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Home > BizTimes Daily > Archives > November 14, 2008
Stocks nosedive after Thursday's rally
Published November 14, 2008 - BizTimes Daily
The stock market this morning spiked the momentary gains from Thursday. The Dow Jones Industrial Average, which went on a 900-point mood swing before closing up 552.59 points Thursday, promptly fell by more than 300 points this morning. The market reacted to more negative news from the technology and retail sectors today. Wal-Mart Stores Inc. warned of lower earnings, and Menomonee Falls-based Kohl's Corp. reported Thursday at its third quarter net income sank to $160.2 million, or 52 cents per share, from $194.0 million, or 61 cents per share, in the same period a year ago.
The BizTimes Stock Index partook in Thursday's rally, gaining 7.17 points to close at 92.01. However, most local stocks also gave back those gains today. The largest local decliners this morning were Harley-Davidson Inc. (down $2.06 to $16.12), Brady Corp. (down $1.81 to $25.06) and Strattec Security Corp. (down $1.77 to $17.34). The largest local gainers this morning were Waterstone Financial Inc. (up 14 cents to $6.74) and Orion Energy Systems Inc. (up 7 cents to $3.26).
