February 1, 1998

Losers outnumber gainers as local index ends lower

The Boulder County Stock Index continued to head in a southerly direction, as the financial crisis in Asia threatens to crimp U.S. corporate profits. When the monthly trading session had come to an end, our local selection of stocks had fallen 10.14 points, or -0.34 percent, to close the trading period at 2968.21.

In comparison, the Dow Jones Industrial Average continued its volatility as it slipped 53.61 point, losing -0.68 percent of its value, before halting at 7784.69.

Locally, losers outgunned gainers by a 29-to-26 count.

Shares of Exabyte moved lower despite the company announcing that it has signed an agreement with Computer Network Technology, which runs through 1998 and has a potential value of more than $500,000.

Exabyte’s stock price slipped -0.31 percent to close the month at a price of $7.25 per share. The two companies signed an agreement that allows Computer Network Technology to connect the CNT UltraNet Storage Multiplexer to the Exabyte Storage Automation Libraries. This new solution offers customers additional storage connectivity options and provides a cost-effective storage solution by allowing multiple servers to connect to a single tape library, thus eliminating the need for a dedicated storage device on each server.

Shares Celestial Seasonings moved higher during last month’s trading, after the company’s rating was increased. Celestial Seasonings’ stock price climbed $4.86 per share, or 16.46 percent, to close the monthly trading session at a price of $34.50. The tea producers rating was increase to attractive from market performer by Adams Harkness & Hill.

The stock of Corporate Express Inc. fell after the company stated that its delivery business was not progressing as quickly as it had anticipated, analysts said. Shares of Corporate Express slipped -39.20 percent, during the period, to close at a price of $8.09 per share. Later in the month, however, the company’s stock price improved as Corporate Express announced a stock buyback program.

The Boulder County Stock Index continued to head in a southerly direction, as the financial crisis in Asia threatens to crimp U.S. corporate profits. When the monthly trading session had come to an end, our local selection of stocks had fallen 10.14 points, or -0.34 percent, to close the trading period at 2968.21.

In comparison, the Dow Jones Industrial Average continued its volatility as it slipped 53.61 point, losing -0.68 percent of its value, before halting at 7784.69.

Locally, losers outgunned gainers by a 29-to-26 count.

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