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Stockwatch

Stocks were incrementally higher in the broad market for the two-week period ended May 22. The Dow Jones industrial and the S&P 500 finished up 1.3 percent and 1.4 percent respectively, while the Nasdaq performed the best with a 1.5 percent gain. The Valley 50 Index was the only index in the red with a loss of 0.4 percent. The main driver for the negative performance was a 59 percent drop for Ceres, the biggest loser on the list. The company reported lower revenue and higher costs in its quarterly report April 11. The best-performing company was another biotech, MannKind Corp. in Valencia, which rose 207 percent on rumors of a sale.

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