Zumiez Inc. of Everett saw its shares rise 6 percent in value during the second quarter — a modest rise after a large first-quarter slide.
But the Everett-based retailer of skating gear and related clothing probably is fine with that performance, as many companies ended the quarter with much worse results for their stocks.
In fact, just two of the 14 publicly traded companies based in Snohomish County eked out gains during a depressing second quarter on Wall Street.
The local decliners included all three of the county’s publicly held banks and a troubled biotechnology firm that’s attempting to reinvent itself. During the quarter, Nastech Pharmaceutical Co. changed its name to MDRNA Inc. and its stock symbol to MRNA to reflect the biotech firm’s new focus on developing RNA interference technology.
Edmonds businessman Tim Raetzloff, who created and tracks the Abarim Snohomish County Stock Index, said this was the worst quarter he’s witnessed for local firms. “The index, which is heavily weighed toward the banks, was down 34 percent,” Raetzloff reported.
His index is now at its lowest point since October 2002, he added.
That was much worse than the broader markets performed, although both the Dow Jones Industrials and the Standard &Poor’s 500 capped the quarter with their worst June since 1930.
The Dow, down just more than 7 percent for the quarter, now has declined for three consecutive quarters for the first time in 30 years. The Standard &Poor’s 500 was down about 3 percent, and the Nasdaq actually was up by 0.6 percent.
The Associated Press contributed to this story.
Reporter Eric Fetters: 425-339-3453 or fetters@heraldnet.com.
How local stocks stacked up
How they fared during the first quarter, with closing price as of Monday:
ZUMZ: Zumiez Inc., Everett, $16.58, up 6 percent.
CBMX: CombiMatrix Corp., Mukilteo, $9.99, up 3 percent.
SONO: SonoSite Inc., Bothell, $28.01, down 1 percent.
CSCX: Cardiac Science Corp., Bothell, $8.20, down 2 percent.
IN: Intermec Inc., Everett, $21.08, down 5 percent.
CCYG: CellCyte Genetics, Bothell, 32 cents, down 7 percent.
SGEN: Seattle Genetics Inc., Bothell, $8.46, down 7 percent.
SNUS: Sonus Pharmaceuticals, Bothell, 32 cents, down 11 percent.
HXBM: Helix BioMedix, Bothell, 58 cents, down 16 percent.
NPWS: Neah Power Systems Inc., Bothell, 2.8 cents, down 26 percent.
CASB: Cascade Financial Group, Everett, $6.51, down 47 percent.
MRNA: MDRNA Inc., Bothell, $1.22, down 48 percent.
FTBK: Frontier Financial Group, Everett, $8.52, down 52 percent.
CTBK: CityBank, Lynnwood, $8.60, down 61 percent.
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