Dow comes back with a 10.72 gain

April 04, 1995|By JULIUS WESTHEIMER

The Dow Jones industrial average regained about two-thirds of its Friday loss yesterday, rising partly because the National Association of Purchasing Managers reported a continually weakening economy.

The Dow indicator climbed 10.72 points, closing at 4,168.41, now standing less than five points below its all-time closing high. Long-term bonds advanced over half a point.

BEST & WORST: Speaking of investments, here are the five-year top performing newsletters, in order, followed by total return (gain plus income) percentages and toll-free phone numbers, from Fortune, April 17: OTC Insight 223 percent, 800-955-9566; Oberweis Report 200 percent, 800-323-6166; New Issues Letter 176 percent, 800-442- 9000; Turnaround Letter 174 percent, 800-468-3810 and MPT Review 153 percent, 800-454-1395.

The two-worst performing letters were the Granville Market Letter, down 89 percent, and the Overpriced Stock Service, off 87 percent.

HOT OFF PRESS: When these 1995 year-end Dow Jones forecasts were made, in mid-January with the Dow just above 3,900, gloom and doom shrouded Wall Street following last year's dismal showing. But with the DJIA ending this year's first quarter at 4,157.69, these closest crystal ball gazers look courageous today, all within 20 points of the March 31 Dow Jones close:

Rose Terracina, Oscar DeCastro, Jean Walters, Barbara Vergauwen, Alice Evans, Joanne Boyle, Cathy Cirincione, Bernard Vordersmith, Kimberly Holmes, Kristina De Labio, Tom Hall, William Trust and Bob Stocksdale. (Hundreds of other contestants guessed even higher.)

STRONG QUARTER: "The signal news of the year's first quarter was the smashing of the 4,000 barrier by the Dow Jones average on its way to an 8.4 percent gain. Other indices -- Transports, S&P 500 and Nasdaq's averages -- did even better, racking up rises of 12 percent and more. By any measure, stocks turned in a first-rate performance since January 1." (Barron's, April 3).

LOCAL LINE: Black & Decker is the subject of a Financial World (March 28) story, "B&D: Back and Tougher." Excerpts: "A few years ago, B&D was a languishing operation. Today, it's a huge hit on Wall Street. . . . Operating profits in 1994 rose 17 percent, sales up 13 percent, compared to 1993 when both only inched ahead . . . CEO Nolan Archibald has replaced seven out of 10 heads of manufacturing operations. . . . There is no sunset on the horizon for this company."

"Sun Stocks" reaching recent 12-month highs include Aegon Insurance, Alex. Brown, Avemco, Host Marriott, HCIA Inc., Legg Mason and Waverly. New highs are marked by a little "u" next to the stock's price, new lows by a small "d."

NOTES & QUOTES: "Sure bet: Anything delayed will get further delayed." (Robert Half in Forbes, April 10)

"The longer I live, the more I'm certain that the great difference between men, between the feeble and the powerful, between the great and the insignificant, is energy -- invincible determination -- a purpose once fixed, and then death or victory." (Sir Thomas Fowell Buxton in Success magazine, April)

MONEY SAVERS: In response to many requests, here are numbers to call for lowest credit card interest and mortgage rates in the country. For credit card data, call Bankcard Holders of America 703-389-5445; the firm's mailer costs $4. For a list of low mortgage rates, call HSH Associates at 800-UPDATES (800-873- 2837). The charge is $20. Confirm all charges when you call.

BEST & BEST-KNOWN: Here, from Business Week, April 10, are "The Best Mutual Fund Returns" for this year's first quarter, followed by total return percentages: Fidelity Select Electronics 22; Perkins Opportunity 22; Retirement Planning Growth "B" 21; GAM Global 20; Fidelity Select Air Transportation 19; Govett Smaller Companies 19; Robertson Stephens Value + Growth 18; Seligman Communications & Info "A" 16, BT Investment Small Cap 17 and GAM International 16.

And, from the same story, is "How The Big Funds Fared" by total return: Fidelity Magellan 9; Investment Co. of America 7; Washington Mutual Investors 10; Fidelity Puritan 4; Vanguard/Windsor 7.

MARK YOUR CALENDAR: Thursday, April 6, at the Hyatt Regency at noon, Baltimore Security Analysts present a panel on "Environment and Liability" with Loren Jensen, CEO of EA Engineering Science & Technology, and Deborah Coy, environmental analyst at Natwest Securities.

Upcoming Programs: April 25: Michael Bloomberg, president, Bloomberg Financial; May 10: Bell Atlantic; May 18: Household International; May 25: Municipal Bond Insurers Panel.

WALL ST. WATCH: "The stock market isn't ready to buckle yet, although we are nearing an intermediate top. The risk is that the economy remains strong, and the Fed may raise interest rates again. (Martin Zweig)

"I'm very optimistic. There's a good chance we'll reach Dow Jones 4,800 this year. I like Eli Lilly, Pfizer, American Home Products and Texas Instruments." (Laszlo Birinyi)

Above quotations from Friday's "Wall Street Week With Louis Rukeyser."

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