Stocks Down, Palm Harbor Gains

Shares of Palm Harbor Homes shot up Monday following a Chapter 11 bankruptcy filing and the announcement of an asset purchase agreement by Cavco. The Dow ended lower, however, but the 39 point decline was a marked improvement from losses earlier in the day. Palm Harbor Homes ended the day at 25 cents a share, almost 75 percent above Friday’s close. Cavco ended up almost one percentage point at 34.46. Skyline Corp ended the day higher by more almost three percentage points. The Barnes Group also ended nearly two points higher. Drew Industries and UMH Properties closed modestly lower.

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