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The Energy User News Index of key energy index stocks (U.S.) forged ahead this session, joining the major market indices ending in the black. At the close of the two-month period ended February 27, 2004, investors were faced with a robust gross domestic product figure and a slide in consumer confidence. Despite dropping nearly 10 points, the University of Michigan's consumer confidence numbers were in line with Wall Street's expectations. "If you look at it historically, there's a real disconnect between what consumers tell you versus what they actually do," said A.G. Edwards & Sons equity strategist Scott Wren. "Consumers are continuing to spend money in this economy."
The Energy User News Index increased 34.54 points, or 3.07%, to end the session at 1158.37. The Dow Jones Industrial Average added 130.00 points or 1.24% to close at 10583.92. Of the 40 stocks tracked in the index, advancing issues outpaced decliners by a 25 to 15 count.
Capstone Turbine decreased its loss for the third fiscal quarter ended December 31, 2003. The company's net loss was $11.6 million, or $0.14 per share, versus a net loss of $20.7 million or $0.26 per share in the comparable quarter a year ago. Capstone CEO John Tucker said, "Our ...