21.   The gains reflect a dramatic turnaround in investor sentiment.

22.   The gains reflected increased employment, strong corporate profits, historically low interest rates and reduced government spending, the finance department said.

23.   The gains typically reflect stronger sales of newer products and international sales growth.

24.   The gain reflects an accounting change that better represents benefit expenses, and almost matches Wall Street earnings estimates for the quarter.

25.   The gains reflect a shift in the way McDonnell Douglas designs and builds products.

26.   The price gains reflect a remarkable change in investor attitudes toward Time Warner after years of being slammed over heavy investment in cable TV.

27.   There have been modest improvements in household income, Simms said, but the gains often reflect family composition and education as well as race.

28.   Those gains reflect declines in oil prices, not cost-cutting measures, analysts said.

29.   While many chains posted strong sales, the gains reflected price-cutting made to clean up bloated inventories left over from weak holiday sales.

30.   Analysts said the gains reflected market hopes that Turkish participation in the Afghan war would clear the way for fresh loans from the International Monetary Fund.