Document 6504143
Transcription
Document 6504143
Business A§ Saturday, September 5, 1998 Press-Republican Press-Republican •.rt^asHf o ^fUtrr IN REVIEW deputy chief investment officer for equities at State Street Research and Management in Boston, asserting that the market will re. JSfEW YORK — Stocks fell again Friday, but main volatile until there's greater clarity on a late rally prevented a 200-point loss for the how much the economic crises overseas has second straight day as Wall Street seesawed hurt American companies. "There's a lot of concern about whether ynto the close of a volatile, bruising week. The Dow Jones industrial average fell 41.97 we're even going to have earnings growth >,' 7,640.25 after charging back over the final next year," he said, noting that several secualf hour from a 186-point slide. The small. rities firms lowered J h e i r 1999 forecasts for c\rop left the Dow about 1,700 points, or 18.2 company profits on Friday. The week's overall decline of 411.43 points perpent, below the July 17 record of 9,337.97. ,,. Qn Thursday, a similar spurt of last-minute left the Dow exactly 268, or 3.4 percent, bebargain hunting wiped out half of a 203-point low its starting point for the year. At the July peak, the Dow was up 18.1 percent for 1998. Iqss, leaving the Dow 100 points lower. . '.ytfhile it was the third straight losing sesMuch of that slide has come over the past sion, Friday's finish represented a sharp im- two weeks, which has seen the Dow tumble provement from earlier in the week, when 893.40 points, or by 10.5 percent. the Dow plunged 512 points on Monday and There were more signs Friday that the yearthen fell an additional 140 points to 7,400 on old economic crisis in Asia is hurting demand Tuesday morning before rallying back to a for U.S. products abroad, bolstering calls for gain of 288 for that day. the Federal Reserve to fuel domestic borrow, "What we're having here are aftershocks ing and spending with lower interest rates. from Monday's earthquake," said Jim Weiss, The government reported that the unemBy BRUCE MEYERSON AP Business Writer K ployment rate held steady at 4.5 percent in August as lost manufacturing jobs offset the return of 150,000 workers idled by the strikes at General Motors earlier this summer, preventing a recovery to the 28-year low of 4.3 percent low seen in April and May. Average hourly wages in August grew by 7 cents to $12.86 — a faster pace than the 3cent increases recorded in each of the previous three months. The healthy rise in wages, which typically account ibr-two-thirds of a product's price, signaled that inflationary pressures remain and may keep the Fed from risking a rate cut. Financial companies took another beating amid worries about their loans to the crisisplagued economies in Asia and Russia. Chase Manhattan fell 3% to 45% and Citicorp fell 6 to 92M>. Among the Dow 30, American Express fell 3% to 73%, Travelers Group fell 2 1716 to 39 1/16, and J.P. Morgan fell 1 13/16 to 86 15/16. Declinjing issues barely outnumbered advancers on the New York Stock Exchange and the Nasdaq