Market drifts rather than dives analysts say
Wall Street analyst Stanley Lanzer says the market is drifting as investors wait for direction. He notes individuals and institutions sit on the sidelines, with a lack of bids and no sustained buying program causing the gradual decline. The view emphasizes indecision over panic.
MENTIONED IN THIS ARTICLE
Helen L. Call
Copley News Service
Wall Street
Stanley Lanzer
Drexel Burnham Lambert
William Witter
Market optimism grows as investors eye long term gains
Lanzer's firm stays bullish on stocks despite a consumer spending pause. They foresee dividends rising about 15 percent next year and favor nondurables like Kresge Sears Allied Stores, plus IBM Sperry Rand and Burroughs. Utilities gain from rate relief while capital needs ease.
MENTIONED IN THIS ARTICLE
Lanzer
U.S. Cor
Kresge
Sears
Allied Stores
IBM
Sperry Rand
Burroughs
Tucson Gas and Electric
Tampa Electric
General Telephone
Public Service Electric and Gas
Dow
Value Line
Postal Service
Allis-Chalmers
American Airlines
Cooper Tire and Rubber
Crouse
Dow Jones 2 P.M. Averages and NYSE Prices
New York AP report shows Dow Jones 2 p.m. averages with 30 Industrials at 934.42 down 1.50, 20 Transports at 204.75 up 0.12, 15 Utilities at 96.88 up 0.51, and 65 Stocks at 295.31 up 0.57. Selected late NYSE prices list numerous issues with bid and last prices and percent changes, highlighting Am Can, IBM, Exxon, Ford, Coca Cola, General Electric, and many others.
MENTIONED IN THIS ARTICLE
NEW York (Ap
Dow Jones
Indus
Trans
Uul
New York Stock Exchange
AMF Inc
AdmsMillis
Arizona
AlcanAlu
Va AllegCp
AllisChal
Alcoa
Amax
AMBAC
Ameipw
Anatr
AmStand
Amt&t
Ampinc
Ampex Corp
ApecoCorp
ArchDan
Armco
Asarco
Va AshlOil
Bauschl
Beckmn
Beker
BellHow
Bendix
Bengt B
VA BethSd
Blockhr
BoiseCas
Borden
BorWar
ArmstCk
Asddrg
Boeing
Stock Market Slips Amid Economic Slump Concerns
New York Dow Jones average fell 1.50 to 934.42 as traders passively watched a slow economy recovery. Volume on the Big Board stood at 11.10 million shares with more losers than gainers, while earnings reports and market resistance levels kept investors cautious. Tandy stock led activity, rising to 35 percent.
MENTIONED IN THIS ARTICLE
New York
Dow
Business Council
Tandy
NYSE
American Exchange Prices Selected National Levels
The American Exchange in New York reports selected national price levels for key commodities and financial indicators, reflecting market trends and daily movements as compiled by the AP.
MENTIONED IN THIS ARTICLE
New York
American Stock Exchange
Commodity closings from Madda Trading Co
London gold at 115.75 dollars per ounce up 1.05 with IMM Dec gold at 117.00 up 2.10. Dec silver 4.21 8/10 up 4.5 cents. Dec copper 58.2 cents per pound up 0.3. Dec wheat 2.894 down 5.34. Dec corn 2.63 down 2.4. Nov soybeans 4.191/2 down 11. Dec soybean meal 177.00 down 4.20. Dec soybean oil 20.37 cents down 0.3. Dec live cattle 41.67 down 13. Dec live hogs 32.12 down 1.10. Feb pork bellies 49.37 down 1.80. Dec fresh eggs 64.65 cents down 0.45. Nov plywood 170.70 down 0.70. Dec cotton 79.82 up 1.67. Mar sugar 8.75 up 0.04.
