May 17--The Asbury Park Press/Bloomberg 75 index fell 5.74 percent last week after some companies reported disappointing earnings.

The index, made up of 75 companies that are either headquartered at the Shore or have significant operations in New Jersey, was at 88.83 Friday at 5 p.m., down 5.41 points.

Sixty-two companies declined and 13 companies advanced.

The index has fallen 7.7 percent since the beginning of the year.

The companies with the biggest percentage declines were: Great Atlantic & Pacific Tea Co., $3.87, down $2.83, or 42.2 percent; A.C. Moore Arts & Crafts Inc., $2.45, down 94 cents, or 27.7 percent; Bank of America Corp., $10.67, down $3.50, or 24.7 percent; The Macerich Co., $15.02, down $4.28, or 22.2 percent; and PNC Financial Services Group Inc., $41.79, down $11.29, or 21.3 percent.

Montvale-based Great Atlantic & Pacific Tea Co., a supermarket operator, reported a net loss of $11.1 million, or $4.15 a share, for the quarter ended Feb. 28, compared with a net loss of $61.5 million, or $1.73 a share, for the same quarter last year.

Berlin-based A.C. Moore, a crafts retailer, reported a net loss of $4.3 million, or 21 cents a share, for the quarter ended April 4, compared with a net loss of 1.8 million, or 9 cents a share, for the same quarter a year ago.

Executives from both companies cited a challenging economic environment.

The companies with the biggest percentage gains were: Pfizer Inc., $15.01, up 61 cents, or 4.24 percent; Becton Dickinson & Co., $65.16, up $2.34, or 3.72 percent; Colgate-Palmolive Co., $63.49, up $1.67, or 2.70 percent; Merck & Co. Inc., $25.47, up 65 cents, or 2.62 percent; and Cognizant Technology Solutions Corp., $25.76, up 57 cents, or 2.26 percent.

New York-based Pfizer, a drugmaker, rose after a Credit Suisse analyst said in a report that the company may increase its dividend next year and look to lower financing costs for its purchase of Wyeth.

And Readington-based Merck, also a drugmaker, said it entered into three credit facilities totaling as much as $7 billion to help finance its purchase of rival Schering-Plough Corp.

-----

To see more of the Asbury Park Press, or to subscribe to the newspaper, go to http://www.app.com

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

Distributed by McClatchy-Tribune Information Services.

For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

GAP, ACMR, BAC, 8648, MAC, PNC, PFE, BDX, CL, MRK, CTSH, SGP,

A service of YellowBrix, Inc.