Investor's Business Daily, August 20th, 2007
NYSE stocks started higher then fell into the red by midday, but pared their losses to end mostly higher Monday.
The NYSE composite climbed 0.1% and the Dow industrials 0.3%. The S&P 500 finished flat. Volume was lighter.
Koppers Holdings KOP rose 2.38 to a new high of 35.40, clearing a two-month, V-shaped base on twice normal trade. The carbon compounds maker recently stepped up second-quarter earnings growth to 257%, though analysts expect a slowdown to 5% in the third quarter.
Alliant Techsystems ATK climbed 2.42 to 104.23 on double usual volume after finding support at its 50-day moving average. The ammunition maker has gotten a boost from small-caliber weapons training in Iraq, as well as homeland security training for state and local police.
A couple of other defense-related names rose also. L3 Communications LLL ended up 3.90 at 97.07, rebounding near its 50-day line on nearly twice typical action. Reconnaissance equipment maker Edo EDO added 1.31 to a new high of 39.85 on above-average trade.
Some Chinese stocks gained on above-average turnover after the Shanghai composite surged 5.3%.
China Mobile CHL added 1.23 to 56.34, bouncing off its 50-day line. China Life Insurance LFC showed similar action, picking up 2.26 to 58.86. Solar cell maker Trina Solar TSL edged up 1.41 to 47.17 and solar wafer maker LDK Solar LDK 1.25 to 42.50.
On the downside, Boston Beer SAM tanked 2.70, or 6%, to 44.20 on double usual volume. The maker of Samuel Adams beer is 8% off its Friday record high. It recently missed second-quarter earnings expectations.
