`Big guys' flex muscles in second quarter

By Tim Raetzloff | Apr 08, 2010
The Abarim Snohomish County Stock Index advanced 17 percent in the first quarter of 2010.
This compares to a gain of 4.1 percent for the Dow Jones Industrial Average, 4.9 percent for the Standard & Poor 500 Index, and 5.7 percent for the NASDAQ Composite Index.

Snohomish County has separated into four small-cap companies of some size, and seven micro-cap companies.
The four larger companies are Seattle Genetics at $1.202 billion in market capitalization, Intermec at $875 million in market cap, Zumiez at $623 million and SonoSite at $561 million. The value of the smallest of the four, SonoSite, is about twice the combined value of the seven micro-cap companies in Snohomish County.
Market capitalization is calculated by multiplying the value of one share of stock by the number of shares outstanding.

During the first quarter Zumiez had the biggest percentage gain of the four - up 61 percent.
SonoSite was up 36 percent, Seattle Genetics 18 percent and Intermec 10 percent.
 Six of the seven small companies were down in the first quarter. The only one that was up was MDRNA, which was trading below $1 a share in December but has traded above $1 for more than a month and was returned to the ASCSI on March 29.

The small companies were a drag on the ASCSI, which would have been up more than 20 percent if only the larger companies were considered.

One company, MDRNA, was added to the ASCSI in the first quarter, for a total of 11 companies. Two current companies are likely to be gone from the ASCSI by the end of the second quarter; both companies (banks) have been notified by federal regulators that they must raise capital or sell.
As of March 31, the 11 ASCSI companies were:

Cardiac Science, Cascade Financial, CityBank, CombiMatrix, Frontier Financial, Intermec, MDRNA, OncoGenex, Seattle Genetics, SonoSite and Zumiez
• • •
(The Abarim Snohomish County Stock Index is a promotional index prepared by Abarim Computers, located at Five Corners in Edmonds. For inclusion, a company must have its headquarters in Snohomish County, shares must trade on a recognized exchange where quotes are always available by a computer online, shares must trade over $1 per share, and it must be current in all required regulatory filings. Abarim holds an investment portfolio that does not include any companies that are part of the Abarim Snohomish County Stock Index.)

Comments (0)
If you wish to comment, please login.