Stocks Mixed In Tepid Trading, Nasdaq Soars

Stocks turned mixed amid profit-taking Monday. The Dow Jones industrials broke a streak of record gains, but a late burst of interest in technology stocks boosted the Nasdaq index to a new high.

The blue-chip Dow average fell 9.95 to close at 7,772.09. At one point in the morning, it hit a high of 7,795.16, but by the close, the Dow failed to keep up with its recent blistering pace.

The Dow has gained more than 20 percent this year, ending last week with its sixth consecutive record finish. On Friday alone, the Dow rose 70.57 to close at 7,782.04 after coming within a third of a point of 7,800.

“We can’t see the market gain 70 points every day,” said James Solloway, director of research at Argus Research in New York. “Following six consecutive sessions of relatively strong increases, some profit-taking should be expected to set in.”

He noted that investors were as disinclined to push the market down as they were to fuel another record-breaking rise.

Some of the stocks that moved substantially or traded heavily Tuesday:

NYSE

Core Industries, up 3-1/2 to 23-1/4.

The Bloomfield Hills, Mich. company said it is discussing the possible sale of the company and attributed the rise in its stock price to the talks, Dow Jones News Service reported. Core Industries makes specialty products in three segments: fluid controls and construction products; test, measurement and control; and farm equipment.

National Westminster, down 4-5/8 to 74.

The British bank is reportedly on the verge of overhauling its investment trading arm, NatWest Markets, Dow Jones News Service reported. However, a spokesman for NatWest told Dow Jones that reports of plans to cutback operations at the investment arm are “pure speculation.”

NASDAQ

Quickturn Design Systems, up 2-7/8 to 15-7/8.

Quickturn will link its emulation technology with Synopsys Inc.’s synthesis tools, according to Dow Jones News Service.

Microwave Power Devices, up 1/4 to 4-3/8.

The Hauppauge, N.Y. company received a $7.3 million amplifier order from Lucent Technologies Inc. Microwave Power designs and makes amplifiers and related products for the wireless telecommunications market.

AMEX

Barr Laboratories, up 2-7/8 to 38-5/8.

The Pomona, N.Y. drug company’s stock hit a 52-week high as investors anticipated the company’s launch of a generic version of a popular blood-thinning drug. The company is preparing a U.S. launch of its generic version of Coumadin, which is made by a joint venture between Merck & Co. and DuPont Co.