Buffalo stock index drops for third week straight
NEW YORK (Bloomberg) — Buffalo stocks fell for the third-straight week, led by Graham Corp. and FMC Corp.
The Bloomberg Buffalo Index dropped 7.17, or 3 percent, to 231.08. Twenty-six stocks fell, while 22 rose and two were unchanged. The index has fallen 12 percent this year.
Graham, the Batavia-based maker of vacuum and heat-transfer equipment, fell $18.95 this week, or 20 percent, to $74.45. The stock has dropped 30 percent since hitting a 52-week high of $106.97 on Aug. 14. It has still more than doubled in the past year.
FMC, the world’s largest producer of soda ash, declined $6.04, or 8.2 percent, to $67.50. The shares have climbed 48 percent in the past year.
The Bullfinch Fund’s Unrestricted Series fund fell 49 cents to $13.07. Its Greater Western New York Series fund fell 50 cents to $13.90.
M&T Bank, whose second-largest shareholder is Berkshire Hathaway, led gainers by climbing $2.57, or 3.6 percent, to $73.91. The stock has fallen 30 percent in the past year.
