We had a up and down week during the period of 6/23/03 to 6/27/03. However during the week we made some stock selections. Five weeks isn't a lot of time to give an investment, but let's take a look at how these picks have done this past month. (That is what we USUALLY do on weekends around here!)
On June 23, 2003, we picked two stocks: FDCC at $19.18 and FDP at $26.14. Factual Data Corp. (FDCC) has dropped to $17.25 on Friday 8/1/03. FDCC is being acquired by Kroll and we will not be following this stock much longer. In fact, shortly after our selection, Kroll announced its acquisition plans at a below-market price! How about that for bad timing? Anyhow, at $17.25, this represents a $1.93 loss or 10.06% drop.
Fresh Del Monte Produce (FDP) closed Friday, 8/1/03, at $27.67. This is a $1.53 gain or a 5.85% move to the upside.
Biosite (BSTE) was selected when it was trading at $48.15 on 6/25/03. BSTE closed at $42.04 representing a loss of $6.09 or a 12.6% drop. Not too thrilling this first month!
Digital Insight (DGIN) was picked on 6/25/03 at $17.96. Friday, 8/1/03, DGIN closed at $19.86, a gain of $1.90 or a gain of 10.5%.
Bankrate (RATE) was selected on 6/25/03 while trading at $10.40. This probably is one of our best performers...which now may be under pressure due to interest rate concerns....but it still closed on Friday 8/1/03 at $14.39. This represents a nice gain of $3.99 or a gain of 38.3% for this time period.
Biovail (BVF) was picked on 6/26/03 at $49.30. The company unfortunately posted a loss on 7/29/03 due to acquisition costs and the stock price suffered accordingly. The stock closed Friday, 8/1/03 at $38.31 a loss of $10.99 or a drop of 22.3%.
Online Resource Corp (ORCC) was picked on 6/27/03 at $6.17. Currently, as of Friday, 8/1/03, ORCC closed at $5.27, a loss of $.90 or a drop of 17.1%.
CACI International (CAI) was the last pick for the week when it was trading at $34.27. This stock had a nice month and it closed at $39.23 on 8/1/03, a gain of $4.96 or a gain of 14.5%.
Overall for the week we had four stocks up with gains ranging from 5.85% to 38.3%, and four stocks down with losses ranging from (10.06%) to (22.3%). The average performance for the eight issues was a gain of .88%. Pretty much a wash for the month.
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