The Dow Approach - Wednesday, October 09, 1996

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BTD 10
As Of 10/09/96

#1
ATT
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#2
International Paper
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:IP)") else Response.Write("(NYSE:IP)") end if %>

#3
General Motors
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:GM)") else Response.Write("(NYSE:GM)") end if %>

#4
Chevron Corp
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CHV)") else Response.Write("(NYSE:CHV)") end if %>

#5
Minnesota Mining & Mfg
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MMM)") else Response.Write("(NYSE:MMM)") end if %>

#6
J.P. Morgan
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:JPM)") else Response.Write("(NYSE:JPM)") end if %>

#7
Exxon
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:XON)") else Response.Write("(NYSE:XON)") end if %>

#8
Philip Morris
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MO)") else Response.Write("(NYSE:MO)") end if %>

#9
Du Pont de Nemours & Co.
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:DD)") else Response.Write("(NYSE:DD)") end if %>

#10
Texaco
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:TX)") else Response.Write("(NYSE:TX)") end if %>

***NOTE: FOOLISH FOUR STOCKS ARE ITALICISED

The Daily Dow
Wednesday, October 9, 1996
by Robert Sheard (MF DowMan)

LEXINGTON, KY. (October 9): If there were ever any doubt that Wall Street can be worse than junior high school for rumor mongering, today was ample evidence. Before the market opened, all the signs were that we were in for a nice day following last night's much-stronger-than-expected semiconductor book-to-bill ratio. But before the market really got going, a rumor hit the Street that Russian president Boris Yeltsin had died (a rumor since discredited by Russian officials) and the Dow plummeted some 50 points immediately. Yeah, but did you know Susie kissed Billy after home room? And in front of Mary?

This year is turning out to be one filled with Dow spin-offs (first 3M, then AT&T, and another AT&T spin-off is scheduled for later in the year), so in response to a number of readers' requests, we've added a file to our Dow Statistics Center which will track all of the calculations you need if you've been the recipient of any of these Dow spin-offs. Just click this link and you'll find the article. If you're not using the latest AOL software, just head to the Dow Statistics Center for the numbers behind the 3M and AT&T spin-offs.

And speaking of spin-offs, if you were one of those lucky investors who received so few shares of 3M's spin-off of Imation that your commission to sell the shares would actually be more than they're worth, Imation has extended an offer to buy back odd lots of its stock at 90 cents per share through November 4. Normally we recommend holding spin-offs until your annual update, but if you're only holding a couple of shares, this offer is probably worth considering rather than paying a much higher commission later on. Call the Imation Investor Relations department for details (612-704-4000).

As for the Foolish Four today, we're paying the piper a bit for yesterday's victory. The portfolio was down today along with the overall blue-chip index.

In company news, CHEVRON announced today that it is studying proposals to build more petrochemical projects in Saudi Arabia. John Peppercorn, president of Chevron Chemical, said the company is considering a project at Yanbu, Saudi Arabia's Red Sea coast. The company recently announced plans to build a $650 million petrochemical plant at the Persian Gulf port of Jubail.

And also of concern to our Foolish Four oil component is today's report by Dean Witter Reynolds analyst Eugene Nowak, claiming that the big oil companies will beat third-quarter earnings from last year by five to fifteen percent.

For its part, Chevron benefited somewhat from exposure to West Coast refining and marketing, and analysts expect the company to have earned 95 cents a share, up from operating earnings of 81 cents in 1995's third quarter.

Transmitted: 10/9/96

Today's Dow Numbers

THE FOOLISH FOUR MODEL (10/9/96) Day Week Quarter Year History Fool-4 -0.59% -0.18% 2.43% 23.30% 23.30% DJIA -0.61% -1.04% 0.82% 15.90% 15.90% S&P 500 -0.56% -0.67% 1.37% 13.12% 13.12% NASDAQ -0.17% -0.77% 0.90% 17.66% 17.66% Bought # Stock In At Now Change 1/2/96 142 DuPont 69.88 93.50 33.81% 1/2/96 380 Chevron 52.38 65.38 24.82% 1/2/96 148 E. Kodak 67.00 75.75 13.06% 1/2/96 149 3M 63.76 70.13 9.98% 7/16/96 14 Imation 26.16 24.75 -5.38% Bought # Stock Cost Value Change 1/2/96 142 DuPont $9,922.25 $13,277.00 $3,354.75 1/2/96 380 Chevron $19,902.50 $24,842.50 $4,940.00 1/2/96 148 E. Kodak $9,916.00 $11,211.00 $1,295.00 1/2/96 149 3M $9,500.09 $10,448.63 $948.53 7/16/96 14 Imation $366.21 $346.50 $(19.71) CASH $1,524.50 TOTAL $61,650.13 Transmitted: 10/9/96

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