TSC 21: Index Falls on Expeditors Downgrade - TheStreet

TheStreet.com 21 index, our stock market gauge for progress in the broader economy, began the week by handing back some of last week's gains, dipping 0.2% on Monday.

The index fell 1.88 points to 1029.09, with 10 of its components rising and 11 falling. The broader markets were mixed: The

Dow Jones Industrial Average

dropped 18.06 points, or 0.19%, to 9,266.51, and the

Nasdaq

rose 4.64 points, or 0.27%, to 1,735.34.

Shares of

Continental Airlines

(CAL) - Get Report

soared 80 cents, or 5.86%, to $15.45, after

Delta Air Lines

(DAL) - Get Report

and

United Airlines

agreed to end their frequent-flyer and lounge marketing relationship. Delta announced a new partnership with Continental in June.

Monday's other big winner was

Manpower

(MAN) - Get Report

, a staffing company that serves as TSC 21's barometer of the labor market. The federal government's monthly employment report for July is due out on Friday, and Manpower's stock rose $1.02, or 2.86%, to $36.74 on hopes of some positive labor news.

Shares of

Tiffany

(TIF) - Get Report

rose 52 cents, or 1.5%, to $35.16.

Best Buy

(BBY) - Get Report

climbed 58 cents, or 1.35%, to $43.64, and shares of

Belo

(BLC)

were up 23 cents, or 1.03%, to $22.52.

The other five winners in the index posted less-than-1% gains.

On the losing end, a Robert W. Baird Research downgrade from outperform to neutral sent shares of

Expeditors

(EXPD) - Get Report

down $1.43, or 3.87%, to $35.53. Analyst Jon A. Langenfeld said the stock is nearing its price target of $39, but on the whole, he remains positive on the firm's prospects.

Level 3 Communications

(LVLT)

continued its slide, which began after a lackluster earnings announcement on Thursday. It fell 12 cents, or 2.5%, to $4.68.

Bank of New York

(BK) - Get Report

tumbled 45 cents, or 1.47%, to $30.08;

Equity Office

( EOP) dropped 34 cents, or 1.22%, to $27.56; and shares of

Solectron

( SLR) were down 6 cents, or 1.15%, to $5.16.

Six other TSC 21 stocks posted less-than-1% losses on the day. The index stands about 29 points above its July 3 start at 1000.