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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
May 10, 1982
Page
17
New York reports show a broad market snapshot with numerous listings across Amex and NYSE sectors. Key firms like Allied, Chrysler, CocaCola, IBM, and General Electric move in varied patterns while dividends and price changes color the day’s composite table across eight markets.
Volkswagen markets the Quantum as its most technologically advanced model in a new flagship line for the 1980s available as a two door coupe four door sedan and wagon. Priced from 10250 to 10950 plus 520 for the standard stereo and 800 for the GL package the Quantum seats four with a 1.7 liter fuel injected engine and five speed gearbox. The car is made in Germany and tested with an emphasis on its luxurious quiet interior and precise controls despite excessive power assist steering.
Prices opened lower Monday as active trading began on NYSE issues. The Dow Jones average stood at 867.95, down 1.24 points after rising Friday, with a 20.84 point weekly gain and a 73.73 point rise since a March low. Early turnover ran about 3.75 million shares as analysts expected profit taking after last week's advance.
AP Business Writer notes May and June have historically been weak for stocks with Dow averages slipping in spring, but analysts like Yale Hirsch and Merrill Lynch Market Letter see potential for consolidation and continued rally. They cite opportunities in quality issues amid a recovering market stance.
Houston based Coastal Corp reported a first quarter revenue drop to 1.6 billion dollars from 1.8 billion. Net earnings for the quarter totaled 6 million dollars.
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