Wall Street last week
Take-over situations dominated the Wall Street stockmarket last week, and prices closed on Friday on the upside after four days of desultory trading. The Dow Jones industrial index ended the week at 843.42 for a net gain of 0.48 points. Analysts said that investors were encouraged when the market failed to fall apart despite the stream of poor first quarter earnings that were announced all week. But they also said that the market is still under pressure from the Falkland Islands dispute and the lack of compromise between Congress and the White House on a Federal Budget. The market changed direction after news of an unexpected increase in the first quarter earnings of IBM, a company widely regarded as a bellwether. Closing prices on Friday of a selection of issues were;— Alcan. 18; Alcoa. 25*A: Amereda H6ss, 18’4»; ABC. Amax. 27-%; Am Express. 50;
Amer Motor. ATT. 55%; Armco, 19%; Asarco. 21%; Atlantic Rich. 40; Bethlehem. 22%; Boeing, 18%; Borden. 33%; Burroughs. 35%; Chrysler. 5; Citicorp. 27%; Coca-Cola, 34%; Colgate. 18%; CBS. 42%; Continental, 30%; Crane. 28; Dart and Kraft. 51%; Digital Eq. 82%; Disney. 57%; Dome Mines, 12%; Dow. 22%: Du Pont. 35; East Kodak. 74%; Engelhard, 22%; Exxon. 28%; Firestone. 10%; Fluor, 20%; Ford. 21%; Freeport, 16%: Gen Dynamics, 29%; Gen Elec. 63%; Gen Motors, 41%: Gen Tire. 19; Getty Oil. 50%; Goodyear. 21%; Greyhound. 14%; Grumman. 26; Gult Oil, 32%; Haliburton. 36%; Heinz. 30%; Homestake, 25%; Honeywell. 67%; IBM. 64%: Inti Harvester.
4%; Inco. 11%: ITT. 25%; Manville. 13%: Johnson Johnson. 38%; Kaiser Alum. 13%; K Mart. 19%; Lockheed. 53%: McDonalds. 68%; McDon Doug. 37%: Merrill Lynch. 29; MGM Film. 6: M-M-M, 55%; Mobil, 21%: Monsanto. 64%; NCR. 43%; Newmont Min. 37%; Occidental. 20%: Pfizer. 57; Phe) Dodge. 24%; Phil Pet. 31%: Polaroid. 19%; RCA. 22%: Raytheon. 36%; Reynolds Met. 19%; Royal D Pet. 33%: Seagrams. 52%: Sears Roe. 19%: Sedeo. 30%; Shell Oil. 37%: Shell Tr. 26%; Sperrv Cp, 28%: St Oil Cal. 30%; St Oil Ind. 42%; St Oil Ohio, 34%; Texaco, 30%; Texas Inst, 87%: Union Oil. 35: Union Carb, 46%: US Steel. 22%; Westing, 25%; Woolworth. 17%; Xerox. 39.
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Press, 19 April 1982, Page 26
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360Wall Street last week Press, 19 April 1982, Page 26
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