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The Daily Dow
LEXINGTON, KY. (August 26): After Friday's strong monthly durable goods report, the blue chip stocks took a step backwards today, dropping half a percent. This is despite a rebound of more than $2 a share in Philip Morris after an Indiana court case ruled in favor of the tobacco companies. The prospects of future and protracted litigation will undoubtedly mean more volatility for Philip Morris in the near future.
As for the Foolish Four model portfolio, 3M and its spin-off, Imation, were the only holdings in positive ground for the day. (Imation actually climbed nearly 3% today, but the portfolio's position is so small it has virtually no effect on the overall total.)
In company news, Eastman Kodak introduced a color photo print scanner aimed at the home user. The Kodak Snapshot Photo Scanner 1 works with all standard "snapshot" print sizes, including new Advanced Photo System prints. It can scan and display a picture -- from magazine to baseball card thickness--in less than 30 seconds.
The scanner includes a variety of software packages to let home users work and play with their own photographs on their computers. The expected retail price is $199.
Transmitted: 8/26/96
Today's Dow Numbers
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