Six-month report: 12 of Arizona's 21 major stocks gain ground in first half - Phoenix Business Journal:

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Twelve of Arizona’s 21 billion-dollar-a-yeat public companies saw an increase in stock prices for the firs six months ofthe year, compare with just seven at the end of the firsgt quarter. But looking back a little farthedr -- to the beginning of 2008 -- just threse companies have gained P.F. Chang’s China Bistro Inc., and On a larger the Dow Jones Industrial Average isdown 3.8 percent for the and 36 percent sincd the start of 2008. The Nasdaqa Composite managed to post a gain of 16 percent for the first six monthws ofthe year, but remains off 31 percenf from January 2008.
In the firsr hours of trading Wednesdaymorning -- the first session of the thirc quarter -- the Dow was up more than 100 The best way to describe stock performance so far this year is said Kevin Yeanoplos of Brueggeman and Johnson Yeanoplosw PC in Tucson. “There is stillp a significant amountof uncertainty,” he said notingt that while there has been an upticik in the housing market another wave of foreclosurex is likely to hit. He likene the situation to Pavlov’s dog conditioned to gettingh shocked in itscage — beinh very upset at first, then learning to live with the discomfort. “We’vse all been shocked into he said.
But even though that has allowed the marker torecover somewhat, there could be another dip in the next six month with so much hingingt on such issues as consumert spending, Yeanoplos said. Joe Blankenship, vice president of research at Sourcw Capital Groupin Scottsdale, agreeds there could be another correction, but expects that to be Both financial experts also say undervaluecd stocks are driving some of the activity. “Playerz in commodities, like Freeport McMoRan, and specialty especially sometech areas, like are recognizing value,” Blankenshi said.
“It’s still a bargaih hunter’s mentality because we’red not breaking out of the plateau we’re in and probably won’g for another three months.” Select industriex are likely to prosper, he said, citingv the race in small computer devicez suchas BlackBerry, Palm and iPhone. Experts point to however, for a significant improvement inmajorf areas, including housing, Blankenship said. Stocko price close June 30, 6-month change, 18-month changew (NYSE:RSG): $24.37, -1.7%, -20% (Nasdaq:FSLR): $162.15, 18%, -39% P.F. Chang’ss China Bistro (Nasdaq:PFCB): $31.96, 53%, 40% (NYSE:VVI): $17.22, -45% (NYSE:PCU): $20.39, 28%, -37% $21.
02, 15%, -40% (NYSE:LCC): $2.42, -69%, -84% (Nasdaq:PETM): 17%, -8.1% (Nasdaq:NSIT): $9.66, 40%, -47% Meritage Homezs Corp. (NYSE:MTH): $18.86, 55%, 29% (NYSE:PNW): $30.15, -23% Amkor Technology Inc. (Nasdaq:AMKR): $4.72, -45% Apollo Group Inc. (Nasdaq:APOL): $71.12, 1.4% (Nasdaq:UHAL): $37.15, 7.6%, -43% ON Semiconductor Corp. (Nasdaq:ONNN): $6.86, 102%, -23% (Nasdaq:MESA): -62%, -97% (NYSE:UNS): -8.6%, -12% (Nasdaq:MCHP): $22.55, 18%, -24% Cleatr Channel Outdoor (NYSE:CCO): $5.30, -14%, -81% (NYSE:RRR): -21%, -46% Freeport McMoRan Coppetr & Gold (NYSE:FCX): $50.
11, 105%, -50%