It was a week in which so-so reports about manufacturing and jobs helped to mute concerns about inflation, but the soggy economic news left stock prices limp.
Locally, it was a banner week for Motorola Inc., as the world’s second-largest maker of mobile phones had its credit rating raised by Moody’s Investors Service for the first time in 17 years.
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The higher debt rating, reflecting greater-than-expected gains in sales and profit, was the first rating increase given to the company since April 1988.
“Motorola has made a pretty remarkable turnaround,” one analyst said.
Motorola’s stock finished the week at $17.74, up 28 percent from its 52-week low of $13.83.
Abbott Laboratories advanced after saying it sees a peak-year sales opportunity of $500 million for oral Zemplar, a vitamin D therapy for kidney patients newly approved by the Food and Drug Administration.
Combined with its injectable version of Zemplar already on the market, sales could reach $1 billion, the North Chicago-based company said.
Abbott shares finished at $48.27, up 26 percent from their 52-week low of $38.26.
Shares of Boeing Co. continued their surge amid growing indications competitor Airbus SAS is having trouble getting new models off the ground.
Airbus said the first deliveries of its much-trumpeted A380 “superjumbo” plane will be delayed by as much as six months because of technical problems.
Shares of Boeing ended at $64.66, up 42 percent from their 52-week low of $45.51.
Deere stuck in neutral
Shares of Deere & Co., the world’s largest maker of farm equipment, made little headway despite the Moline-based company’s announcement that it is buying United Green Mark Inc., which operates wholesale dealerships for irrigation, nursery and landscape materials.
Deere is trying to bulldoze its way into a major role in the landscaping business. It will have more than 300 outlets when the deal is completed. But its shares closed at $64.57, off 13 percent from their 52-week high of $74.73.
And shares of McDonald’s Corp. couldn’t generate much sizzle as it announced Guy Russo, its former chief of operations in Australia, will be in charge of China. The Oak Brook-based fast-food giant is trying to catch rival Yum Brands Inc. in the world’s fastest-growing economy.
Shares of McDonald’s ended at $30.51, off 12 percent from their 52-week high of $34.56.
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