As the Dow Jones Industrial Average staged a mild comeback Thursday, most of Orange County's 100 largest public companies followed suit. The Dow average gained 91.5 points to finish 4.9% above Wednesday's close, and the county-based companies' shares gained an average of 4.7% for the day--their first overall gain in the last six trading days.
The price of a composite share of the local companies' common stock rose to $7.09 from $6.77 Wednesday. Although the composite price gained, it was still down 37.2% from the Oct. 2 average of $11.30 per share.
Of the 100 local stocks, 60 gained in Thursday's trading, while 23 lost and 17 finished the day unchanged. In addition, 21 of the 100 stocks closed at their lowest prices of the past 52 weeks.
Ultrasystems stock did a dramatic turnaround, going from Wednesday's No. 1 percentage loser to Thursday's No. 1 gainer as it rose $1.675 per share to close at $5.875, up 38.2%.
Wespercorp took an equally flashy turn, but in the opposite direction. It was Wednesday's leading local gainer and Thursday's biggest loser. Wespercorp common stock dropped to 37 1/2 cents per share Thursday, down 25 cents--or 40%--for the day.