&P 500 fell 0.2%, the Dow 0.1%. For the week, the benchmark S&P lost 2.6% after five weeks of gains. But it posted its first positive month since March, up 0.5%.
Cytec Industries dived below its 200-day line as Goldman Sachs reportedly downgraded the specialty chemical firm to market outperform from its recommended list, saying its recovery could be slower than expected. It fell 1.55, or 5.5%, to 26.60 on more than twice normal trade. Profit has declined for six straight quarters, helping knock its Earnings Per Share Rating to a dismal 33.
Electricity and gas provider Exelon Corp. took out its 50- and 200-day lines, plunging 3.19, or 6.4%, to 46.82 on fast turnover. News reports Thursday said Exelon and federal energy regulators disagree over how it should account for restructuring moves on its balance sheet. The Securities and Exchange Commission is reportedly reviewing the matter.
Benchmark Electronics dipped 0.97 to 25.40 on heavy trade. The provider of manufacturing services to electronics makers has declined for six straight days, piercing its 50- and 200-day lines. It's 23% off its 52-week high.
On the upside, Ball Corp. ...