U.S. light-truck sales soarSales of North American-built...


February 25, 1993

U.S. light-truck sales soar

Sales of North American-built cars and light trucks continued to improve in mid-February, rising 8.7 percent, automakers reported yesterday.

Automakers sold 295,160 domestic vehicles in the Feb. 11-20 period, compared to 271,553 a year earlier. Most of the increase came from light trucks, which rose a robust 26.5 percent from a year earlier, to 123,361 units. Domestic car sales actually fell 1.3 percent from last year, to 171,799.

USAir, Philadelphia in accord

USAir Group Inc. said it reached a tentative agreement with the city of Philadelphia to move ahead with capital improvements at Philadelphia International Airport. USAir said in a statement that the improvements include $65 million in various terminal renovations and a new $214 million commuter airline runway expansion project.

Yields on 5-year T-notes hit low

Yields on five-year Treasury notes fell in yesterday's auction to the lowest level on record. The high yield was 5.23 percent, down from 5.66 percent at the last auction on Jan. 27. It was the lowest rate on record since the start of regular five-year note auctions in 1977.

Four futures traders plead guilty

Four Chicago Mercantile Exchange traders charged in the government's undercover investigation of cheating on the world's largest futures exchanges pleaded guilty Tuesday to misdemeanor charges. The four were among 12 traders in Japanese yen futures whose six-month trial ended in 1991 when a jury, deadlocked on most of the charges, returned no convictions.

Dell Computer shares plunge

Dell Computer Corp. shares plunged yesterday after the company canceled its proposed public offering of 4 million common shares and told analysts its profit margins wouldn't be as high as previously thought. Moments later, Goldman Sachs & Co., an underwriter of the offering, cut its opinion on the stock to "neutral" from "buy."

The stock of Austin, Texas-based Dell, the fifth-largest personal computer company in the world, fell $6.125 a share, to close at $30.125, its lowest price since mid-October.

GTS Duratek gets utility pact

GTS Duratek Inc. said Duke Power Co. has awarded the Columbia-based company a four-year extension of a contract to provide radiation protection at the utility's three nuclear facilities. The extension, which runs through 1997, means about $40 ZTC million in revenue, the company said.

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