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The Daily Dow LEXINGTON, KY. (August 5): Chevron, Kodak and DuPont all posted slight gains today, bucking the modest downtrend for the Dow Industrials, but 3M and its recent spin-off, Imation, both slipped on the day. All in all, a light, meaningless but market-beating day for the portfolio -- a real snoozer after the Olympics.
In Foolish Four news, DuPont Merck Pharmaceutical said Monday that its Carbex tablets have been cleared for marketing by the U.S. Food and Drug Administration as adjunctive therapy for managing Parkinson's disease symptoms. Carbex prevents the enzyme monoamine oxidase Type B from breaking down dopamine in the brain, the company said. This allows dopamine to remain active in the brain for a longer period of time.
CS First Boston initiated coverage of Imation with a hold rating, probably responsible for today's 4% drop.
The scariest thing for all Dow investors is perma-bear Joe Granville's prediction this morning on CNBC of new highs for the Dow. Given Granville's dismal track record, I hate to be on the same side of the contest.
Transmitted: 8/5/96
Today's Dow Numbers
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