Robert, this explains what went on in the NW last week.
>Biotechs dominated Northwest gainers. They held nine of top 13 positions, and 11 of the top 20. At the top was a tiny Portland company, Oxis International. The stock rose $2.25, or 90 percent, to $4.75. Oxis named a chief executive and said it would sell its nontherapeutic assets.
Targeted Genetics was second. The Seattle biotech leaped $10.75, or 84 percent, to $23.50. It reached agreement to work on a vaccine for Acquired Immune Deficiency Syndrome.
Another high-rising biotech was Immunex, up $45.875, or 31 percent, to $195. In announcing a 3-for-1 stock split, it became one of the few companies ever to have three splits in less than a year.
Cracking into the top 10 was Microvision. Interest in the Seattle company's direct-to-retina imaging systems has skyrocketed. Even without news this week, the shares galloped $16.375, or 43 percent, to $54.375.
Two Seattle companies that provide Internet security products saw their shares leap. InterNap Network Services gained $23.50, or 41 percent, to $81.125. WatchGuard Technologies picked up $9.75, or 19 percent, to $60.50.
A new issue, Sunhawk.com, emerged at $12 a share and closed up $10, or 83 percent, at $22. The Seattle company sells digital sheet music over the Internet.
The region's two Dow industrials stocks struggled. Microsoft, getting closer to the hangman in the feds' monopoly case against the Redmond software giant, fell $4.563, or 5 percent, to $95.375. Boeing, faced with an engineers' strike, skidded $3.563, or 9 percent, to $36.50.
Among downers, Nike continued its retreat, dropping $5.875, or 17 percent, to $28.125. A week ago, it scaled back expectations.
With hackers assaulting Web sites, dot-coms turned defensive. Amazon.com slid $11.188, or 15 percent, to $65. At least four other dot-coms retreated 9 percent or more, including drugstore.com, off $2.875, or 13 percent, to $20.
Retailers, supposedly foretellers of market trouble, were weak. Costco Wholesale, a premier retailer based in Issaquah, broke a seven-session losing streak yesterday but still was down $6.75, or 13 percent, to $44.938 for the week. Cutter & Buck, part apparel retailer, part wholesaler, was right behind, off $1.438, or 13 percent, to $9.875. |
