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Article: NOWHERE TO HIDE; Few local stocks dodged selling stampede in the first quarter; Navistar, Middleby are bright spots.
- Article from:
- Crain's Chicago Business
- Article date:
- April 20, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: H. LEE MURPHY
At least 10 Chicago-area companies lost two-thirds of their market value or more in the first three months of the year in a sell-off that was remarkable for the breadth of its carnage.
Companies ranging from menswear specialist Hartmarx Corp. and ethanol maker Aventine Renewable Energy Holdings Inc. to condominium lender Corus Bankshares Inc. and dot-com travel broker Orbitz Worldwide Inc. all saw massive slumps in their stock prices.
"In the first quarter, investors were aggressively selling almost any company with poor fundamentals,'' says James Oberweis, president of Lisle-based Oberweis Asset Management Inc., whose own ...
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