Wall Street Slips on Factory Order Drop

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NATIONAL

Wall Street finished the week with a listless session Friday as a decline in big ticket factory goods did little to assuage investors’ economic worries and left the major indexes slightly lower. The market posted a modest loss for the week.


According to preliminary calculations, the Dow Jones industrial average fell 30.02, or 0.27 percent, to 10,989.09. Broader stock indicators were just below the flatline. The Standard & Poor’s 500 index lost 1.10, or 0.09 percent, to 1,244.50, while the Nasdaq composite index dropped 1.51, or 0.07 percent, to 2,121.47.






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LOCAL


Hi-Shear Technology Corp. dropped 18 percent to $13.30. City National Corp. fell 19.7 percent to $64.25. 1st Centruy Bank N.A. lost 7 percent to $9.05. Guitar Center Inc. fell 4.5 percent to $46.36. Center Financial Corp. lost 4.3 percent to $22.20. Hanmi Financial Corp., which was rated “neutral” in new coverage by analyst Hugh Miller at Sidoti & Company LLC with a 12-month price target of $20, fell 1 percent to $18.75.


Jakks Pacific Inc., which was raised to “buy” from “neutral” by analyst Jeffrey S. Thomison at Hilliard Lyons, gained 6.7 percent to $19.27. Mannkind Corp. rose 5 percent $19.26. Hemacare Corp. gained 4.6 percent to $2.25. Move Inc. (formerly Homestore Inc.), which was rated “average” in new coverage by analyst Timothy Boyd at Caris & Company, rose 4.4 percent to $4.98.

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