Stockwatch: Local stocks get hammered

Stocks in The Northern Colorado Business Report Stock Index lost their shine for the month ended July 15.

As a result of a rather large selloff last month, the NCBR Stock Index dropped 119.85 points, or 9 percent, before coming to rest at 1212.13.

In our index, decliners towered over advancers by a 67-to-13 count, and 16 stocks reached new 52-week highs vs. 12 that dropped to new 52-week

lows.

Hewlett-Packard Co. dropped 22.50 points, or 22.73 percent, to close at $76.50, making it the largest dollar loser in our index. The company warned

that the growth of orders had slowed throughout all its businesses and geographic areas in the first two months of the quarter ending July 31.

In addition, Hewlett-Packard said it would stop manufacturing disk drives and would take a $150 million pretax charge in the first quarter.

Avert Inc. said that it will increase prices for most of its products by 4 percent to 10 percent. The company attributes the price hikes to higher costs

associated with acquiring current and accurate data. Shares for the information-services company slid 0.25 points, or 4.35 percent, to close at $5.50
for the month.

Electronic Fab Technology Corp. named Jack Calderon as president and chief executive officer, effective Aug. 5. Gerry Reid, Electronic Fab’s
current president and CEO, will remain chairman of the board. Shares for Electronic Fab Technology dipped 0.25 points, or 6.25 percent, to close at
$3.75.

Last month, Oppenheimer & Co. initiated coverage of Rock Bottom Restaurants with a “buy” rating. Overall for the month, shares for Rock Bottom
Restaurants were down 2.25 points, or 16.98 percent, to close at $11.