|
|
|
In Review
|
Business New Haven
9/8/1997
By: BNH
|
Market volatility through the end of trading on August 22 has not good to Connecticut stocks. Most have surrendered at least some of the gains posted through August 1. Only Connecticut's utilities escaped mostly unscathed, as their relative stability appealed to nervous investors.
General Electric in particular suffered from the general rejection of some of the market's highest flyers. Stocks with the largest market capitalizations, including stars like Gillette and Coca-Cola, fell on investor concerns that they were selling for unsustainably high values.
The biggest losers of the last few weeks, Aetna and Swiss Army Brands, fell for other reasons. Swiss Army Brands reported a loss of 12 cents per share in the second quarter. This result was, however, an improvement over a loss of 13 cents in the first quarter of 1997 and a loss of 49 cents in the second quarter of 1996.
Aetna, on the other hand, reported healthy earnings of $1.27 a share, improving on last year's 85 cents, but investors feared rising health care costs. Over the week ending August 8, Aetna shares plummeted 16 3/8 from 114 to 97 5/8.
|
Go FirstGo PreviousGo
NextGo LastGo
to Index
|
|
