– National
:
Stocks fell Tuesday after the Federal Reserve raised interest rates as expected, aggravating traders’ anxiety following a disappointing profit forecast from Dell Inc.
The Dow Jones Industrial Average fell 33.30, or 0.3 percent, to 10,406.77. The Standard & Poor’s 500 Index fell 4.25, or 0.4 percent, to 1,202.76. The Nasdaq Composite Index slipped 6.25, or 0.3 percent, to 2,114.05.
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– Local
:
Shares of Computer Sciences Corp. rose 13.2 percent to $58 after the Wall Street Journal reported Lockheed Martin Corp. and three private-equity firms are considering offering $64 to $65 a share for the El Segundo-based computer-services company, valuing CSC at about $12 billion.
American Reprographics Co. gained 10.1 percent to $18.55 after the Glendale-based reprographic services provider’s stock rating was raised to “sector outperform” from “sector perform” by CIBC World Markets. Late Monday, the company said third-quarter sales jumped 15.7 percent to $127.5 million.
On Assignment Inc. jumped 8 percent to $9.19 after the Calabasas-based temporary staffing firm raised its full-year revenue forecast to a range of $234.7 million to $235.7 million, up from previous guidance of $220 million to $223 million. The outlook beat estimates.
And shares of Tarrant Apparel Group plunged 38.5 percent to $1.04 after the L.A.-based apparel company cut its fiscal 2005 outlook, citing slowing denim sales and Kmart’s decision to discontinue distribution of one of its brands. Its full-year sales forecast is now expected to be about $210 million to $215 million, from a prior estimate of $240 million to $250 million.