Stock Market. Procter & Gamble rents technological know-how to others development (R&D), which yields ; > By PATRICK LARKIN more than 3,000 patents each year. '' ''Scripps Howard News Service "Our R&D portfolio includes " CINCINNATI — In a major pol- promising and powerful technoloicy shift, the Procter & Gamble Co. gies and patents across a broader |ia's' begun licensing some of its range of industries than any of our proprietary technology to other global competitors," said Jeffrey D. Weedman, vice president for global companies. " The company isn't parting with licensing. "We can't use all that the formula for Tide, but it is li- we're discovering. Smart use of licensing technologies, trademarks censing will allow us to leverage and other intellectual property it the value of these assets and ser{4s developed but isn't using or cure an even greater return from vfrhich has applications beyond our R&D investment." those originally envisioned. The global-licensing unit was essThe effort seeks to increase the tablished in late 1996 and within eturn on the $1.5 billion P&G the last six to nine months has 3 annually on research and reached a level of staffing and ex- pertise to aggressively shop licenses for patents, trademarks and other intellectual property, the company said. The unit handles worldwide licensing for P&G's food and beverage, laundry and cleaning, paper, and beauty care businesses. A separate unit handles healthcare licensing. A lot of the technology P&G develops for its own use has other applications, or the company determines it doesn't want to enter the business the technology was developed for, said Stephen J. Baggott of the global-licensing unit. An example is FruitCal, also known as CCM or calcium-citratemalate. P&G developed it to add calcium to fruit juices. In 1992 P&G took Citrus Hill off the market and its now used only in Sunny Delight juice drink. So the company licensed FruitCal to Tropicana, a major fruitjuice company. "We secure additional return on a pre-existing technology, and our licensees win by having access to an outstanding technology on which the R&D investment has already been made," said Tom Minnick of the global-licensing unit. James A. "Gi DAILY DOW JONES September 4,'1998 7640.25 _JML -41.97 7,831.291 Highest close j 0 x%n 07 1 i c n u l /../, 17 loan y^pi.yi 7,45,0.24 Juhn.ms, Low 9600 9300 '9000 _ 8700 ' 8400 ' 8100 ' 7800 7500 W 7/1/98 6/1/98 9/1/98 8/1/98 10/1/98' ;. STOCK MARKET INDEXES YTD %Chg' 12-mo %Chg -3.39 -19.65' -11.58 52-Week High Low 6,983.11 9,367 84 3,701.42 295.70 2,611.53 231.77 450.91 601.76 753.75 Last Name 565.06 2,028.18 1,190.58 1,465.61 855.27 381.31 492.28 11,10610 277.56 248 65 8,537,05 Chg %Chg Dow Industrials Dow Transportation Dow Utilities 7,640.25 2,616.75 - 4 1 97 -7.72 -.55 -.29 2-71.67 -.25 NYSE Composite Amex Market Value 486 31 602.71 -.69 - 3 58 Nasdaq Composite 1,566 52 973.89 291.65 347,07 S&P 500 S&P MidCap Russell 2000 Wilshire 5000 +4 01 -5.34 - 8 37 +1 14 +.78 - 6 2 38 8,931 16 -2.33 ,.5.l . -4.87 -.73 + 67 -34 -11 96 -.24 -.85 + 39 + .23 -69 -12,51 -20.58" -3.95- +15.35 +.34 - 9 71 -4.23 + 36- +4.83 -9,42 -19.85 -.14 STOCK EXCHANGE HIGHLIGHTS NYSE l GAINERS ($2 OR MORE) Name Last Armco BeijYan BredTch ChinSAir ShangPI JenCrg NwmtG Tatnett n BatlMt ParkDrl 4 3"/,6 8'/8 4'5/l6 8 6 21 7 /8 2 5 /l6 4% 53/16 L O S E R S G A I N E R S Chg%Chg +1 +'3/16 M'S/te +1V16 + 1 7 /l6 +11/16 +39/16 +3/6 +n/l6 +3/4 +33,3 +28 3 +27 9 +27.4 +21.9 +21.5 +19.5 +19.4 + 17.5 +16.9 Chg %Chg Emultek n UniqMbl Hmisph wt EchoBay InterDig W E B Mai GetchGId U S B Hid Blimpie Hemispx 213/16 55/8 6 7 '8 27/'6 3*16 2V4 13 +25.0 +21 6 + 19.6 +18 2 + 163 + 16.1 +5/16 + 13/4 + 1 5 . 6 +2 +14 8 +5/16 1-14.3 + 15/16 +13.2 Last L O S E R S Slsabel DeltaFn IndlDist n CBD-Pao Copel DescSA BncoFrn HillStr pf EqtCos Firstplus 6 6'A 8 99/16 Name Chg%Chg -1 7 /8 -1 7 /8 -23/16 -27/16 -7/8 -2V4 -2"/l6 -V16 -68/16 -3V16 4 13 I6V2 2 42V2 20 -23.8 -23.1 -21.5 -20.3 -17.9 -14.8 -14 0 -13.5 -13.4 -13.3 25/8 GamaB 4 BwlOtdr 24 MandCOO n ThrmRe 3 CE Frnk g 2 EnvSafe n 2"/16 CitFFin 143/8 MSTBR 56 UnityB wt 37/8 9 Softnet 8 /l6 -19.2 -13.5 -11 9 -11 1 -11 1 -10.4 -10 2 -9 7 Vol ( 0 0 ) Last Chg 168153 148856 106963 102454 101450 94996 92873 91242 81830 80098 39Vi6 45 3 A 75% 7 5 V4 92V2 42 603/4 -2Vi6 -3 7 /8 -1'/8 - 2 % -6 -'5/16 -41/4 Travelrs s ChaseM s GenElec Lucent s Citicorp PhilMor TelBrasI Pfizer Compaq s PSEG 95% 29"/i6 35 -5/8 -3V4 -3,8 -1/4 -5/16 -15/8 -6 -% -'3/16 Vol ( 0 0 ) Last (S2 OH MORE) Name Last TSAT B n e-Net AutoCyte GilmC wt NoveIDH Larscom AESCp wt Dyntcl ZmaxCp n PVF Cap s 3 ,-2 4 /8 -2 7 /8 7 -13/4 3 /!6 4'/4 - 1 0 / 1 6 93/16 -3'3/16 27/6 - W l 6 21'/4 -83/4 -1V4 37/e 3Vi6 -15/16 10 -3 Name Chg Chg %Chg ', 7 -40.0 -37.1 -33.7 -29.9 i -29 3 -29.2 I -29.2 -24.4 -23.4 -23.1 M Last (00) Chg i 1Q9fe DellCptr s 202075 + 17/16 CambTch 184510 273/8 -725/32. 781/4 Intel 161589 + 1V2 ' Microsft s 127226 96f/8 -25/8 -1%'i 89V4 Cisco s 121646 WorldCm 109476 4^3/4 - 1 % i + 15/B Oracle 85131 20'V16 Peopsft s 72960 3 0 ' 5 / i 6 +23,8 ' TeleComA 69805 HV2 3Com 59678 23.% -V* SPDR 177838 97 3 /4 -13/16 +3/B EchoBay 13916 2r/i6 TWA ' 10854 6 3 V2 BemaGold 10433 1 /B •V2 ViacB 9598 57V2 5 •3ft Metromda 9569 4 /8 Hemispx 6999 11'/4 +-1 V i s Nabors 6 6 9 2 14«/16 +1 GreyWolf 6437 1"/i6 +3/ie DJIADiam 5 7 8 1 76 7 /8 -5/32 -4V2 2'/2 23/4 33/8 2V2 4 31/2 51/2 7 +76.9 +46.3 +41.7' +37.5 +35.0 +33 3 +33.3 +33.3 +33.3 +31 . a ' M O S T A C T I V E (S1.PR MORE) ' M O S T ACTIVE ($1 OR MORE) Name + V/4 +13/16 +5/8 *?/4 + 7 /8 +S/8 +1 + 7 /8 + 13,8 + 1»/16 2'/8 33/4 LOSERS Chg %Chg M O S T ACTIVE ($I OR MORE) Name NAB CardGen n GtTrain ACE CO InterlnkEI Endocre Heartprt LundnOil n RespOnc LCC Intl ($2 OR MORE) Last Chg %Chg, Last Name +9/16 +1 + 1'/2 +3/8 +1/2 11 'M 1,566.52" ^5.34 G A I N E R S IS; OR'MOHE) Last 15V2 2'/2 NASDAQ f ($2 OR MORE) Name (S2 OR M O R E ) Name AMEX 602.71 +4.01 A 486.31 -3.58 + 1% I -'3/16 DIARY DIARY Advanced Declined Unchanged Total issues New Highs New Lows Volume DIARY Advanced Declined Unchanged Total issues N e w Highs New Lows Volume 1.493 1.524 501 3.518 . 10 366 918,510,875 274 310 136 720 3 77 ' Advanced Declined Unchanged Total issues New Highs New Lows Volume 47,980,135 . 