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
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, Homestore.com, Lowes Co. and Home Depot.