MENTIONED IN THIS ARTICLE
BurtNo
Burrghs
Buttesg O
Cal Finani
CaroPw
CarrCp
CartWall
CastiCk
Chasem
Chessie
Chris Craft
Chrysler
Citicorp
Clarke
Civesul
CloraxCo
CocaCol
Bove— ColgPal
ContAir Lin
Cooperin
Cork
Curtis Wr
Dartind
Va Deere
Delta Air
Dennys
Disney
Dow Ch
Va Dresser
duPont
EastAirLin
EnsEkd
Eaton
EmerEt
Enserch
Esmark
EvansPd
Exxon
FairCam
We Fedders Co
FdFair
Formmck
Freepm
Fruenf
Gafcp
GamSk
Gannett
Myr
GenMills
Gtelel
Gtire
Genesco Inc
GaPacif
Gerber
GettyOn
Gillette
Global
Goodrh
Goodyr
GulfOil
Harrisnt
Harris Va VW
Houshf
Houstp
iCinds
Inacp
Idahop
idealBa
E— Ve KnigtRid
Koppers
Kraftco
Kresger
Kroger
LTV Corp
LehPet
Levitz Furn
Milgo Elect
Ninmm
Mtf Uel
MiStTel
Ncrcp
Nabisco
Impicpa
Itek Corp
McDaid
INCO
IBM
IowaBf
Iowaps
ItelCorp
Ve Jewel
JhnMan
Ye JohnsonJn
Jostens
JoyMig
Kangel
Va Kimbel
Alo Ve Lockhd Airc
Wat Me Merck
MGM Ir
Midsut
Ve Mobil
MonPw
MorNor
Motorola
NatFuel
Va Northrp
NwstAirl
Norton
NorSim
OwensOng
Owen
Panep
Bvat Va PepsiCo
Pfizer
Pheipd
PhiliPet
Pitney Pneumo
Questor .Oh
RCA
Ralston Pu
Rancom
Va Rapid Am
Ava— Ve Raythn
ReadBat
Va ReichCh
Reynin
ReyMet
Wwe
Ava Wa
Whee Searleg
Sears
Shell Oil
e+ Va Singer Co
Wat
Smithkline
SonyCo
Scareg
Va /SOCarE
SouthCo
Sonres
SouRy
Sperry R
Va Tektronx
Va Teleprmpt
Texaco
Va Textron
Thiokol
ThriftOg
Todd Ship
Va Transam
U— Ve TwenCen
Usind
US Steel
Va UnTech
Va UniTel
Upjohn
Utahiat
Varian Ou
AV Vetco
Wachova
Va Warner
Whittaker WillisCos
Va Winnebago
XeroxCp
Va ZaleCorp
ZenithRad
The
Associated Press
London
Hughes influence remains at Summa Corp after death
Carson City Nevada AP six months after Howard Hughes death his influence endures at Summa Corp where the 1972 management team still handles daily operations. William Lummis named board chairman aug 4 moves the estate into court administered control while IRS reviews estate valuation and probate proceeds.
MENTIONED IN THIS ARTICLE
Carson City
Nev
Howard Hughes
Summa Corp
Summa
Hughes
Arelo Sederberg
Hughes’ Texas
William Lummis
Lummis
Summa Managers
Hughes’ Estate
Sederberg
Arizona Retail Sales Rise 15 Percent in 1976 First Seven Months
Arizona Progress from Valley National Bank reports statewide retail sales up 15.2 percent for January through July 1976 versus 1975. New car and motor fuel sales run especially strong as population, jobs, and wages grow.
MENTIONED IN THIS ARTICLE
Arizona
Arizona Progress
Valley National Bank
Also Mentioned on This Page
Scottsdale (Az
Daily Progress
Insilco
Lear Siegler
Libbey-Owens-Ford
Molycorp
National Medical Enterprises
Banco
Sundstrand
Standard and Poor
Outlook
S&p
American Can
Household Finance
Royal Dutch Petroleum
Mexico
American Exchange
Aegis Corp
Amic Corp
Va Armin Co
Alamera
S— Va Banistron
Bellind
Ckpet
Va CMI Corp
Cornelius
Intl Banknot
Interway Co
Kaisrind
Kewanee
Va LafyRad
Lincoln Am
LoewThe
McCulo
Mitchlin
Nkinney Co
Nytimés
Va Nolex Cp
NorCdn
Aes Ozark A
PailCorp
E— Va
Risdon M
Robintech
Es Ryanh
Shnandh Oil
System Eng
Va Usfiltz
Madda Trading Company, Inc
Scottsdale
Chicago Mercantile Exchange
Tim Koors
Ron Brennan
McDonald’s
Hayden and
Indian School Roads
Foundation For
Wallace
Ladmo
Gerald
Ronald McDonald
Orpheus
IRS
Nevada
California
H Hughes
Lederberg
Edith
Jo" Laetz
SRP
Democrat
Senate
Laetz Dist
Air Comfort Control, Inc
Wells Fargo
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