1,972 2,068 j 1,488 ! 5.528' 3l 448' ' o8,ogoi 623.^ STOCKS OF LOCAL INTEREST Support the Electric Power Consumer Rate Relief Act and make NUG prices competitive. Name Ex Div Yld PE AT&T NY 1.32 2 . 5 AirTouch NY Albank Nasd M a k e a phone call. Fight for competitive electricity prices! Name Ex Div Y l d P E Last Chg%Chg IBM NY 88 7 IntPap NY 1.00 2 5 Kaman Nasd 44 3.0 4 14V2 Keycorp s NY 94 3.5 1 3 273/is 422215/16 - V i e - 8 . 9 LaPac NY .56 2.8 481913/16 -^16 + 4 , 3 1.20 15 McGrH NY 1.56 2.1 2 5 753/4- ,2.9/16 + 2 . 4 .56 18 253,8 68 2 9 17 23'/2 +1/4+16.0 NY 1.54 24 42'/2 +1/4 BellSo NY 1.44 2 2 669/16 BenJerry Nasd CollAik NY Darden NY DowJns (NYSEG) 53'/4+17/i6-13.1 17 57 56 7 /e 84 17 557/s-2'/2 A H o m e P s NY .86 2 7 49V16 NY 2.20 Ameritch s NY BkNYs NY BellAtl s Amengas Your call is needed today to help bring down electricity prices in New York. YTD YTD Chg%Chg Last -9/16+36.8 +8 6 +Vi6+28.3 47+1%+16 8 -7/i6-12.1 NBT Bcp s Nasd -7.4 +3/4+18 2 N Y S pf NY NiaMP NY 3 75 15'/4 -1/2 - 1 . 6 PainWeb s NY 615/16 +V16-19.6 Paychex s Nasd .08 2315'3/16 +7/i6+26.5 PennTr NY NY .96 6 8 485/16 -V2-IO.O Penney NY 1.60 18 +7/8+31.7 PepsiCo 20 ... 463/4 19 2 4 " A +1/4 -2.5 395/8 +15/16 - 8 . 1 •+3^-11.5 v -'/2-23.1 . 61 Vie .. + 4 . 4 157/16 +3/8 + 4 7 . 0 .40 1.2 11 32V2- •115/16 - 7 . 1 24 6 6 6 41V2 +7/i6+21.9 NY 2.18 4 2 2 7 525/16 , , . . . - 1 3 . 3 NY .52 1.7 233015/ie +1/16-14 7 . ' ..-79.5 1"/16 SBC Com sNY .93 2.5 2 1 379/,6 + /i6 NY .92 2.0 1 4 471/2-V16 + 4 . 1 7 EvrgrnB Nasd FleetFnc NY FrontrCp NY 89 SvcMer NY 1^8 ...-23.5 GaPcGP s NY 1.00 ..4113/16 -1/4-31.2 Sherwm NY 1.9 1 6 24=/16 -3/4-12.4 GMP NY 1.08 361113/16 ., - 3 5 . 5 Tandy s NY 8 3 9 51 7 /8 Hanfrd NY .60 28 42'/2 -4(3 - 2 . 2 Tennco NY 3.6 14 Harris s NY 96 20 333/4 +1/4-26.4 Travelrs s NY 1.3 11 39Vi6- - 2 V 1 6 - 2 7 5 HillsStrs NY . 113/16 -'/16-42.0 HKTel NY In fact, NYSEG customers pay $680.000 every day in excessive prices for government mandated NUG electric power! HostMar NY That is too much! Prime Rate Discount Rate Federal Funds Rate Treasuries We've discussed with you the important steps we at NYSEG have taken to promote competition and lower the price you pay for electricity. .60 2 0 1 1 9 3 * -23,8+14.1 37 14 69 7 /i6 1.96 43 -1 -7.6 Sears 26V2 - 1 V 2 + 1 0 . 4 . . 33 +2 6 ' 1. And we've talked with you about NUGs. Non Utility Generators were created by a failed public policy of the 1980s that backfired, and it costs you money every day! 1.10 5.9 18'/2+i5/i6-10.3 16 2 7 13 7 /ie We're trying to help. And now you can help too. -3/16-31.5 3Mnonth ! 6-month 5-vear 10-vear 30-vear The Electric Power Consumer Rate Relief Act, recently introduced in the U.S. Senate and House of Representatives will clarify states' authority to protect you against arbitrary and excessive above market prices for NUG electricity. It is a good law. And it will help. But your help is needed now to support it. Register your support for the Electric Power Consumer Rate Relief Act by calling toll free 1 -800-603-8006. Join your neighbors and NYSEG customers a^ros^New York State in the fight to reduce NUG costs. -•''. - 6 Nasd WalMart NY .31 ... . 