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Byline: CRAIG SHAW
The Nasdaq marked a 21-month high Monday as positive factory data lifted hopes for an economic rebound. The composite jumped 1.8% on heavier volume. Chip, Internet and telecom stocks led the way.
American Home Mortgage Holdings broke out of a 16-week base, vaulting 2.21 to 23.31. More than 1.6 million shares changed hands vs. its 50-day average of 269,000. That was the year's heaviest trade.
The mortgage lender last week boosted third-quarter profit by 39% and raised its 2004 outlook. Sales climbed 65%, a slowdown from the prior four quarters. The stock appeared in Monday's WebLink, which noted the earlier breakouts of peers Countrywide Financial and Accredited Home Lenders.
Strayer Education cleared an 11-week flat base, leaping 5.94 to 104 on twice normal turnover. The Virginia-based post-secondary educator topped third-quarter profit views by 2 cents a share and raised its full-year outlook. Revenue has grown by double digits for 11 quarters. It's featured in Nasdaq Stocks In The News on page B8.
John B. Sanfilippo & Son surged 2.59 to ...