Stock Report: May 26-30
US stocks post a second consecutive monthly gain despite weaker consumer spending
US stocks rose overall this week - closing out the month of May with a second straight monthly advance. Technology companies did well and shares in energy companies increased on high oil prices, although retailers were brought down by weaker consumer spending.
The S&P 500 closed at 1,400.38 - a monthly gain of 1.1 per cent. The Down Jones Industrial Average ended the week at 12,638.32, which reduced its monthly loss to 1.4 per cent. NASDAQ, meanwhile, closed at 2,522.66 - a 3.2 per cent increase for the week, and a 4.6 per cent increase for the month.
None of the companies tracked in our weekly report announced earnings this week, although Square Enix reported fiscal year 2007 profits of JPY 9.2 billion (USD 88.5 million) - down 20.9 per cent from the prior year.
There was still no movement on EA's proposed acquisition of Take-Two - which was extended to June 16 - nor word of a suitor for SCi.
Selected stock movements in the past week (at time of writing):
| Sony | 48.05 - 50.33 | +4.75% |
|---|---|---|
| THQ | 20.5 - 21.45 | +4.63% |
| EA | 48.34 - 50.2 | +3.85% |
| Activision | 32.84 - 33.75 | +2.77% |
| Midway | 2.14 - 2.18 | +1.87% |
| Infogrames | 11.65 - 11.85 | +1.72% |
| Microsoft | 28.05 - 28.32 | +0.96% |
| Sega | 10.79 - 10.85 | +0.56% |
| Take-Two | 26.92 - 27.07 | +0.56% |
| Namco Bandai | 13.69 - 13.72 | +0.22% |
| Nintendo | 586 - 580 | -1.02% |
| Konami | 37.58 - 36.89 | -1.84% |
| Ubisoft | 63.92 - 62.30 | -2.53% |
| SCi | 51.50 - 49.50 | -3.88% |
Please note that stock prices on differing markets may be influenced by separate local events, and shouldn't necessarily be compared like for like. This list is not a ranking of total market valuation; selected stocks only. Prices given in local exchange currency, except Tokyo stocks, which are converted into USD.