Storage Tech leads dip in state index this week

The Bloomberg Rocky Mountain News Index, a price-weighted list of companies based in the state, fell 0.77, or 0.3 percent, to 268.53, despite a gain of 0.73 Friday. Stocks that declined outnumbered those that gained 54 to 44, with two stocks unchanged. The index has risen 10 percent in the past year.


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Storage Technology, a Louisville-based maker of data- storage products, fell $2.31, to $29.98, this week. CFSB analyst Andrew McCullough downgraded Storage Technology to "neutral" from "outperform" on Friday.

Boulder-based drugmaker Pharmion Corp. fell $2, to $36, this week. Shares of Pharmion have more than doubled in the past 12 months. Home builder MDC Holdings fell $1.64, to $69.86.

Among shares that gained this week, Whiting Petroleum Corp. rose $2.49, to $33.79. Denver-based Whiting said on Tuesday it bought oil- and gas-producing properties in Mississippi and Texas from two private sellers. Including these acquisitions, Whiting bought $535 million of proved reserves last year.

Cimarex Energy Co. rose $2.40, to $39.33, this week. Shares of Denver-based Cimarex may be undervalued because investors are concerned about falling energy prices, Barron's reported in its Jan. 17 edition.

Forest Oil rose 98 cents, to $32.13, this week.

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