OCR Text |
Show A Wednesday, August 26, 1992 The Daily Herald Novell earnings rise 53 percent PROVO Novell Inc. posted a 53 percent gain in profits in the third quarter, and credited strong growth in the sales of its network computing software products and services. The software maker's profits rose to $66 million from $43 million in the third quarter last year. That profit boost came on a rev enue increase of 45 percent, from $168 million in the third quarter of 1991 to $243 million in the quarter ending Aug. 1. For the first nine months of Novell's fiscal year, revenue was up 49 percent to $673 million and profits were up 60 percent to $179 million. Per share income is $1 . 17 so far this year, up from 76 cents last year. - "- r jJmI' - jf fit and interviews with bank lawyers, said Hatch and an aide were essential parts of BCCI's efforts to escape Senate scrutiny and avoid bad publicity after the bank pleaded guilty in 1989 to the federal charges of drug money laundering. BCCI is at the center of a worldThe powerful Utah Republican wide scandal involving alleged once stood up on the Senate floor laundering, arms trafto staunchly defend BCCI's plea drug money and ficking support of terrorists. It agreement with the Justice Departwas shut down last year. indictment in a Last month, former Defense ment in Tampa, Fla. Hatch also Clark Clifford and his Secretary has acknowledged he asked the protege, Washingtoa lawyer Robbank to lend money to a Houston ert Altman, were indicted in the businessman. probe. They both pleaded innoBut The New York Times recent. BCCI lawyers and the senator's ported today that Hatch was working behind the scenes on behalf of longtime aide, Michael Pillsbury, the bank when he pressed BCCI to told the Times that Pillsbury, at loan $10 million to the close busiHatch's request, offered the lawness associate. yers advice on how to counter anThe Times, citing documents other Senate inquiry. NEW YORK (AP) U.S. Sen. Orrin G. Hatch tried to help the Bank of Credit and Commerce International escape Senate scrutiny after the bank pleaded guilty to laundering drug money, a newspaper reported today. v money-launderin- AP Photo Compact color e to use pictures stored in its fledgling electronic photo system. The new products will hold images from 35mm slides or negatives. Eastman Kodak Co. technician holds a Photo CD which Kodak plans to use in introducing ways for consumers and business- - workers to get trade act benefits J Mil Y '- An Oil Report offers new view of Match's defense of BCCD g - Dollar's fall may hurt interest rates Buyers taking advantage of falling mortgage rates - SALT LAKE CITY (AP) Workers laid off at Coors Energy Company in Roosevelt since April 1991 are now eligible to get federal benefits, the Utah Department of Employment Security announced. The Federal Trade Act provides that the former workers get unemployment insurance payments, job search and relocation help, and payments for approved training, said Terry O. Burns, unemployment insurance director for the Utah Job Service. Coors told the state it has had no layoffs since May 29, but if additional workers are laid off before July 27, 1994, they will be eligible for the benefits. Laid off workers can apply at Job Service offices in each Utah countv. Dollar shows rise; gold slips lower - The dollar LONDON (AP) rose against key European currencies today. Gold prices were lower. In Tokyo, the dollar closed at 124.95 yen, up 0.10 yen from Tuesday's close. Later in London, the dollar was quoted at 124.74 yen. Other dollar rates compared with late Tuesday: 1.4030 German marks, up from 1.4020 1.2570 Swiss francs, up from 1.2475 4.7860 French francs, up from 4.78 15 SfiesEic - WednesNEW YORK (AP) Ex Stock New York noon day's selected prices: change 6- Albtsn Al?an 40'.'. ... AldSgnl Alcoa 51W It' Amax 64ll4 17 AroHes ACyan 59 v AElPw 32 ... AHome 73- -'. AltitGr 93- -l4 AT&T 42' Amrtch Arfioeo Anheus Armco AtlRich Atlas ... 48L4 ... 50'- -l4 53 4 Avon 50l4l4 BakrHu BankAm 2- 3- BellAU BellSo Boeing BoiseC 49' 5- 4-' 42' 17V4 37 27 BrMySq 674 BritPt Bmwk BurlNth 44 12 CascNG 24 46 Caterp Ceridian Chmpln Chevrn Chiquta Chryslr CocaCls ColgPal 33- DanaCp Deere FMC FIntste FordM FrptMct 37' ... 