Up and Down: Beyond Financial Stocks
It was a tough week for stocks last week, with the S&P 500 index and our Post-Bloomberg index both falling about 3 percent. Tom Heath covered the falls in some of the area's financial stocks; here are a few more movers.
*GSE Systems (GVP) of Baltimore gained 12 percent last week, closing Friday at $9.22. Shares rose about 8 percent on Tuesday, the day the company announced a deal for a Japanese company to build two nuclear simulators.
*In a week that Friedman, Billings Ramsey Group shares fell, shares of FBR Capital Markets gained 11 percent to close at $5.53. Shares rose 10 percent on Friday, the day the Arlington firm said Stephen C. Chick and C. Patrick Scholes have joined the firm's equity research group as senior vice president and vice president.
*Vanda Pharmaceuticals of Rockville topped the list of losers for the week, falling 41 percent, to $3.74. They were hurt when the company said Thursday that an insomnia drug didn't show long-term benefit over a placebo, though it did meet its goals. Shares fell 15.8 percent that day then 11 percent on Friday.
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