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Monday, Jan 30, 2023
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Stock prices enjoyed an upswing in the two-week period ended Oct. 29. The Dow neared 17,000 again with a 5.2 percent increase, the Nasdaq finished with a 7.9 percent gain and the Valley 50 rose 7 percent. Amgen Inc. was the top gainer with an increase of 21 percent as it beat Wall Street estimates for the third quarter and announced a new round of layoffs to cut costs. The biggest loser was IPC The Hospitalist Co. with a drop of 11 percent. The company, which supplies doctors to hospitals and nursing homes, missed analyst estimates for earnings and revenue for the third quarter. Cheesecake Factory had a decrease of 3 percent after reporting net income had fallen in the third quarter.

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