The Daily Dow
Monday, July 1, 1996
by Robert Sheard

LEXINGTON, Ky. (July 1): Who ever said Monday's were awful? For the first time in recent memory, the blue chips had a one-day party of some size. Climbing 75 points (1.3%), the Dow led the rival indices today. And except for Eastman Kodak, which had some weak news from its German subsidiary, the Foolish Four were wearing lamp shades and dancing with the best of them.

Let's look at the news. Possibly causing Kodak's party-pooper performance today was the announcement that the German division, Kodak AG, saw profits fall 32%. Net profit dropped from 83.7 million marks to 56.7 million, even while sales grew three percent. Man, go sit in the corner and don't drag the rest of the party down!

Chevron became the official operator of Venezuela's Boscan field today. As the service contractor for the heavy-oil field, Chevron becomes the largest private oil field operator in Venezuela.

3M's spin-off of Imation <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:IMN)") else Response.Write("(NYSE:IMN)") end if %> became official on Friday, although the dividend has not yet been paid and Imation stock has not yet begun trading. When the dividend is paid, I'll recap the details here so any 3M holders will know what to expect.

For its part, Imation started today as an independent company which creates products and services related to the handling, storage, transmission and use of information.

And finally, DuPont exchanged interests in three ventures with Lanxide Corp. Lanxide said it acquired DuPont's interests in Lanxide Electronic Components and Lanxide Armor Products in exchange for 20 percent of DuPont Lanxide Composites. Lanxide's interest in DuPont Lanxide Composites was reduced to 10 percent from 30 percent, generating $7.1 million used to acquire DuPont's interest in the other two ventures, which are now 100 percent owned by Lanxide.

Enjoy the party, Fools, so long as you know that celebrating a one-day gain is just as meaningless as bemoaning a one-day drop. But the food tastes better and the dancing is more fun.

Transmitted: 7/1/96

      THE FOOLISH FOUR MODEL (7/1/96)  

          Day   Week  Quarter  Year  History
Fool-4   1.77%  1.77%  1.77%  15.06%  15.06%
DJIA     1.33%  1.33%  1.33%  11.98%  11.98%
S&P 500  0.79%  0.79%  0.79%   9.74%   9.74%
NASDAQ   1.05%  1.05%  1.05%  13.81%  13.81%


Rec'd    #   Security  In At   Now   Change

1/2/96  142  DuPont    69.88  82.13  17.53%
1/2/96  148  E. Kodak  67.00  77.00  14.93%
1/2/96  380  Chevron   52.38  59.88  14.32%
1/2/96  149  3M        66.38  71.38   7.53%

Rec'd    #   Security       Cost       Value     Change

1/2/96  142  DuPont      $9,922.25  $11,661.75  $1,739.50      
1/2/96  148  E. Kodak    $9,916.00  $11,396.00  $1,480.00      
1/2/96  380  Chevron    $19,902.50  $22,752.50  $2,850.00      
1/2/96  149  3M          $9,889.88  $10,634.88    $745.00     

      CASH      $1,082.61        
      TOTAL    $57,527.74         



Transmitted: 7/1/96

      
      

      
      

        

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