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THE REAL MOST ACTIVE Nasdaq Stocks Finish Lower On Lighter Volume.(B)
Byline: CHRISTINA WISE
Nasdaq stocks slipped lower Friday amid mixed economic reports. The composite index finished the day down 1.2%.
Traders unloaded retailers, including United Stationers, which fell 2.38 to 37.04 on nearly four times typical trade. It's now 6% short of the high it notched Thursday. The business product wholesaler met estimates with fourth-quarter earnings of 57 cents a share. That was 23% lower than last year and marked its fourth straight quarter of falling earnings.
Women's clothing retailer Christopher & Banks sank 2.27 to 30.43, finishing just above its 50-day moving average.
A number of medical stocks also lost ground. Transkaryotic Therapies took another step south, sinking 2.87 to 35.98 on quadruple usual trade. The biotech company is slated to release fourth-quarter earnings after the close on Feb. 11.
Respironics dropped 1.13 to 27.95. In all, the stock has shed nearly 24% of its value since lowering its full-year revenue outlook on Jan. 24.
Elsewhere, Waste Connection stumbled 3.09 to 23.91 on extremely heavy volume. The slide came as industry heavyweight Waste Management cut its fourth-quarter earnings outlook. Waste Connections reaffirmed its ...
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