The Daily Dow
Monday, July 8, 1996
by Robert Sheard

LEXINGTON, Ky. (July 8): Today's session was a less bruising version of Friday's sell-off as the Wall Street community continues to buzz about interest rates. Predictions this morning ranged from an immediate Fed rate hike today to a definite rate hike at the August meeting. But the overall pessimism on Wall Street because of an apparently stronger-than-expected economy (perverse, isn't it?) kept the Dow stocks on the defensive today.

And the Foolish Four were no exception, adding slightly to Friday's losses. The only news for our four holdings concerns Eastman Kodak's ongoing dispute with Fuji Film and Japan. Responding to the announcement that Wal-Mart signed a contract with Fuji to provide photo-finishing services, Kodak vice president and C.O.O. of Consumer Imaging, Alexander V. Wasilov, said that "Kodak has enjoyed a long and mutually successful relationship with Wal-Mart which we expect will continue in the future. Although we regret their decision to sell their wholesale photo-finishing assets to a competitor, we look forward to continuing to provide Wal-Mart customers with Kodak film, cameras, one-time-use cameras, and other Kodak products and services."

Wasilov played up the market penetration Kodak still enjoys and planted a seed for the upcoming World Trade Organization hearings: "Consumers place a very high value on the quality of Kodak paper, chemistry and premium processing services, and those services will continue to be available to our consumers through tens of thousands of other retail outlets throughout the U.S. and Canada. Fuji's ability to win this contract in a bidding process proves beyond any shadow of a doubt that our U.S. marketplace is not only open, but the most competitive market in the world."

As for the trade dispute with Japan, talks between the U.S. and Japan take place this week on Washington claims that U.S. producers face unfair barriers in the multi-billion dollar Japanese photo film market. The talks will be held in Geneva on Wednesday and Thursday and are the first step in the dispute settlement procedure of the World Trade Organization.

Transmitted: 7/8/96

THE FOOLISH FOUR MODEL (7/8/96)  

           Day    Week  Quarter   Year  History
Fool-4   -0.52%  -0.52%  -1.74%  11.08%  11.08%
DJIA     -0.67%  -0.67%  -1.84%   8.48%   8.48%
S&P 500  -0.78%  -0.78%  -2.72%   5.92%   5.92%
NASDAQ   -0.82%  -0.82%  -3.05%   9.19%   9.19%


Bought   #   Security  In At   Now   Change

1/2/96  380  Chevron   52.38  58.88  12.41%
1/2/96  142  DuPont    69.88  77.75  11.27%
1/2/96  148  E. Kodak  67.00  74.38  11.01%
1/2/96  149  3M        66.38  67.38   1.51%

Bought   #   Security      Cost       Value        Change

1/2/96  380  Chevron    $19,902.50  $22,372.50   $2,470.00      
1/2/96  142  DuPont      $9,922.25  $11,040.50   $1,118.25      
1/2/96  148  E. Kodak    $9,916.00  $11,007.50   $1,091.50      
1/2/96  149  3M          $9,889.88  $10,038.88     $149.00     

      CASH      $1,082.61        
      TOTAL    $55,541.99         



Transmitted: 7/8/96

      
      

      
      

        

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