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The Daily Dow ST. PETERSBURG, FL. (July 25): DuPont <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:DD)") else Response.Write("(NYSE:DD)") end if %> continues to drive the Foolish Four after yesterday's positive earnings announcement and forecasts for the second half of 1996. Today the drive was fueled by a round of analyst upgrades.
Salomon Brothers raised its rating to "buy" from "hold," Morgan Stanley raised its rating to "outperform" from "neutral," and PaineWebber upgraded DuPont to "attractive" from "neutral." The big factor behind the analysts' optimism is DuPont's repurchase of 156 million warrants worth $500 million from Seagram Co.
In other Foolish Four news, Eastman Kodak announced plans to manufacture one-time-use cameras at its existing factory in Guadalajara, Mexico, in order to meet rapidly growing global demand and simultaneously expand the manufacture of these products into a third region of the world.
"One-time-use cameras are one of Kodak's fastest growing product categories and represent a true success story for Kodak," said Charles S. Brown, Jr., vice president and chief operating officer, Consumer Imaging. "This expansion of capacity demonstrates that we will move quickly to serve customers worldwide and sustain Kodak's leadership in photography."
Enjoy the nice day on the market, Fools. There haven't been many recently so any relief is welcome.
Transmitted: 7/25/96
Today's Dow Numbers THE FOOLISH FOUR MODEL (7/25/96) |
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