|
|
|
Blood in The Pool
|
Business New Haven
9/7/1998
By: BNH
|
Connecticut companies have suffered mightily in the late August market slide. AETNA (NYSE: AET) continued a major decline from its 52 week high that nearly touching a 107, and now to 63, a portfolio busting 40% plus drop. The stocks of the local banking industry is in a near free fall in spite of a robust Connecticut and New England economy. Peoples Bank (PBCT: NASDAQ), stock has tanked in the past year and is down nearly 21 points from its high of 41 1/2. BankBoston (NYSE: BKB) tumbled on fear of foreign loan problems, down 21% in the past two weeks alone, off a high of 59 1/16 to 37 1/16. First Union (NYSE: FTU) down from just under 66 to around 50 and Webster Bank (NASDAQ: WBST) was down to 22 1/8 on September 2 from a high of 37 rounding out the rout on banks.
Even without exposure to foreign markets or any market for that matter the region's biotech/ biomedicals continued their secular decline. The newly minted Curagen (NASDAQ: CRGN) was at 5 1/2 on the 2nd off its January IPO price of more than twice that. Neurogen (NASDAQ: NRGN) rolled to a new yearly low of 10 9/16 down from 28 3/4. Alexion (NASDAQ: ALXN) and Novametrix (NASDAQ: NMTX) suffered an 8% and 11% decline respectively in the past two weeks. Even a stock buy back proposal didn't boost the fortunes of Novametrix investors.
|
Go FirstGo PreviousGo
NextGo LastGo
to Index
|
|
