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Show . I D Financial Markets C5-C- 7 S Mutual Funds C6-C- 7 D Local Highlights C7 Thursday, November 21, 193S' The Daily Herald I Market in brief l November 20. 1996 Dow back obi to at record! 8430 Performance of key stock markets Previous close Percent change NYSE ..DOWtlndustrialvi Milan Amsterdam Z09 46j Xb. 0.5 Brussels 10415 S&P MidCap Paris 1666 91 0.4 't;: Most of the NEW YORK major US market indices closed in record territory Wednesday, with blue chips leading the rally as fund managers continue to pour money into stocks. "The market held up v ery well despite the fact that IBM closed down. It's not surprising, in general another new high." said Don Fredell. senior managing trader at American Express Financial Adv AMEX S&P500 , By DOMINIC G. DIONGSON Bridge News Frankfurt NASDAQ 2240 05 o.3 Sydney 2366.0 2764 09 1.1 0.4 Tokyo Hong Kong A. NYSEDiaiy 0.8 A 13056 93 ittEBffl 20956.18 1.1 all-tim- Advanced: 1,388 Declined: 1,073 Zurich London 0.4 L 3978 0.2 1 . 3892 6. 858 Unchanged: MARKETS Amsterdam si CBS-ne- FranKluti. DAX Hong Kong: Hang Tokyo: NikKei. Seng London. FT 100 Pans: CAC-4Sydney All Ordinaries Zurich: Credit Suisse. Brussels Composite volume: 603,990,050 1995 avg. comp. vol.: 422,909.540 Milan MIB. n na holiday not available. Local Elinbllflhts -- ; Coresoft TechnoloOREM gies Inc.. a software development company providing Intelligent Communication technology, Tues- day announced it has formed a strategic alliance with Dialogic Corporation (Nasdaq: DLGC), the leading manufacturer of high per- formance, standards-base- telephony com--put- er d (CT) hardware - components. The partnership w ill focus on joint product development, integrating Coresoft's upcoming soft- ware. CenterPoint, with Dialogic's hardware and educating VAR channels about unified messaging and CT opportunities. . . 1 . LAKE CITY ' 'Oilt SALT and Gas announced I '. ' '. . - The Dow Jones Industrial Average powered to another record finish, up 32 points at 6430. in its first close above 6400. Other broader indices also e closed at highs, with the S&P 500 up 1 .76 at 743.92, and the NYSE composite up 1.00 at 392.80. The technology-lade- n NASDAQ composite index ended up 2.29 at 1264.91. off its record close of 1270.36. Shares of IBM closed 1 38 low- -' er at 152 34. snapping its streak of 5 days of gains :mid some profit-takin- g in the last hour of trading. Big Blue had traded as high as 159 at sustain those stage, but could hefty gains throughout the day. As investors continue to pour money into mutual funds, portfolio, managers have been putting that cash into stocks, notably into blue companies. chips and w Certain technology stocks in particular have been market leaders, as investors flocked to companies like Micron Technology Inc. Pioneer that the well Maverick Springs Unit 27-4- 4 in White Pine County. Nevada was completed to a depth of 9.583 ft. as adry hole with oil shows and was plugged and abandoned 1 Pioneer also announced that plans are underway to drill another Bedford prospect well. Folio Corp. TuesPROVO day announced that the American Insurance Services Croup (A1SG) Vill begin publishing electronic trtles containing insurance information databases in January 1997 using the Folio infobase format. Jhe new titles will give AISG subscribers an easy way to quickly find the precise information they need, and use it more effectively. The Folio infobase lets publishcoers distribute and llations of information in a format enables ,2iat precise searches and fnstant retrieval. multi-gigaby- te semi-structur- ed free-form- at 1 rt 135 W. Center Street, will be phasing out over the next two months. This SALT LAKE CITY week more than 1,700 Utah businesses will receive copies of two Better Business Bureau publications that contain information about local and national charitable organizations. The BBB of the Utah Solicitation Guide, which lists more than 100 different Utah organizations, indicates whether an organization meets the Bureau's "Voluntary Solicitation Standards." The standards are listed in the guide for rev iew by potential donors. Give ... But Give Wisely, published by the national Council of Better Business Bureaus, has information on more than 200 charitable organizations across the nation. These organizations are evaluated by the Philanthropic Advisory Service of the Council of BBBs in Arlington. Va. Utahns who would like free copies of the publications should contact the BBB by calling (801) in the Salt Lake City area 6 7 statewide. or H800) and Intel Corp. on the expectation that their earnings wiil be strong in the coming quarters, analysts said. Heavy volume in technology stocks demonstrated the strong demand among investors for that sector. Micron closed up 34 at 3 38. as more than 8.5 million shares changed hands, and Intel rose 18 to 120 78. on volume