How Are Local Companies Doing In Market Freefall?
BOSTON (CBS) – Of the 150 largest publicly held companies based in Massachusetts, only four of them did not sustain losses in Monday’s stock market freefall.
Kyle Alspach of the Boston Business Journal reports
Altra Holdings was down nearly 38-percent.
Zoll Medical Corp. lost 37-percent and A123 systems dropped 29.4-percent.
60 local companies lost at least 10-percent Monday.
Even companies that saw gains at times during the day — such as Beacon Roofing Supply Inc.— closed down by a significant percentage. Beacon Roofing fell 4.1 percent on Monday, despite reporting record sales for its recent quarter during the day.
Some of the companies that started the morning down the furthest staged recoveries through the course of the trading day: LeMaitre Vascular began the trading day down 9.8 percent, but rallied to close up 2.45 percent – the day’s best performer on the BBJ 150.
Cabot Corp. crawled back up to a 3.8 percent loss on the day.
Axcelis Technologies, Cynosure and Network Engines were among the worst starters Monday morning; both worsened – but not as much as other stocks that tanked over the course of the day.