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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Mar 14, 1977
Page
6
IBM's buyback spree leaves shareholders about $2 billion richer since February 22 as the company buys up to 5.5 million shares at 280 with 270 125 market price claimed. analysts see liquidity and an overhang of stock affecting institutions seeking to sell.
IBM’s $280 a share tender offer for up to 5.5 million Mirror Machines shares drew quick buying. After extending the offer to March 10, only 2.55 million shares were acquired, leaving the minimum goal unmet and traders viewing 280 as a support level rather than a ceiling.
New York AP stock quotes show Dow Jones 30 industrials at 950.63, up 2.91. transportation 224.82, up 0.34. utilities 108.69, unchanged. Selected late national prices list numerous stocks with varied highs lows and last prices across Amex listings and major firms.
The passage displays numerous stock figures and company abbreviations on the American Stock Exchange and related markets. It includes prices, highs, lows, and percent changes for many brands such as PepsiCo Pfizer Textron Texaco, alongside other corporate entries and media references from March 14, 1977.
In Phoenix a Honeywell reclamation program trains disadvantaged youths by disassembling obsolete computer systems. Up to a dozen students learn shop skills, warehousing, and retail handling over three months, earning high school credits and pay while aiding inner city job placement.
The Salt River Project will offer 200 million dollars of municipal revenue bonds for sale on March 24 as the second portion of 365 million authorized through 1977. Bonds in 5000-dollar denominations will be 1977 Series A dated April 1 1977 and deliverable around April 6. Serial bonds mature 1980 to 2000 with term bonds due 2007 and 2017. SRP President Karl F Abel cites financing needs and favorable rates.
Photo studios join Ted Hill Photography and Bill McLemore Photography have merged into Photography Unlimited located at 3815 N. Brown Ave. The new full service studio will handle portraits events conventions commercial advertising aerial architectural industrial and fine arts photography and remains a division of Unique Inc with the same personnel and officers.
New York stock market opened modestly higher with the noon Dow Jones average up 1.33 points to 949.05. Gainers slightly outpaced losers by about 3 to 2 among NYSE listings, following last week's 5.74 point decline.
London gold 144.75 down 55 cents per ounce. London May coffee 2.97 up 8 cents. Cocoa 1.85 up 0. Sugar 10.8 cents up 0.1. IMM June gold 147.20 unchanged. Silver 4.80 and 3/10. Copper 70.5 cents up 1.1. Wheat 2.72 down 2 cents. Corn 2.52 down 1/4. Soybeans 8.23 up 7. Soybean meal 229.00 down 2 cents. Soybean oil 22.35 cents up a fraction.
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