1 3- 533 29 5- 31950 '- 44 7- 56- 3464 3- 640 63 Grace Halbtn 35l4 33 HeclaM HewlPk ... ... 9vi-- V4 t- 56v12 Wtl 65 Honwel ITTCp IdahoP 2- intPap 611- 9-' 86- 4- vjLnStr LaPac s MartM McDonld McDnD McKes Merck s MMM Mobil Monsan MonPw Nil NtSemi Navistr Nerco 114 2 44 6-' -x- 4 '-' 544 42W4 40 36 Jones average of 30 industrial stocks was up 1.35 points, 22.70 over the past 24 hours, at 1 SCEcp SaftKl 4- 626- 4- SFePC Sara Lee ScottP Sears SierPac 36 11 54'. 41- 6- 828". 52 1914 ... ... ... 2 ... NwVall NflkSo 5- Nortrp Norwst 36 25 Nynex 84- OcciPet oun 19 OutbdM 16 19 4- ... -4 ... 4- 2- ... 3- 243' ... 22 67 3- 7- Hiier 80 PhelpD 1 philMr philPet polaroid popeTal portGC poutch 47- -- 79' 28 ... ... 31 13 19 43 - 1- 6- 28 2- GnMotr 53 ... ReyMU Rockwl Roy ID 64' 38 37 27 ... 7- 13 2- 4- post-Wor- ld m 43'' Before the dollar's fall, many economists believed the central bank pressured by the Bush administration might well have attempted at least one more reduction in short-terinterest rates. UITA AMEX pre-electi- m Now, another easing of AsofcUwing NYSE Diary Advances? 794 Declines; $50 Unchanged; 764 Total Issues; 2,148 Total volume: 73,670,000 1991 average volume: 171,000,000 AP 24 K USX Wash. Walcr&Power WalMart 24 574 574 slim chance the Fed could be forced to raise rates to support the dollar, economists say. An increase would dampen economic activity as the nation struggles to shake off effects of a recession that officially began two years ago and still has not been formally declared over. And it would come during an election campaign in which Bush repeatedly has pointed to low rates as an economic bright spot. -4 ' 9 2- 73- 557 Apple Computer Duriron First Security 32' 29 74 6 Ask 44X 2414 23 23 7 23' 7 2 s 46 Novell 16 Bid 43U Iomega Larson-Davi- 66 3V4 3V4 4K Sage Analytics Valley Nat Corp Wicat Zions First Nat'l. 14 4'i 14 484 48 414 4V4 56VS 5514 DOW JONES AVERAGES VOLUME 201 .630.000 25... Close B-- 4 Abbott American Stores Am. Exp. Avnct AT&T BoiscCasc. Commodore lnt Eastman Kodak Geneva Steel Hercules Inc. Intl. Bus. Much. KansasGas&Elcc. Fred Meyer Marriott 30 36 20K 30 35 274 27 H 42 'A 42' 'A 21 174 7'4 Wh 43 V4 7 14 444 34 56 85'4 30 U 25' Existing home sales first-tim- 30-ye- ar e, said. The mortgage rate was the lowest since July 1973 when they averaged 8.05 percent, according to the JFMAMJJ 1992 ASOND 1991 Federal Home Loan Mortgage Corp. Mortgages averaged as much as 9.03 percent in March. The sharp drop followed the Federal Reserve announcement June '92 July '91 July '92 3.48 Source: National Association of Realtors AP 16.46 11.24 14.50 21.27 22.59 1843 19.57 9.32 9.89 15.59 16.55 7.65 8.12 Bid Ask Option Income 14.64 14.64 EquityGrowth 1838 18.38 16 08 16.08 8.62 8.62 Intl. Equity Div. Strategic Tax Exempt High Inc. Bond 65 17.65 1124 11.24 35 '4 55 SVM 30 U 2514 16 48'i 14 41 41 22 2216 PKiliCorp 224 224 Pinnacle West (AZP) Pub. Svc. of Colo. I9H 194 2814 284 134 I3'4 29?4 294 19 28 '4 M Ruby, Diamond. Emerald, Sapphire Buy rings from $100 to $500 . . . fromor$750 to $1500 . . . from $2,000 to $ 5,000 and choose any otner ring cquai vaiuc auwiun-i- rucci Topaz & y Appreciation Fndmntl Value Global Managed Govt High Yield Managed Muni Precious Metals f Diamonds Buy Mounting FREE 8fc Aa Solitaires v Buy 1, Get 1 Buy 1, Get GROUP Bid Ask 18.67 19.74 10.17 10.71 7.14 7.52 24.40 25.70 12.91 13.97 13.60 14.71 15.95 13.40 16.80 14.10 Ruby & Diamonds FREE Rings Emerald & Diamonds jfS Buy 1, Get 1 FREE FREE Wedding Bands t marshmallows Keep fresh by storing them in the freezer. i Diamond L? J Earrings Buy 1, Get Pendant Buy His, Get Here FREE FREE Sapphire & Diamonds And If That Weren't Enough, Oioum From Thousands Of Other Gorgcou Provided lo The Dally Herald By Shearwn Ihman Brothera A American Exprra Company 1 Diamond Diamond 7 Diamonds 17 SHEARSON Growth GOLD PENDANTS RINGS O GOLD CHAINS EARRINGS SHEARSON SPECIAL PORTFOLIOS 7 l64 nVt 324 16.46 11.24 714 48 191 9.82 4.78 13.80 Templcton Global Open Close 40 39 9.82 4.78 25.39 26.95 Putnam Voyager Templeton World .89) 1.35 McDonalds Svntcx Telcncx -- Pioneer II Ohm Edison Oxidental Pet. Smith s Food Drug Savin Bus Mach. 2 Keystone Keystone Tax E Oppen Special OppenHighY. Pioneer Fund 4.05) NEW