Many Local Firms Make Market Comeback
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The stocks of many Orange County companies were pulled upward Wednesday as Wall Street began struggling out of the hole that was dug Monday by panicky investors.
The shares of just 30 of the county’s 100 largest publicly traded firms lost value in Wednesday’s trading--contrasted with 91 losers on Monday. And 54 local stocks posted gains, while the remaining 16 were unchanged.
Ten local stocks even ended Wednesday fully recovered from Monday’s debacle, including AFG Industries, an Irvine-based glass maker that started a buyback campaign Tuesday. Its stock closed at $26.625 a share Wednesday, up $3.75 for the day and $4.75 above Monday’s close. The other winners were Laser Precision, PacificCare, Petrominerals, Scan-Tron, Standard Pacific, Startel, Systonetics, Varco International and VLI.
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