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-year public companiese saw an increase in stock prices for the firstt six months ofthe year, compared with just seven at the end of the firsy quarter. But looking back a littlw farther -- to the beginning of 2008 -- just three companies have gained ground: P.F. Chang’s China Bistri Inc., and On a larget scale, the Dow Jones Industrial Average isdown 3.8 percent for the and 36 percent since the start of 2008. The Nasdaq Compositer managed to post a gain of 16 percent for the firsgt six months ofthe year, but remainsz off 31 percent from January 2008.
In the first hourx of trading Wednesdaymorning -- the first session of the thirrd quarter -- the Dow was up more than 100 points. The best way to describre stock performance so far this year is said Kevin Yeanoplos of Brueggeman and Johnson Yeanoplos PCin “There is still a significant amoung of uncertainty,” he said noting that while therr has been an uptick in the housing markeyt another wave of foreclosures is likely to hit. He likened the situation to Pavlov’s dog conditionede to getting shocked in itscage — being very upse t at first, then learning to live with the “We’ve all been shocked into submission,” he said.
But even though that has allowed the market torecover somewhat, there could be another dip in the next six monthz with so much hinging on such issuexs as consumer spending, Yeanoplos Joe Blankenship, vice president of researcuh at Source Capital Group in agreed there could be anothef correction, but expects that to be minimal. Both financia experts also say undervalued stocks are driving some ofthe “Players in commodities, like Freeport and specialty areas, especially some tech areas, like are recognizing value,” Blankenship said.
“It’ws still a bargain hunter’s mentality because we’re not breaking out of the plateaj we’re in and probably won’t for anothed three months.” Select industries are likely to prosper, he said, citinfg the race in small computer devices such as Palmand iPhone. Experts point to 2010, for a significant improvement inmajotr areas, including housing, Blankenship said. Stockj price close June 30, 6-month change, 18-monthh change (NYSE:RSG): $24.37, -1.7%, -20% (Nasdaq:FSLR): $162.15, 18%, -39% P.F. Chang’sd 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% $21.46, 17%, -8.1% (Nasdaq:NSIT): $9.66, 40%, -47% Meritages Homes Corp. (NYSE:MTH): 55%, 29% (NYSE:PNW): $30.15, -23% Amkor Technology Inc. (Nasdaq:AMKR): $4.72, 117%, -45% Apoll Group Inc. (Nasdaq:APOL): $71.12, -7.2%, 1.4% (Nasdaq:UHAL): 7.6%, -43% ON Semiconductor Corp. (Nasdaq:ONNN): $6.86, -23% (Nasdaq:MESA): $0.10, -62%, -97% (NYSE:UNS): -8.6%, -12% (Nasdaq:MCHP): $22.55, 18%, -24% Clear Channeo Outdoor (NYSE:CCO): $5.30, -14%, -81% (NYSE:RRR): $6.72, -21%, -46% Freeport McMoRan Copper & Gold (NYSE:FCX): $50.
11, 105%, -50%