|
|
Article: Nicor Turns in Worst Performance in Ugly Week for Energy.(stock prices fall)(Brief Article)(Statistical Data Included)
- Article from:
- The Oil Daily
- Article date:
- July 23, 2002
CopyrightCOPYRIGHT 2002 Energy Intelligence Group. 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)
|
Nicor Turns in Worst Performance in Ugly Week for Energy Stocks
Shares of gas utility Nicor plummeted to 10-year lows on Friday as the company became the latest corporation to disclose accounting irregularities, pulling down shares of other energy companies in the process, according to data compiled by analyst John S. Herold.
Amid poor second quarter earnings reports and overall corporate bad news, the equity markets were pounded last week, with the S&P 500 index of blue chips falling 8%, the Dow Jones Industrial average dropping 7.7%, and the Nasdaq losing 4%.
For the week, Nicor shares fell 45.6%, while other energy merchants also dropped. ...