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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Dec 27, 1978
Page
9
A condensed market brief surveys numerous tickers including Chrysler Coca Cola ConEd Exxon Ford GM and Dow movers. The report lists price movements and percentage changes across major sectors and notable companies reflecting intraday shifts.
In New York the stock market extended its yearend rally for a fifth straight session. The Dow Jones Industrial Average rose 7.54 to 816.01, powered by IBM climbing 14 points to 309 at the 4 p.m. close, its highest since 1973, with gains tracing to December 19.
IBM announced a dividend increase and a 4 for 1 stock split next spring, lifting its stock more than 10 percent from 271 before the news. Other issues, including Xerox, Texas Instruments, Philip Morris, and Johnson & Johnson, also rose amid mixed economic signals and a modest CPI gain. Banks raised prime lending rates while key indices edged higher on light volume amid post holiday trading.
The Cleveland Press trimmed its afternoon editions to three sections to conserve newsprint during a five month strike by paper mill workers. The move will continue until supplies are normal again.
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