Stocks gain ground but fail to beat record on rate doubt
U S stocks edged higher on Wednesday with the Dow up 10.06 to 3369.41 as demand at a Treasury auction steadied markets. Volume traded on the NYSE was 198.46 million shares. Airlines led gains with USAir jumping 1.5 to 144.5 amid pilot talks. Delta, British Airways, KLM, and UAL also rose. Auto shares advanced as Ford announced a 650 million retooling plan and Honda climbed.
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Judge sets reorganization hearing for Popeyes unit
U S Bankruptcy Judge Frank Monroe will open a July 27 hearing on two plans to reorganize Al Copeland Enterprises Inc. The New Orleans based company, owner of Popeyes and Church's chains, is in Chapter 11 since April 1991 after a large buyout loan. Canadian Imperial Bank of Commerce supports one plan seeking Copeland's removal, backed by Merrill Lynch Co and the unsecured creditors committee.
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New York Stock Exchange Quotes Mixed on Early Trading
In a chaotic display of ticker symbols and numbers, Wednesday session quotes show mixed moves across divisions. Traders note volatile volume and fluctuating price-earnings metrics as the market digests bank and industrial listings.
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NEW York Stock Exchange
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