Business Services Industry
Chattanooga, Tenn.-area firms' performance in quarter follows national trends.
Knight Ridder/Tribune Business News, July, 2004
By Dave Flessner, Chattanooga Times/Free Press, Tenn. Knight Ridder/Tribune Business News
Jul. 1--Rising interest rates, oil prices and terrorism attacks slowed the stock market in the second quarter.
But investors in most Chattanooga companies still made money during the past three months.
Among the 11 publicly traded companies headquartered in the Chattanooga area, six rose in value during the quarter ended Wednesday, including Chattanooga's biggest company, UnumProvident.
"The market got bogged down with the all the problems in Iraq and concerns about the Fed raising interest rates and gasoline prices reaching record highs," said Mike Gibbs, managing director and senior equity manager at Morgan Keegan & Co. in Memphis. "But...
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