Saturday, March 24, 2007
Local stocks recovering after hits last month
The entire rail sector was up on the day Friday, and Norfolk Southern stock jumped 4.23 percent.
It was a good week for stocks, both nationally and locally.
The Dow Jones industrial average climbed almost 3.1 percent -- to 12,481.01 from 12,110.41. In Southwest Virginia, most stocks of local interest gained over the past five days, although not all have yet reached the point they were before the Feb. 27 market "hiccup."
Norfolk Southern Corp. (NSC) was up $3.23 for the week, including a $2.11, 4.23 percent jump Friday alone; the entire rail sector was up on the day, perhaps influenced by positive comments from CSX Corp. chief executive Michael Ward. Norfolk Southern stock closed at $51.97 -- 4.6 percent above where it was before February's drop.
Advance Auto Parts (AAP) also had a good week, closing Friday at $39.35, up 1.6 percent since Monday's opening and 62 cents above its Feb. 26 close. The past week marked the first time Advance Auto's stock closed above it's pre-hiccup mark.
Fiber-optic maker Optical Cable Corp.'s (OCCF) week saw it close at $5.09, up 3 cents (less than half a percent) on the week. That wasn't near its Feb. 26 close of $5.60, although the stock had been as high as $5.45 a week ago before dropping Monday.
Luna Innovations (LUNA) saw its stock price hit by the double whammy of the market drop and the March 6 announcement that it anticipated weaker-than-expected sales and earnings for the year. It closed the week at $3.15, up 6 cents but well below its $3.80 price on Feb. 26.
Three other local stocks have moved very little.
New River Pharmaceuticals has remained virtually unchanged -- hovering between $63 and $64 -- since Shire plc of Great Britain made a $64 per share offer on Feb. 20.
The stock price for Stanley Furniture Co. (STLY) has been between $20 and $22 since late 2006, after falling from a 10-year high of $29.25 in March of that year.
And RGC Resources (RGCO), parent company of Roanoke Gas, has fluctuated very little since 2004 and was not affected by the market on Feb. 27.




