Dow Edges Up in Holiday Like Session on Blizzard News
Stocks traded higher on Monday as a blizzard kept many traders home and delayed market openings. The Dow rose 16.25 to 5197.68 while the Nasdaq slipped amid thin volume. Lockheed Martin agreed to acquire most of Loral for about 45.50 a share, lifting defense stocks and sparking talk of postwar consolidation.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
NYSE
Amex
Brian Belski
Davi Bosworth Inc
Minneapolis
Belski
Standard & Poor
Baltimore Gas and Electric Gets 5.1 Percent Gas Rate Increase
The Maryland Public Service Commission approved a 5.1 percent rise in BGE natural gas rates, the first base-rate increase in three years. A typical gas customer will see about $3.38 more monthly on heating bills. BGE notes $116 million spent on gas system improvements over three years, serving about 540,000 customers in Baltimore and nine central Maryland counties.
MENTIONED IN THIS ARTICLE
Baltimore
Maryland Public Service Commission
Baltimore Gas and Electric Co
BGE
Maryland
Lockheed to buy Loral for 9.1 billion in deal
Lockheed Martin Corp will acquire most of radar maker Loral Corp for about 9.1 billion dollars in cash per share 38, with Loral Space and Communications forming a new company in which Lockheed would own 20 percent valued at 344 million. The combined group would exceed 30 billion dollars in annual revenue and include Loral’s defense radar lines along with Lockheed’s aircraft and electronics units. Bernard Schwartz of Loral becomes vice chairman of Lockheed and joins its board. The deal hinges on two thirds shareholder approval and antitrust reviews with expected close by month’s end.
MENTIONED IN THIS ARTICLE
Lockheed Martin
Loral
Westinghouse
Northrop Grumman
Thomas J. Czech
Summit Investment
Milwaukee
Boeing
General Electric
Litton
United Technologies Corp
Federal Reserve
Washington
Mr. Czech
Dow
Exxon
Texaco
Homestake
Newmont Mining
Chantal Pharma
Barron’s
New York
Lockheed Martin Corp
Loral Corp
Lockheed
Martin Marietta Corps
Loral Space and Communications Corp
Northrop Grumman Corp
Defense-Electronics
Westinghouse Electric Corp
Boeing Co
McDonnell Douglas Corp
Hughes Electronics
General Motors Corp
U.S
Daniel Tellep
Bernard Schwartz
Loral Space
Schwartz
Augustine
Grain futures open high low last and change on Chicago Board
Grain futures report shows Wheat prices at 4g 490 856? 468% highs and lows with Last values around 463 to 445 per bushel. Trading notes include 27,881 sales and open interest near 100,647 as of the session.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Board of Trade
Auto dealer loses bet on snowfall in New York
Potamkin Automotive Center promised free leases on cars if Central Park saw more than four inches of snow on January 8. A blizzard dumped heavy snow as over 100 customers cashed in, renting Cadillacs and Buicks while leases cost 200 to 800 dollars monthly. The Times reported the dealer expects to absorb the leases, though customers must pay sales tax.
MENTIONED IN THIS ARTICLE
New York
Manhattan
Potamkin Automotive Center
Central Park
New York City
New York Times
Paul Koka
The
Times
Connecticut
Long Island
Koka
Potamkin
the Times
Jan
Also Mentioned on This Page
Dow Jones Industrial
Kmart Life Tech
Fats Loral Corp
Alpha Ind
Lowes
Loyola Corp
Crestar Financial Su
Unwigd Arriott
Avemco
Dlh
MCI
TAX & Financial
Frederick News-Post
Jessie Hetzler
Frederick
Scottsdale Securities Inc
Scottsdale
Oi & Gas
Scottsdale Securities, Inc
Discount Stock Brokers
Executive Blvd
Rockville
SIPC
Cali
Schwab
Quick & Reilly
Fidelity
Orde
West Main St
Middletown
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