Stocks Fall on Wall Street

0

Wall Street pulled back sharply Monday as a lack of economic news left investors hesitant to buy stocks ahead of the Federal Reserve’s interest rate decision next week.

The Dow tumbled 72.44, or 0.66 percent, to 10,942.11, after sliding as much as 107 points earlier. Last week, a two-day bounce broke nearly six weeks of heavy selling and carried the Dow 1.13 percent higher for the week.

Broader stock indicators also declined. The Standard & Poor’s 500 index fell 11.40, or 0.91 percent, to 1,240.14, and the Nasdaq composite index dropped 19.53, or 0.92 percent, to 2,110.42.





Read the full Associated Press story

.

Thousand Oaks-based Amgen Inc. fell $1.07 to $65.75 on the New York Stock Exchange after it said its best-selling anemia treatment Aranesp shows promise as a possible heart failure treatment, even though improvements in a mid-stage clinical trial were not statistically significant.

Santa Monica-based game maker Activision Inc. fell 44 cents to $11.44 on the Nasdaq National Market after being upgraded to “buy” from “hold” by Citigroup, but downgraded to “accumulate” by Janco Partners Inc.

Los Angeles-based Center Financial Corp., was down 52 cents to $21.96 on the Nasdaq National Market. It announced a quarterly cash dividend of $0.04 per share that will be paid on or about July 12, 2006, to shareholders of record at the close of market on June 28, 2006.

No posts to display