Stock market up nicely in 'worst' month

The Ticker

September 13, 1996|By Julius Westheimer

ALTHOUGH THE Dow Jones industrial average failed yesterday by seven points to close above its all-time high, the index of 30 blue-chip stocks has performed impressively. Standing this morning at 5,771.94, the index is ahead 156 points in September -- historically the year's worst month -- and up 655 points, or 12.8 percent, this year.

SPEAKING OF STOCKS: "These companies' earnings met or beat analysts' expectations by more than 5 percent in each of the last seven quarters: CDW Computer Centers, Lehman Bros., Money Store, Oryx Energy, Tellabs, Texaco, Texas Industries, Unicom, USAir Group." (Financial World, Sept. 16.)

ROUGH TREATMENT: Black & Decker and CEO Nolan Archibald are featured in Forbes, Sept. 23. Some excerpts:

"B&D has made a spectacular turnaround. There are lots of big egos among industry chiefs, but few more expansive than Archibald's.

"Every six months the heads of B&D's operating divisions meet. Archibald orders those who haven't met their profit numbers to line up on one side of the room, the ones who have on the other."

The article adds that the "failures" must confess their "sins," explaining why they haven't measured up.

MONEY-SAVER: From "Save Big on Home, Car, Life, Disability Insurance" in Family Circle, Sept. 1: "Call three companies for written estimates. Let companies compete for your business. Give estimates to competitors, give each a chance to offer lower premiums. Beware of sales pitches for features you don't need."

HANG IN THERE: "A buyer of 100 shares of Wal-Mart as a new issue in October 1970, for $1,650, who just held on, now owns 102,400 shares resulting from 10 splits. The shares are worth about $2,764,000." (Moneypaper, September.)

SEPTEMBER SONGS: The Kiplinger Washington Letter warns investors to "tread carefully" when investing in bagel shops. The letter feels many areas, especially the East and West coasts, are saturated.

Interested in business espionage -- gathering information on competitors -- a practice now on the increase? A new book, "Competitive Intelligence," by Larry Kahaner ($24) explains how the Japanese and others used such tactics successfully.

"Clinton Dow Jones Birth Day" contest winners were Michael Gahan III, Casper Clary and Allan Stocks. They were first with DJ 200.19 for Aug. 19, 1946.

FINAL REMINDER: Third quarter federal and Maryland estimated taxes must be postmarked by midnight, Monday.

Pub Date: 9/13/96

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