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Newspaper
Decatur Daily
Location
Decatur, Alabama, United States of America
Date
Aug 23, 1973
Page
10
New York Stock Exchange afternoon prices show varied movement among large and mid cap names. Notable readings include ADMIRAL, ALLIS-CHALMERS, AMERICAN MOTORS, AT&T, BOEING, COCA COLA, CONED, COREL, and GENENTECH among others with mixed highs lows and last sale values reflecting market volatility for the period.
New York Polaroid dominates the instant print photography field with a strong product pipeline and Wall Street optimism. Yet the company has failed to deliver steady earnings growth, repeatedly disappointing its most devoted followers.
NASD quotes show Polaroid at high price earnings but Oppenheimer lowers 1973 earnings to 1.65 a share and 1974 to 2.60 as the SX-70 launch slips. Block trades and heavy volume follow, with analysts revising estimates while some remain bullish about medium term earnings.
Wall Street moved higher as a technical recovery from a five-session drop appeared. Dow Jones rose 9.33 to 861.23 at noon, NYSE index up 0.49 to 54.04, Amex up 0.03 to 22.77, with Southern Co leading volume. General Motors recovered 1% to 62 1/2 after August sales were announced. Polaroid gained 4 to 114 1/2 after prior losses. Syntex rose 3 to 88 1/2 on fourth quarter earnings up to 80 cents a share.
Decatur markets show Cotton at middling inch with a 20.45 loan, Cottonseed at 40 per ton, Grade A milk at 6.55 per hundred, and processing milk 3.20 per hundred. Grains list No 2 Soybean 7.22, No 2 White Shelled Corn 3.15, No 2 Oats 0.80, No 2 Milling Wheat 2.70, No 2 Barley, No 2 Yellow Shelled Corn 2.20. Wood priced 65.45 and 35, Pulpwood 15.25 per cord.
Quarles is appointed Selective Service System registrar for Morgan County by Felix R. Petrey. He is executive officer of the 142nd Signal Group, Alabama Army National Guard unit in Decatur. Registrations run 60 days before a man’s 18th birthday with hours at Decatur and Huntsville locations.
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