YORK STOCK EXCHANGE Alhensons Bid Ask 17.08 18.69 13.17 13.98 18.58 19.73 Eaton Vance Muni Keystone ( group reported today . The Midwest and South paced the increase, while sales in the Northeast and West held steady. The National Association of Realtors said sales of existing homes nationally totaled 3.48 milSeasonally adjusted lion at a seasonally adjusted annual annual rate, millions ot units rate, up from 3.35 million in June. It was the first increase since a 0.6 percent advance in March. Sales subsequently fell 0.6 percent in April, 0.9 percent in May and pin 3.2 percent in June. Many of the sales in July were to e home buyers lured by fixed-ratmortgages that fell to an average of 8.13 percent during the month, the Realtors now r.ic.c 2 454 Omni Films Rky Mtn. Helcptr AmCapComstock Am Cap Pace FD Am Cap Venture Open - Bullock & Losee MITl'AL FINDS ( July 2 that it was slashing its key discount rate to 3 percent from 3.5 percent. At the same time, the fedWASHINGTON eral funds rate fell to 3.25 percent Buyers rushed to take advantage of falling from 3.75 percent. The discount rate is what the mortgage rates in July, boosting sales of previously owned homes Fed charges commercial banks for by 3.9 percent for the first advance loans. in four months, a real estate trade By JOHN D. McCLAIN Associated Press Writer OVER THE COUNTER August 25. IW2 32?2.22 mone- tary policy is remote and there's a 1 49- Xerox ZenithE -' PunServN.Mcx 45- 45- 089 NYSE DOW (Industrials) 13 36 Weyerh Wolwth Gen.Tel.&Elcc. pugetP Quantm QuesUr RalsPu 34 ... ... pSvCol 68 19' 37 411.61 383.181 ProctGi GnMiU Teldyn Tennco Texaco Texlnst Textron Timken ToddSn Transm 4 S&P Index 500 S&Plndcx 100 45 12 7- UCarb UnElec UnPac s Unisys Unocal Varian WalMart WamL WstgEl 6- 426 12 August 26, 1992 (noon EDT) 25' USXUSS ... ... 37 38' 19' USWst USXMar -4 19' SouthCo SwBeU Syntex TRW - 104 UALCp - ... 27 22 Trinova 1216.47 40... 4- 7- 74 TriCon Transportation 52 Market indexes 30-ye- ar gy- Advancing issues outnumbered declining ones on the New York Stock Exchange, with 794 up, 650 down and 704 unchanged. Big Board volume totaled 73.67 million shares, down from 97.03 million at the same time Tuesday. The NYSE composite index was up 0.59 at 227.06, an increase of 1.4 since noon Tuesday. At the American Stock Exchange, the market value index was off slightly at 379.51. The market has focused in recent days on the declining value of the dollar against foeign currencies, especially the German mark. The drop has been prompted by a wide gap between U.S. and German interest rates. The Dow lost more than 100 points in four sessions before posting a slight gain Tuesday. 51 98 Primca 7- de- clines. At noon on Wall Street, the Dow Industrials 13 n dol- lar rose after posting sharp ... 10 PacEnt pacGE pacTel PacifCp Penney PepsiC Stock 23' 44l4 24- MDU - NEW YORK (AP) prices rebounded today as the Cl!E!C3 '- 4- m er interest rates as those charged on mortgages, climbed on Monday for a second consecutive trading day as the dollar plunged War II again to a new low, measured against the German mark. In New York, one dollar bought 1 .4030 marks, down from the previous low of 1.4315 marks set only last Friday. Analysts say the stumbling greenback makes it increasingly difficult for the Federal Reserve to engineer another reduction in short-terrates, its prime weapon for fighting the economy's lethar- ... 274 jRiver K marts bond rates, which Long-terserve as the base for such consum- - Stock market prices rebound 6-' INCO IBM praxar v. 19... 35 GaPac ... ... 37 GTE Gannett GenCrp GnDyn GenEl GMEl '- 42... 54 ... 36 Dressr DuPont EKodak Eaton Exxon ... 19 30 Dole DowCh ... 71- 417 ... ConEd Digital Disney 1 .. 24 Comsat DialCp . ... 144 ... 17 39 vJColGs Goodyr Vi ' Litton s Locknd Loews -l4 113- 4- Borden 55' Hmstke 69v 6- Gillete Gdrich at a bad time for the economy and President Bush. WASHINGTON The precipitous drop in the dollar is putting Tektrnx Stock Last Chg 5AMR upward pressure on interest rates By DAVE SKIDMORE Associated Press Writer Bullock & Losee J W L R S Buy 1 Get 1 FREE Itrma! Jewelry enlarged to show detail Open a Ballock & Loeee Charge All Major Crerdit Cards Accepted Orem University Mall 225-038- 3 |