Hudson City?s Big Week

New Jersey Stocks at a Glanceit was a disappointing period for both the Runnymede NJ-30 and S&P 500 stock indexes, which declined 0.8% and 0.6%, respectively, during the five trading days that ended June 8. With a weak jobs report and a reduced GDP forecast from the White House, decliners outnumbered gainers on the Runnymede index by nearly three to one. On the upside, Hudson City Bancorp led the five biggest gainers after the company said it had raised $3.93 billion?the largest stock sale ever by a U.S. bank?to complete its conversion from a thrift to a company owned entirely by public stockholders. Shares of C.R. Bard reversed a four-week negative trend to finish the latest period up 2.4%. The maker of medical instruments said its board approved an 8% quarterly dividend hike to 13¢ a share. Positive news from AT&T included an alliance between the company and Microsoft to develop Internet-based services for business.
Celgene, the year?s top gainer on the Runnymede index, tumbled along with other biotechs even though the FDA accepted its blood-disorder treatment Revlimid for review. Shares of Englehard fell after Deutsche Securities downgraded the stock from ?buy? to ?hold? in response to the company?s plans to close a metal-products plant in Carteret. And shares of Valley National Bancorp dropped in the wake of the completion of its acquisition of NorCrown Bank.

Five Largest Gainers

HUDSON CITY BANCORP 6.0 %
C.R. BARD 2.4
AT&T 1.4
BED BATH & BEYOND 1.3
MEDCO HEALTH 1.1

Five Largest Decliners

CELGENE -4.8 %
ENGELHARD -2.8
VALLEY NAT?L. BANCORP -2.7
COGNIZANT TECH. SOL. -2.4
WYETH -2.2

Source: Runnymede Capital Management analysis for trading days from 2 to June 8, 2005.