Stocks Watch

September 09, 2004

LOCALLY

Sandy Spring Bancorp Inc.The holding company that owns Sandy Spring Bank tumbled $1.83, or 5.3 percent, to $32.85 yesterday, on what generally was a down day for financial stocks. Giants such as Citigroup Inc. and J.P. Morgan Chase & Co. also fell.

NATIONALLY

Dean Foods Co.

Shares of the largest U.S. milk producer sank $6.73, or 18 percent, to $30.40 after the company cut its outlook for the quarter and the year, blaming competition and rising costs for milk, fuel, resin and other commodities. The company said 2004 earnings will be $2 to $2.05 a share, less than its August forecast of $2.21 to $2.26, because of bad bets on dairy prices and record fuel and commodity costs.

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