– National
A sharp jump in productivity, the biggest surge in two years, lifted stocks Tuesday, but early gains sputtered, leaving the market up only slightly at the close.
The Dow Jones Industrial Average rose 21.85, or 0.2 percent, to 10,856.86 after being up 101 points in earlier trading. The Standard & Poor’s 500 Index rose 1.61, or 0.1 percent, to 1,263.70. The Nasdaq Composite Index rose 3.12, or 0.1 percent, to 2,260.76.
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– Local
Local movers were led by Keystone Automotive Industries Inc., which rose 6 percent to $30.43, and Guess Inc., which gained 4.8 percent to $35.20. On the down side, shares of Arden Group Inc. fell 1.8 percent to $85.57 and Center Financial Corp. slipped 4.4 percent to $23.65.
Shares of Cherokee Inc. fell 3 percent to $36 after the Van Nuys-based apparel trademark licensing company reported third-quarter net income of $3.25 million (37 cents per share), compared with $3.29 million (38 cents) a year earlier. Revenues rose 5 percent to $8.4 million.
UTI Worldwide Inc. lost 1.2 percent to $95.23 after the Rancho Dominguez-based freight logistics company beat analyst estimates for its third-quarter profit by 3 cents but came in below the revenue forecast. Revenue, at $740.9 million, was under the average analyst estimate of $754.7 million.
Hythiam Inc. rose 11 percent to $5.90 after its stock was rated “buy” in new coverage by UBS AG. The firm’s analyst said Hythiam, whose Prometa outpatient system is used to treat drug and alcohol addiction, dominates a market that could generate $8 billion in revenue for the L.A.-based healthcare services management company.
