Basic Materials Sector Wrap

Published May 03, 2012

| FOXBusiness

During trading today, the S&P 500 dropped 0.8%, and the Basic Materials sector (XLB) showed little change.

The ETF, as a proxy for the sector, tracked closer to the overall market today than over the past month. Entering today's trading, XLB was down 2.5% over the last thirty trading days. The S&P 500, in comparison, went up -1.4%.

Newport Corporation (NEWP) was a major loser in the sector, falling 13.3% (-$2.30) to close at $14.99 with 1.7 million shares moving. The stock traded between $14.26 and $15.36. The stock is down over the last three months, having fallen $4.43 (-22.8%) from $19.42 on February 6, 2012.

Schweitzer-Mauduit International (SWM) rose 3.3% to close at $69.82, cross its 50-day moving average of $68.22 and 200-day moving average of $67.64. Albany International (AIN) declined 13.1% to close at $21.05, moving below its 50-day moving average of $23.50 and 200-day moving average of $23.23.

OM Group (OMG) rose 5.4% to close at $25.03, approaching its 50-day moving average of $25.68. It has also moved closer to its 200-day moving average of $26.21. Balchem Corporation (BBL) fell 3.7% to close at $29.57, moving closer to its 50-day moving average of $28.94. Also, the stock moved closer to its 200-day moving average of $62.43.

CIRCOR International (CIR) was a major gainer in the sector, rising 8.4% (+$2.50) to close at $32.30 with 415,167 shares moving. The stock traded in a range of $30.35 to $32.43. The stock has fallen over the last three months, dropping $9.96 (-23.6%) from $42.26 on February 6, 2012. Similarly, Arabian American Development Company (ARSD) gained today, increasing 58 cents (+6.2%) to close at $10.

Gold Reserve (GRZ) hit a new 52-week high today, reaching $4.64 to top the previous high of $4.40.

Goldcorp (GG) hit a new 52-week low today, hitting $35.82 to fall below the previous low of $37.77.

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