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THE REAL MOST ACTIVE Nasdaq Gives Up 1.1%; Medicals Lose Ground.(B)
Byline: NANCY GONDO
Nasdaq stocks opened higher Friday, but pulled back later in the session to close near their intraday low on much lower volume. Most medical groups had a particularly bad day. The composite slid 1.1% and the Nasdaq 100 1.0%.
Sonosite plunged 6.19 to 15.80 on its heaviest trade of the year as more than 2.4 million shares changed hands. Shares pierced their 200-day moving average for the first time since early March. The ultrasound imaging device maker lost 9 cents a share in the second quarter, better than last year's 20-cent loss but well below views for a 1-cent profit.
Drug maker Cima fell 2.46, or 8.6%, to 26.12 on triple average volume. The stock has closed below its 50-day line for 10 of the past 11 sessions. Late Thursday the firm announced a second-quarter profit of 22 cents a share, up 29% from a year ago but 3 cents off views. It expects 24-27 cents in the third quarter, below forecasts for 29 cents.
Among other drug makers, Shire Pharmaceuticals shed 0.63 to 22.80 and Penwest Pharmaceuticals 0.66 to 22.51.
Equinix sank 4.44 to 14.61 on its biggest turnover of the year. Executives of the network services provider disclosed plans to ...
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