& #8226; National
Stocks ended lower on Thursday, as investors ignored generally benign economic data and looked ahead to 2006 with a mix of optimism and concern.
The Dow Jones Industrial Average fell 11.44, or 0.1 percent, to 10,784.82. The S & P; 500 slipped 3.75, or 0.3 percent, to 1,254.42. The Nasdaq Composite Index lost 10.78, or 0.5 percent, to 2,218.16.
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& #8226; Local
Local movers were led by Arrowhead Research Corp., which gained 54.4 percent to $5.25, and Ameron International Corp., which edged up 2.2 percent to $45.63. On the down side, First Regional Bancorp slipped 1.9 percent to $68.80 and American Business Bank fell 2.4 percent to $40.
Shares of Hilton Hotels Corp. jumped 7.6 percent to $24 after the Beverly Hills-based hotelier said it agreed to buy the hotel division of UK-based Hilton Group Plc for $5.7 billion in cash, creating the largest lodging company in the world. Hilton Group will retain its gambling and betting business and is expected to be renamed Ladbrokes Plc.
Entravision Communications Corp. rose 1.7 percent to $7.15 after the Santa Monica-based Spanish-language media company’s stock rating was raised to “buy” from “neutral” by Miller Tabak + Co. LLC. The price target was set at $8.50 per share.
