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The Daily Dow LEXINGTON, Ky. (Apr. 3): Stock trading was understandably subdued today after news broke that Commerce Secretary Ron Brown is believed to have died this morning in a plane crash in Croatia. Mr. Brown was leading a delegation of American business executives to explore the possibilities and challenges in trying to rebuild the infrastructure in the war-torn former Yugoslavia.
In Foolish Four news, Chevron announced that its Nigerian arm, Chevron Nigeria, will be able to produce 500,000 barrels per day in the next couple of years. If additional drilling confirms recent discoveries and the Nigeria National Petroleum Corp. funds the project at the expected level, Chevron might be able to reach the half-million barrel estimate.
Eastman Kodak announced its newly-named business unit today - the Professional Motion Imaging unit - which will serve customers in motion picture, television, and commercial production. The unit's president will be Joerg D. Agin.
3M announced today that it has filed a preliminary information statement with the Securities and Exchange Commission relating to the proposed spin-off of its data storage and imaging systems businesses.
And finally, DuPont's annual report announced that the Conoco division's increase in natural gas reserves came about as the result of revised estimates. In early February, the DuPont unit reported a 1.0 percent increase in total reserves, saying natural gas reserves were up 3.4 percent while oil reserves eased 1.0 percent. The annual report showed production totaling 454 billion cubic feet was not replaced by discoveries of 400 billion cubic feet, and another 167 billion cubic feet of reserves in place were sold. However, revisions in earlier estimates added 328 billion cubic feet to Conoco's proven reserves. Transmitted: 4/3/96
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Today's Dow NumbersTHE FOOLISH FOUR (4/3/96) |
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