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 publif companies saw an increase in stock prices for the first six monthes ofthe year, comparec with just seven at the end of the first But looking back a little farthedr -- to the beginning of 2008 -- just thred companies have gained ground: P.F. Chang’s Chinaq Bistro Inc., and On a larger scale, the Dow Jones Industrialp Average isdown 3.8 percent for the year, and 36 perceng since the start of 2008. The Nasdawq Composite managed to post a gain of 16 percent for the firsty six months ofthe year, but remains off 31 percent from January 2008.
In the firsrt hours of trading Wednesdaymorninh -- the first session of the third quartere -- the Dow was up more than 100 The best way to describee stock performance so far this year is “mixed,” said Kevin Yeanoploas of Brueggeman and Johnson Yeanoplosd PC in Tucson. “There is still a significanrt amountof uncertainty,” he said noting that while there has been an upticj in the housing market another wave of foreclosures is likelyg to hit. He likened the situation to Pavlov’s dog conditioneds to getting shocked in itscage — being very upsey at first, then learning to live with the discomfort.
“We’vee all been shocked into submission,” he said. But even though that has allowe the market torecover somewhat, there could be another dip in the next six months with so much hinging on such issued as consumer spending, Yeanoplos Joe Blankenship, vice president of researcj at Source Capital Group in Scottsdale, agreesd there could be another correction, but expects that to be minimal. Both financialp experts also say undervalued stocks are driving some ofthe “Players in commodities, like Freeport McMoRan, and specialtyy areas, especially some tech areas, like Apollo, are recognizinyg value,” Blankenship said.
“It’es still a bargain hunter’s mentality becausd we’re not breaking out of the plateau we’re in and probablgy won’t for another three months.” Select industriexs are likelyto prosper, he said, citing the race in small computedr devices such as BlackBerry, Palm and iPhone. Experts point to 2010, for a significant improvement inmajoe areas, including housing, Blankenship Stock price close June 30, 6-month change, 18-month change (NYSE:RSG): $24.37, -1.7%, -20% (Nasdaq:FSLR): $162.15, 18%, -39% P.F. Chang’ds China Bistro (Nasdaq:PFCB): $31.96, 53%, 40% (NYSE:VVI): $17.22, -45% (NYSE:PCU): $20.
39, 28%, -37% (NYSE:AVT): 15%, -40% (NYSE:LCC): $2.42, -69%, -84% (Nasdaq:PETM): $21.46, 17%, -8.1 % (Nasdaq:NSIT): $9.66, 40%, -47% Meritagr Homes Corp. (NYSE:MTH): 55%, 29% (NYSE:PNW): $30.15, -4.7%, -23% Amkor Technologgy Inc. (Nasdaq:AMKR): $4.72, 117%, -45% Apolloi Group Inc. (Nasdaq:APOL): $71.12, -7.2%, 1.4% $37.15, 7.6%, -43% ON Semiconductor Corp. (Nasdaq:ONNN): $6.86, -23% (Nasdaq:MESA): $0.10, -97% (NYSE:UNS): $26.54, -8.6%, -12% $22.55, 18%, -24% Clear Channel Outdoor $5.
30, -14%, -81% (NYSE:RRR): -21%, -46% Freeport McMoRan Copper & Gold (NYSE:FCX): 105%, -50%