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Business

Long Island stocks on the move

Money in drain

Money in drain Photo Credit: iStock

Two Long Island companies whose stock suffered the week ending Aug. 20, 2010.

Cedar Shopping Centers
(CDR)
Port Washington  
$5.09 (week's change: -7.5%) 
52-week return: -13.7%

The shopping center owner sold $70 million of preferred stock, which it will use to reduce the outstanding amount on a credit line. The news helped drive CDR shares to a 52-week low.

 
1-800-Flowers.com
(FLWS)
Carle Place
$1.91 (week's change: -18.4%) 
52-week return: -32.7%

Shares had their worst week of the year after the online florist said sales fell compared to the year-ago period. The company said consumers are cutting back on discretionary purchases.

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