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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jun 09, 1992
Page
16
A read of the day’s NYSE quote stream shows chaotic figures across stocks, currencies, and indexes with fragmented prices and codes. Numerous tickers such as Aran, Avan, and Sheik appear amid scattered percentages and volumes, reflecting a noisy transmission rather than clear market moves.
Stock prices closed mixed in a session of fits and starts as investors weighed Federal Reserve credit policy and interest rates. The Dow rose 5.44 to 3,404.13 while decliners edged gainers on the NYSE. Abbott Labs fell 4 to 27% after withdrawing quinolone. Gulf States Utilities edged up 1% to 15 34 as Entergy slipped. Gulf States and Entergy announced a merger plan with a $20 per share cash or stock option.
William G. McGowan founder and chairman of MCI Communications Corp died at Georgetown University Hospital after a heart attack at age 64 He had a heart transplant in 1987 and remained CEO until last December His fight with AT&T helped spur the antitrust case leading to the 1984 breakup of the monopoly and expanded long distance competition from Chicago to St Louis and beyond.
In Dallas jurors awarded 124 million to former Triton executive Jimmy Janacek for wrongful firing over disclosure failures. Punitive damages reached 75 million plus 5 million to chairman William Lee. In Houston Compaq announced Systempro refresh with up to 20 percent price cuts and up to 70 percent performance gains. Dallas appraisal officials voice concern as property values protest season looms amid rapid market shifts.
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