Jul. 12--The Asbury Park Press/Bloomberg 75 index fell 1.51 percent last week, its third consecutive weekly decline.

The index, made up of 75 companies either headquartered at the Shore or with significant operations in New Jersey, was at 88.80 Friday at 5 p.m., down 1.36 points.

Fifty-seven companies declined and 18 companies advanced.

The index fell to its lowest level since May 1. It is down 7.8 percent since the beginning of the year.

The companies with the biggest percentage declines were:

--Hovnanian Enterprises Inc., $1.91, down 39 cents, or 17 percent;

--Foster Wheeler, $19.32, down $2.67, or 12.1 percent;

--The Macerich Co., $14.96, down $2.04, or 12 percent;

--Jackson Hewitt Tax Service Inc., $5.29, down 66 cents, or 11.1 percent; and

--Opnext Inc., $1.82, down 21 cents, or 10.3 percent.

Several company stocks moved as investment houses issued new ratings.

Foster Wheeler, whose administrative headquarters is in Clinton, was rated "neutral" in new coverage by analyst Mark Levin at Davenport & Co. The Macerich Co., based in Santa Monica, Calif., was rated "hold" in new coverage by analyst Nathan Isbee at Stifel Nicolaus. And Opnext, based in Fremont, Calf., was downgraded to "underweight" from "neutral" by JP Morgan Chase.

The companies with the biggest percentage gains were:

--Investors Bancorp Inc., $9.57, up 47 cents, or 5.16 percent;

--Provident Financial Services Inc., $9.25, up 45 cents, or 5.11 percent;

--Hudson City Bancorp Inc., $13.66, up 54 cents, or 4.12 percent;

--Pepco Holdings Inc., $13.37, up 48 cents, or 3.72 percent; and

--Medco Health Solutions Inc., $47.05, up $1.67, or 3.68 percent.

Investors bid up the stocks of some New Jersey banks in advance of their quarterly earnings reports scheduled to be released by the end of the month.

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