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Article: LOCAL COMPANIES GAIN BARELY; ALLIANCE BANK MOVES IN; PENN TRAFFIC STOPS TRADING, DROPS OUT.(SERIES: Syracuse Portfolio)(Business)
- Article from:
- The Post-Standard (Syracuse, NY)
- Article date:
- July 17, 2005
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Byline: Dee Klees Staff writer
Inevitable change in the Syracuse Portfolio arrived this quarter, as the index of 15 stocks of local interest began the year with two companies in bankruptcy protection and one drastically reorganizing.
Despite those bleak prospects, the portfolio managed a gain in the second quarter. It may have been 0.3 percent of a gain, and far off the gains of broad indexes, but it's better than the 2 percent drop the Dow Jones Industrial Average took in the quarter.
Unlike the Dow, which tracks 30 major industrial stocks, the portfolio is not weighted toward heavy industry and manufacturing. It's designed to be a diverse ...