Investor's Business Daily, June 26th, 2007
The Nasdaq slipped 0.1% Tuesday, its third straight decline. It pared a bit of its loss after bouncing off its 50-day moving average line.
Volume inched up from Monday's level.
Synalloy SYNL dropped 2.18 to 37.04 on nearly twice its average trade. That sent the piping systems maker down for the sixth straight session and further south of its 50-day line.
Spartan Motors SPAR also pulled further from its 50-day line. Shares fell 0.94 to 27.23 on about double average turnover. The vehicle chassis maker's Accumulation/Distribution Rating has slipped to D-.
Apple AAPL soured 2.69 to 119.65. The company, along with AT&T T, unveiled service plans for the upcoming iPhone. Monthly service plans will range from $59.99 to $99.99.
Force Protection FRPT shed 1.76, or 7%, to 21.70. The armored vehicle maker's Accumulation/Distribution Rating has dropped to E from a B at the end of May.
Meanwhile, FCStone Group FCSX gave up 2.42 to close at 55 on above-average trade. The risk manager has finished lower in four of the past five sessions but remains above a 49.10 buy point.
On the upside, Ventana Medical Systems VMSI gapped up, bolting 24.69, or 48%, to 76.43. Swiss drug maker Roche offered $3 billion for the company. Ariz.-based Ventana makes slide-staining systems used for diagnosing cancer and other diseases.
Life Partners Holdings LPHI gained 2.63 to 39.88 on nearly triple average trade as it continued a steep ascent.
Comtech Telecom CMTL gapped up, rallying 1.44 to 45.04 on twice its average trade. The stock found support at its 10-week line this month and may be forming a new base. The maker of satellite networking systems has recently announced a string of new orders. Earlier this month it reported a 115% jump in Q3 earnings.
TBS International TBSI cruised 1.23, or 5%, to a record high of 27.44. The provider of tanker transportation services has more than doubled since rising to new highs in April.
First Solar FSLR climbed 1.92 to an all-time high of 88.27 as several solar energy stocks moved higher. JA Solar Holdings JASO added 1.03 to 31.40 on brisk turnover. The stock is trading at new highs after clearing an irregular base with a 29.19 buy point.
