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N.J. Index Finally Has a Good Week
Sunday, March 15, 2009 12:25 PM


(Source: Asbury Park Press)trackingBy Michael L. Diamond, Asbury Park Press, N.J.

Mar. 15--The Asbury Park Press/Bloomberg 75 index gained 9.86 percent last week, snapping a four-week losing streak.

The index, made up of 75 companies either headquartered at the Shore or with significant operations in New Jersey, was at 78.79 Friday at 5 p.m., up 7.07 points.

The companies with the biggest percentage gains were: Hovnanian Enterprises Inc., $1.10 up 52 cents, or 89.7 percent; Bank of America Corp., $5.76, up $2.62, or 83.4 percent; Prudential Financial Inc., $18.76, up $7.38, or 64.9 percent; Wells Fargo & Co., $13.94, up $5.33, or 61.9 percent; and PNC Financial Services Inc., $28.15, up $9.64, or 52.1 percent.

Red Bank-based Hovnanian, New Jersey's biggest home builder, rose after Chief Executive Officer Ara Hovnanian said that in February the company had its best sales in six months.

The companies with the biggest percentage declines were: Six Flags Inc., 16 cents, down 5 cents, or 23.8 percent; FirstEnergy Corp., $35.79, down $1.75, or 4.66 percent; Gannett Co. Inc., owner of the Asbury Park Press, $2.14, down 6 cents, or 2.73 percent; AC Moore Arts & Crafts Inc., $1.26, down 3 cents, or 2.33 percent; and Commvault Systems Inc., $10.44, down 7 cents, or 0.67 percent.

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Copyright (c) 2009, Asbury Park Press, N.J.

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