Orange terror alert rallies security company stocks - UPDATE 2 02.08.2004 22:16 Zurück Headlines
NEW YORK (AFX) -- Shares of companies making security-related products
closed off their early highs Monday, as a rally prompted by fresh terror alerts
over the weekend waned late in the session.
Citing "unusually specific" evidence of possible al-Qaida attacks against
certain key financial buildings -- including the New York Stock Exchange and the
International Monetary Fund headquarters -- Homeland Security Secretary Tom
Ridge raised the terror alert level on Sunday to orange for New York City,
northern New Jersey and Washington, D.C.
Other buildings allegedly targeted included the World Bank in Washington, as
well as the corporate headquarters for Citigroup and Prudential Financial ,
located in Manhattan and Newark, N.J., respectively.
Mt. Laurel, N.J.-based Mace Security International (), which makes pepper and
tear-gas sprays, car alarms and other security equipment, finished up 4.6
percent at $3.46, off its intraday high of $3.74.
Digital Recorders (), a Dallas-based maker of mass-transit surveillance
equipment, was up 3 percent at $3.97, after peaking earlier at $4.39. San Ramon,
Calif.-based Ipix (), which also makes surveillance equipment, was up 1.5
percent at $9.05, having touched a high of $9.70. Security systems firm
International Electronics (), based in Canton, Mass., gained 2.8 percent to
$2.97.
DHB Industries gained 12 percent to $17.05. The New York-based company makes
bulletproof vests and other body armor.
San Diego-based Hollis-Eden Pharmaceuticals , which is working with the U.S.
military to develop a drug to protect against radiation, rose 3.7 percent to
$9.95
Magal Security , an Israeli maker of electronic security systems used at
borders, airports and nuclear power stations, ended down 60 cents at $15.64,
off an early high of $17.45.
InVision Technologies () which makes bomb detectors, was left out of the rally.
The Newark, Calif.-based company said late Friday that it is investigating
alleged violations of the Foreign Corrupt Practices Act by its distributors,
which could jeopardize General Electric's $900 million cash purchase of
InVision.
Shares closed down 12.9 percent at $43.27.
This story was supplied by CBSMarketWatch. For further information see
www.cbsmarketwatch.com.
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