5 35 -Vie-16.5 Pvs Week 8.50 ' 5.00 5.4375 5.00 5.50 4.84 4.97 4.98 5.00 5.00 5.04 5.11 5.28 5.34 Britain Canada France Germany Italy Japan Mexico 4.90 1 Total A s s e t s Ob) (SMIns) 1 Pvs Day 1.6722 1.5215 5.8029 1.7304 1708.00 133.57 10.2100 1.6736 • 1.5375 5.8130 1.7309 " 1709.00 :! 134.70 .,10.1500 . , , British pound expressed in U S. dollars Alf others show dollar in foreign currency. ' Fidelity Invest: M a g e l l n GR V a n g u a r d Idx F d s : 5 0 0 ' Gl American Funds: Wsh p Gl A m e r i c a n F u n d s : I C A px Gl F i d e l i t y Invest: G r o l n c x Gl Fidelity Invest: C o n t r a GR Vanguard Fds: Wndsll Gl A m e r C e n t u r y 2 0 t h : Ultra GR Fidelity Invest: P u r i t n x BL Vanguard Fds: Weiltn BL F i d e l i t y Invest: E q I n c El Fidelity Advisor T : G r O p p T GR J a n u s : Fund " CP A m e r i c a n F u n d s : Inco p El American Funds: Eupac p IL V a n g u a r d Fds: Wndsr Gl A m e r i c a n F u n d s : N Per p GL V a n g u a r d Idx F d s : I n s t l d x Gl Putnam Funds A : GrlnA p Gl Fidelity Invest: E Q I I El P I M C O Funds Instl; TotRt IB MorgSIDeanWltB:DivGtBtGI F i d e l i t y Invest: B l u C h x GR P u t n a m F u n d s B: G r l n B t Gl Janus :WrldW GL F r a n k l i n C l a s s I: C a l T F I p SS American Funds: Gwth p GR AIM Funds A: Const p MC 73,830 64,695 46,684 45,196 44,363 35,433 30,155 27,799 24,942 24,559 24,247 23,872 22,815 22,113 21,470 20,735 19,882 19,229, 19,172 18,982 18,499 17,592 17,050 16,242 16,187 15,144 14,257 14,219 NAV 93.85 90.70 29.89 27.59 36.86 47.83 27.35 28.37 17.55 29.17 47.75 41.66 25.65 16.97 25.22 14.42 20.25 90.12 18.12 26.04 10.83 53.06 39.07 17.88 40.62 7.39 18.45 23.97 Total Return/Rank 4-wk 12-mo 5-year -11.5 -10.5 -8.0 -8.5 -9.2 -11.2 -11.0 -13.7 -7.2 -5.0 -11.3 -9.3 -13.5 -5.5 -9.0 -15.0 -8.9 -10.5 -10.3 -11.3 +1.2 -8.8 -10.9 -10.3 -12.2 +1.3 -12.8 -14.9 r +3.0/B +6.2/A +6.7/A +4.0/B +7.3/A +5.3/B +2.3/B +2.2/B +4.2/B +5.6/A -2.8/D +3.7/B +5.2/A +3.5/A -3.6/C -16.1/E +2.9/A +6.3/A -3.8/D +3.8/A +11.0/A +3.1/B . +7.1/A -4.5/D +7.8/A +8.4/B +0.1/C -15.3/D +94.3/C +135.1/A +125.3/A +108.3/B +125.3/A +108.9/B +119.2/B +92.8/C +79.0/A +93.0/A +99 9/A +118.3/B +100.6/B +74.9/D + 6 1 5/A +72.1/E +91.4/A +136 6/A +97.0/C +99 0/B +42.3/A +983/C +123.1/A +89.8/D +134.1/A +34.7/A +91.6/D +73.0/B P c t n . M l n Inlt Load' Invt, 3.00 NL 5.75-7; 5.75 ; ; N L in 3,00^ NL NL.,. NLNL" 3.50: NLn, 5.755.75"' NLM°" 5.75" • 2,5(50 3,000 250 250 2,500 2,500 3,000 2,500 2,500 3,000 2,500' 2,500 2,500 1,000 25$ 3,000 250 NL1O,O00,000 5.75, NL 500 ' 2,500 NL 5,000,000 NL 1,000 3.00 2,500 NL,/. 500 NL 2,500 4 2 - -l—, 5.7§n 1,000 1,000 500 5.50 I t C P - C a p Apprec. El - Equity Inc. G l - Growth & Irtc, G L - Global; O M = G e r r M u n i . G R - Growth. H M s j J l s Y l d MunT IB - Inlerm Inv-GrtCorp.- IL - Internal. L G - Long G o v t . M C ; - Mldcap J U t G . ^ M o r t g . . M P =.Stock.