Underwear keeps top portfolio warm
06.02.2008 15:02
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- Source: toledoblade.com
A sixth-grade team from Fallen Timbers Middle School is clinging to a narrow lead in The Blade's School Stock Contest. Led by gains from bad-weather clothing manufacturer Under Armour Inc., of Baltimore, the Leapers team's picks rose to $47,865 last week from $43,715 the prior week. The team was ahead of BG1 from Bowling Green High School by just $300. "What was impressive is that we had eight teams in double-digit leads for the week," said Matthew Faltys, vice president and director of portfolio management for Fifth Third Bank locally. In the second week of the 14-week contest, the Bowling Green team took over second place from one at Defiance High School. More than 1,325 students from 26 schools entered the contest by the Jan. 18 deadline. Each of 104 participating teams divided an imaginary $40,000 evenly among four stocks trading for at least $5 a share. The winner will be the team with the largest portfolio gains when markets close at 4 p.m. April 25. First place earns $500, divided evenly between the team and its school. Second place is $250 for the school and third place is $100 for the school. Co-sponsors of the contest are The Blade's Newspaper in Education program and Fifth Third Bank, which tabulates results. The first-place portfolio also has KeyCorp, Cleveland, Coca-Cola Co., Atlanta, and General Mills Inc., Minneapolis. The second-place portfolio also was heavy on recognized consumer brands: Abercrombie & Fitch Co., New Albany, Ohio; La-Z-Boy Inc., Monroe; Bob Evans Farms Inc., Columbus; and Marathon Oil Corp., Houston. Portfolios of the top three teams rose 9 to 10 percent last week. But the portfolio of a team from Defiance High School rose 15 percent to $43,332 on the strength of an unconventional group of picks that included Orckit Communications Ltd., a manufacturer of broadband communications gear based in Tel Aviv. Its shares were up 50 percent to $7.51 last week. Mr. Faltys couldn't find anything to show what was driving the obscure small-capitalization Israeli stock. "Obviously, there was some good stock picking going on," he said. - Gary T. Pakulski
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