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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
May 24, 2001
Page
5
The Dow Jones Industrial Average fell on May 23 2001 with a 135 point drop to 11105 amid ongoing market volatility. Investors watched tech shares as trading volume remained active and sentiment stayed cautious.
Goody's Family Clothing Inc reports a 1.7 million loss for the first quarter ending May 5, 2001, with 5 cent per share loss on 263.3 million in revenue, a 5.4 percent sales drop and 12.6 percent decline in comparable store sales. plans to add 14 stores and close two this year while forecasts no improvement until the second half.
Stocks slipped as investors booked profits after a sharp rally since April. The Nasdaq dropped 69.12 to 2244.73 while the Dow fell 151.73 to 11105.51 and the S&P 500 declined 19.62 to 1289.76. Analysts cited profit taking and a high market level as key factors.
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