Stocks of companies with operations in the Buffalo area rose this week, led by Rite Aid Corp. and Ford Motor Co.
The Buffalo Bloomberg Index rose 2.33, or 1.43 percent, to 165.82. Thirty-seven stocks in the index rose, 20 fell and three were unchanged. The index has fallen 12 percent this year.
Rite Aid led the index's risers, gaining 35 cents, or 18 percent, to $2.34 after a federal judge withdrew from a criminal case of Rite Aid executives accused of falsifying accounting statements to boost its share price, the Wall Street Journal said, citing the Philadelphia Court of Appeals.
Ford also rose, gaining $1.17, or 11 percent, to $11.38 after Chief Operating Officer Nicholas Scheele said the company's cost-reduction program will generate savings of $300 a car this year, more than the company had forecast.
Barrister Global Services Network led the index's decliners, falling 9 cents, or 18 percent, to 41 cents. Astronics Corp. also fell, losing 38 cents, or 5.6 percent, to $6.42.