of 12.4 million shares making it the most active stock in the market. Market players said that while the market is expected to retreat a little on the gains it had made in the past 2 weeks, strong buying sentiment will continue to lift stocks in the short term. "We're at lofty levels here, and by next week we'll be wearing oxygen masks," said Jack Regan, head of derivative products trading at Josephthal, Lyon & Ross. But some analysts expressed concerns that while blue-chi- p stocks have consistently been leading the market higher, secondary stocks continissues and small-ca- p ue to lag behind the market's advance. "In an attempt to catch up, (investors are) pouring money into stocks. The rest of the the big-ca- p market is not going anywhere," said Michael Metz. chief market analyst at Oppenheimer & Co. While the Dow has gained more than 300 points since the US election, the Russell 2000 index of small-ca- p stocks continues to make meager gains, ending up well off its 0.58 today at 347.53 record close of 364.61 set May 22. ?rwM SALT LAKE CITY Rust Coin and PROVO "Sports Cards of Provo is consolidating operations to their Salt Lake kCation. 242 E. 300 South. Dec. 3 . The Provo Sports Card division. 1 - 5fc- - r" Vl k. jk . ii qai mj l,TT i w ' - ' m "- - ii i APPhO Traders work on the floor of the New York Stock Exchange Wednesday in New York. The Dow Jones industrial average has risen in 12 of the last 13 sessions with a gain of 4CS.09, or nearly seven percent. EEOC wants in on Texaco discrimination lawsuj By JIM FITZGERALD Associated Press Writer The Equal WHITE PLAINS. N.Y. is seekCommission Employment Opportunity ing to participate in the SI 76 million settlement of the Texaco discrimination lawsuit, saying it wants to make sure the deal leads to changes at the oil giant. The 994 suit claimed a "good old boy" at Texaco ensured that whites received the best promotions and biggest raises. The company decided to settle after plaintiffs obtained a secretly recorded tape of company executives belittling black workers and plotting to destroy 1 net-wo- rk documents. The EEOC on Wednesday asked court permission to participate in the settlement. Chairman Gilbert Casellas said his agency wants to make sure it produces the changes needed for relief at Texaco." "real long-terThe EEOC did not take issue with the terms of the deal: Casellas called it "historic" and said the money appeared to be adequate. Meanwhile, Texaco has hired a black-ownad agency, UmWorld Group, to create ads aimed at boosting the company's profile among minorities. The Wall Street Journal reported today. The first UniWorld ads are to appear next m ed week in publications and on radio stations, geting minority audiences, Texaco spokesmai Yonck Fonseca told the paper. "This is directly addressing the issues iajsea in the last two weeks, Fonseca said. The settlement announced Friday calls lor $115 million cash payment to about 1.40Q fo mer and current black workers, $26 rmHioiri pay raises over five years for blacks and.53 million for a task force to recruit black wberl monitor discrimination and develop diversit and sensitivity training. Texaco said it believed the EEOC would concur with the settlement, which mustb approved by a federal judge. 487-465- 456-390- ConstrucOGDEN Big-tion Corp. broke ground this w eek on a new 9.000 square foot corporate office building for Ringmasters. The office complex will be located on a hill overlooking South Ogden off Combe Road and Harrison Boulevard. It scheduled to be completed by May 1997. Ringmasters designs and distributes corporate, public safety and religious products including class rings, badges, embroidered patches, lapel pins, tie tacks, commemorative items and promotional jewel-rThe company operates from offices at 422 39th St.. Ogden. D Compaq settles state investigation ! Virtual Vision NEW YORK Contrary to hot market interest might have been rumor. Kmart Corp. isn't dis- due to optimism about Kmart's earnings. The rumor cussing a buyout w ith the Kohlberg 'Kravis Roberts & Co. investment also might hav e gotten a push simfirm. Kmart Corp. Chairman Floy d ply because Kmart's board met rlall said Wednesday. Tuesday in New York. Kmart reported Wednesday that "There's no truth to it." Hall 'told the Free Press. "I have not it earned $9 million during July. . talked to Henry Kravis or any of August and September. As corporate profits go. it wasn't much, but his representatives." it w as the second quarter tn a row : Mention of KKR. which pioand that Kmart had improved over its neered the leveraged buyout in the famous year-earlimade was performance. Com. ; Barbarians at the Gate," inspires pared with the Troy. Mich.