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Amgen climbs, Nike stumbles
(MONEY Magazine) – The MONEY 30, an index of blue-chip growth stocks at the forefront of today's economy, rose just 0.3%--to 4293--from Aug. 15 to Sept. 8 (January 1996 = 1000). Biotech giant Amgen was the best performer, gaining 8.7% for the period. Investors were betting that Amgen would win its patent infringement battle against rival Transkaryotic Therapies over the blockbuster anemia drug Epogen. Another top gainer was Sun Microsystems, which climbed 8.1%. The biggest losers for the month were Nike and McDonald's. Nike fell nearly 19% shortly after it announced plans to launch a division devoted to selling athletic gear for women. Some analysts blamed the decline on the overall sluggishness in U.S. retail sales. McDonald's dropped nearly 12% after its vice chairman filed to sell about $1.6 million worth of shares. Microsoft, in the midst of its antitrust battle, remains the index's biggest loser of the year, down almost 41% since Jan. 1. --ERICA GARCIA |
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