Stocks Rise in Face of Tailspin


Major Industry Stocks Still Traveling South

Stocks associated with the kitchen and bath industry traveled South in November 2000, along with the rest of Wall Street, as fourth-quarter earnings warnings dictated the mindset of stock market investors.
The 51 key stocks of building products manufacturers, distributors, retailers and e-commerce enterprises, as tracked in Kitchen & Bath Design News' exclusive monthly Stock Index, fell 135.28 points, or 5.18%, to close the trading period from Nov. 1 to Dec. 1, 2000 at 2474.56. In similar fashion, the Dow Jones Industrial Average ended the month-long session down 525.93 points, or 4.83%, to 10373.54, while the Nasdaq Composite tumbled 688.10 points, or 20.64%, to 2645.29 (see Market Diary, below).

Of the 51 stocks tracked by K&BDN, declining issues edged advancing issues by a 27-23 count, while one stock remained unchanged. Thirty-six of the stocks dropped to a new annual low, while only six rose to a new annual high.
Top gainers for the period included board products suppliers Willamette Industries and Temple-Inland, as well as software manufacturer Autodesk, Inc. Major losing stocks included Armstrong World Industries,, Lowes Co. and Home Depot.