-base- d , action on Wall Street. Tuesday, the retailer's sorry performance in the rumors helped make Kmart the last couple of y ears, and with its : loss in last year's third most heavily traded stock on U.S. .63 it $1 a sent to and up quarter. Wednesday's results were exchanges "close of $11.25. encouraging for employees and -Hall suggested that part of the investors. third-quart- er er er $69-milli- HOUSTON (AP) lira deal with 22 states, Compaq Computet Corp. agreed to work to prevent dealers from repackaging use computers and selling them &t new. The No. 1 maker of personal computers will no longer givl dealers materials such as marked boxes and factory sealic tape, which had been used"? replace cartons damaged in transit Houston-base- d Compaq wiH-allowed to prov ide dealefs wri Styrofoam and unmarked boxel for use in returning products to kt J -company. Ward Tisdale, a spokesman fw Texas Attorney General Dii Morales, said the investigation sparked by complaints that some Texans may have bought used Compaq computers they thought ' were new. The agreement, announced Wednesday, also requires trie company to pay S6.000 to each taie to cover costs of their investigations. William D. Coston. a lawyer for Compaq, said the company itself had asked the states to look into ways in which independent computer stores took care of returns of its computers. etr Coresoft TechnoloOREM a software Inc. development gies company providing Intelligent Communication technology, announced this w eek it has formed a strategic alliance with Dialogic Corp. (Nasdaq: DLGC). the leading manufacturer of high performance, standard-base- d computer telephony (CT) hardware components. The partnership will focus on joint product development, integrating Coresoft's upcoming software. CenterPoint. with Dialogic's hardware and educating VAR channels about unified messaging and CT opportunities. Briefly Kmart denies buyout rumor best-sell- n 1 v. Zions Bancorporation (OTC: ZION) and ;Aspen Bancshares (OTC: ASBK) Wednesday announced that a definitive agreement has been reached under which Aspen Bancshares w ill Emerge with Zions Bancorporation "in exchange for common shares of Zions Bancorporation. The merger , subject to the approval of Aspen shareholders and banking regulars. The transaction is expected to close late in the first quarter or ear-- " Tvin the second quarter of 1997. Z 7Wx vl AP Photo Peter Puskarich, project development manager for VirealMulti-tec- h Industries Inc. of Columbus Chio, demonstrates their nBw Cybervisor 3D and Total Control Virtual Joystick at the compa- - exhibit during Comdex Wednesday, Comdex, the largest trade show in North Amer- ica, is showing at the Las Vegas Convention Center this week. nys Saturn creates tough customer in Japan TOKYO (KRT) Barely a decade ago. the grow ing popularity of Japanese cars inspired General Motors Corp. to create Saturn as its secret weapon. import-fightin- g Now that Saturn has shown that it can compete with the Japanese at home, it's beginning a new taking on the Japanese in Japan. challenge Thursday in Tokyo. Saturn is to break w ill bring ground for one of 14 dealerships that but so far unduplicated. d its philosopricing and customer-coddlin- g phy to the world's pickiest car customers. Friday, it w ill unveil its three the upscale SC2 coupe. SL2 models at the Osaka sedan and SW2 station wagon first newsits same the Auto Show, day Import paper advertisements appear explaining the Japanese translation of Saturn's ''Different often-imitate- no-hag- Kind of Car Company " mono. Wednesday, Saturn of Japan launched its Web site on the Internet (www .satumjapan.com). Mone customer information day, it opened a phone line to fulfill requests for Saturn brochures. Saturn won't start selling cars in Japan until April. By then, it hopes its message w ill have culture know n begun to' permeate a for cutthroat negotiating and relentless pestersalesmen. ing by Establishing a presence in Japan might prove easier than accomplishing its original mission: reclaiminc American customers who forsook GM cars In the 1970s and 1980s for Hondas, Toyotas and Nissans. Most auto critics agree that Saturn's cars have never quite measured up to its best competitors from Japan. But customers loved the toll-fre- car-buyi- door-to-do- or friendly way they were treated, from the showroom to the sen ice bay. Whatever differences exist between kijart and the competition's. Saturn plans to bridge with customer artentiveness bordering on romantic courtship. Yes, female buyers really do get red josej upon delivery of their new Saturns. Among early dealer recruits, enthusiast appears genuine for Saturn s approach. Daisaburo Tabata, who has exclusive rights id sell Saturns in the Kyoto area, has been wfitwi lnt 4QKfk to Saturn sine the ..J ... ttw rrwis MIW ."I S. " find .J in ' ' that it might someday enter the Japanese market 4 Tabata fits Saturn's ideal dealer profile, w who is be a to "Somebody illing pjorscer someone who is experienced but whotnows' there's room for improv ement" Haag f a - - 4 |
