Up and Down: Provident, Jos. A. Bank, Ciena, Chindex

*Local stocks fell 2 percent last week, a short trading week, when the S&P 500 lost 3.2 percent.



*Shares of Provident Bankshares (PBKS) rose 13 percent last week, closing at $8.70. Shares hit their 52-week low of $4.52 July 15 and have been rising since an analyst called the Baltimore bank a takeover target. Shares are down 70 percent in the past 52 weeks.

*Shares of Jos. A. Bank Clothiers (JOSB) of Hampstead, Md., rose 12 percent last week, to $29.22. The company said Wednesday that second-quarter profit rose 8 percent and that it was cutting back on store openings next year. According to an article on Forbes.com, 92 percent of shares that are available to be traded in Jos. A. Bank are short.

*Alliance Bankshares (ABVA) of Chantilly saw its shares close up 10 percent for the week, at $3.86 - they hit that point on Tuesday, dropped Wednesday and Thursday, and regained that value on Friday. Trading volume was light.

*Last week's biggest loser was Ciena (CIEN), which lost 27 percent of its value last week. Most of the decline came Thursday, when the company reported a lower quarterly profit and issued a weaker-than-expected outlook. Shares closed Friday at $12.64. The Linthicum company also made the list of top three-month and 52-week losers, dropping 55 and 67 percent of its value in those time periods.

*Massey Energy (MEE) of Richmond lost 18 percent of its market value last week, closing at $53.94, and Foundation Coal (FCL) of Linthicum Heights lost 14 percent, closing at $50.74. Massey warned investors Wednesday that prices and production are at the lower end of projections. The coal industry has been hit by falling oil prices.



*Shares of Chindex International (CHDX) of Bethesda are down 55 percent in the past three months. They closed Friday at $10.50, down 10 percent for the week. Shares hit their 52-week low of $10.35 earlier that day.

By Terri Rupar  |  September 8, 2008; 12:00 PM ET  | Category:  Wall Street
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