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Sector roundup: Asset managers, casino operators
By The Associated Press | 21 Oct 2008 | 06:48 PM ET
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Among the sector activity stories for Tuesday, Oct. 21, from AP Financial News:

NEW YORK (AP) — Shares of asset and investment management companies fell in Tuesday trading, after the first major company in the sector, BlackRock Inc., posted disappointing third-quarter results.

NEW YORK (AP) — Shares of some casino operators gained on Tuesday afternoon, after Kirk Kerkorian's investment firm said it plans to refocus its resources on the gambling and hotel industries, as well as on oil and gas companies.

NEW YORK (AP) — The shares of many major U.S. airlines rose Tuesday afternoon, as lower oil prices trumped a decline in the broader stock market.

NEW YORK (AP) — Shares of cosmetic companies fluctuated Tuesday, as Wall Street retreated after Monday's advance, and an analyst cut her price targets on Estee Lauder Cos. and Avon Products Inc.

NEW YORK (AP) — An analyst on Tuesday relaunched coverage on several apparel makers, mainly with "Neutral" ratings, amid a difficult economic environment and higher sourcing costs.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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