& B d . SS - SionUSt Muni, Total Retn: Chng In NAV with dividends reinvested. Rank: H o w fund performed vs. others with s m dbiecllve- A M n top 2 0 % , E In bottom 2 0 % . Mln Inlt Invt: Minimum $ needed to invest In fund. NA = Not avail. NE a D a t a In tiuast1on,NSrF.FMnd hot In existence. Source: Upper Analytical Services Inc '•.•> it i_ 98-1335 the energy people you can count oh V^'Tridin'!} JUU d t ^ r t i o n « l ^ f ; 4 j f ^ UHllwuiivfj.uvaw.;, .~,|.iw*™ C W n W ^ ' . L ^ i n i u s i ^ ytfumeln.huMredsofaharei fat tem te<to'«stW^ Anthony W . I TICONDER I (Tony) -W. Mai | | Black Point R01 t l died Thursda 1998, at the ' m Hospital follow He was born i April 4, 1932, ...+14.3 IfeyAL r%ND$ Name PERU — Dr. £ 71, of t;he Jabez Thursday, Septen home.'He was bo Augusts, 1927, tl and Maria (Hanf ' Dr. Koerner wi CVPH Medical ied medicine ir many, and did Cook County Ho He served his re Memorial Hosp: where he was 1 teaching staff fo Dr. Koerner ca 1966 and was c Medical Center ment-ia- 1992. ] outdoors, sailini ing a gfehtlemar Survivors inch (Weisser^ Koerne married.' in Chic sons a$d three Andrew Koerner cia Sayie, of War and Janet Koerr Thomas-H. and of Newport New Koerner of Ijiostx Thea Use of Gem sister-in-law, Wei j | Koerner of Germ I Toni Koerner; ei I John, Tjjylor anc f of Thomas H. K I and Hannelore, 1 1 Koerner,; and Ni I children of Chi ' and several niea There will be i A funeral mass I Monday, Septen I a.m. from St. At J Peru. Burial wi I gustiner's Cemel I -Friends wishi I nations to the M Foundation, 171 I ver, CO 80202, .$ tine's School Se ;|j Arrangement! j | Funeral Home, 58V2 - 1 5 / 8 + 4 8 . 3 Last 8.50 Dr. Herbert, 48 7 /8 = 1 7 / 8 - 2 1 . 8 CURRENCIES V Support new legislation in Washington that will help protect you from the artificially high prices charged by these NUGsf VTTeddy I&I0NEY RAfES Last And it just doesn't make sense in today's competitive electric market. US Airway NY -1/2+34.5 33 PIATTSBURG "Gus" "Cusprinie, Way, cli^d Thursc 1998, at the CVP] He was born in March 24,1934, ti and Helen (McM< Gus was emp Electric Motors was'4 member of tory Church and Society of Our L; Gus was a mem and was active w Derby and vario tees. He was a Plattsburgh Skat Loyal Order of M Survivors inch Raudenbush of brather^and sister and Beverly Cusp raj-and several ni Two .sisters, Fenner.and Mar: earlier." Calling hours w 2to4and7to9p. Funeral Home, 3 neral service will 10 a.m. from th Home^Chapel. Bt St. Joseph's Ceme Donations in '. be made to Resc bi GAREOW — . [ Howard H. Garrov j low Road, who die at CVPH Medical [day at 11 a.m. at j Church, where thi [officiated. Bearers [man Waldron, E lAshline II, Henri [Kennedy. Burial I [ Cemetery, where t I committal prayen |bytheR.W.Walke SUPEENANT lian Burial-* for Je iwho diedjuesday. ' Personal-i -MALONE — P |xsy was hurt whet . ranklin Street T F^Malone-State I parroii, 54 of. Ma sen Joshua Hoi1 Iween twolparked |r3ed to Stop but fe p(d slipped undei Beg and ankle. He 1'ehicle to Alice H vas treated and r No tickets were S.,OU ,.lr Qg , J^Eiure Ji -The~ cSse of K PfattsBurpi', accu Wraa&fo0y ovei Journed until Sep ••^He W a t e u s e d ^fees of tpiterteen kl*acts"wtth men