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Byline: CHRISTINA WISE AND INVESTOR'S BUSINESS DAILY
Yield curve concerns again weighed on Nasdaq stocks Friday.
The composite shed 0.6%, but finished the year up 1.4%. Friday's volume was higher.
Cosmetic laser manufacturers continued breaking down.
Syneron Medical gapped down below its 200-day moving average on more than six times its average volume. Shares fell 3.94, or 11%, to 31.75 after CIBC analyst John Calcagnini downgraded the stock to sector perform from sector outperform. The analyst said Syneron may miss its fourth-quarter consensus revenue estimate of $29 million amid increasing competition.
Palomar Medical moved in sympathy, losing 2.43, or 6%, to 35.04 on more than 5 1/2 times usual turnover. The stock had advanced 29% from a Nov. 7 breakout at 30.32. The industry's weakness started with a 34% plunge by Cutera, when the company suffered a setback in court in a patent battle against Palomar Medical.
Construction-related stocks suffered some of the day's largest declines. Building Materials Holding ...