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The Daily Dow LEXINGTON, KY. (October 15): It's a big week for the Dow Dividend Approaches. Last night we had a special auditorium event on the topic and tonight the Gardners will be discussing it on CNBC's Money Club at 7:30 (eastern). Check in tonight to see what Tom and David have to say about the wonderful approach.
In our own Foolish Four model today, EASTMAN KODAK joined a number of companies reporting better-than-expected earnings this morning. Kodak posted $1.22 per share, two cents ahead of analyst expectations. That represents a gain of 23% over last year's third quarter result of 99 cents per share. Revenue only rose 7.8% over last year's period, so the company's getting more out of each dollar of sales this time around.
Also of interest for Kodak shareholders today, the United States is broadening the photo-film complaint filed against Japan, claiming Japan restricts free trade in its extensive distribution system.
An anonymous U.S. Embassy official said that restrictions on the operations of big stores and the use of premiums to lure customers prevent foreign firms and products from doing well in Japanese markets. The new accusations go beyond a complaint filed June 13 on behalf of Eastman Kodak, alleging Japanese regulations discriminate against imported photographic film and paper to benefit Fuji.
In a somewhat neurotic session, which opened strongly higher on many strong earnings reports and then dropped quickly on sell programs, only to close somewhat near where it began the ride, Kodak was the one bright light for the Foolish Four. Everything else played the Dow 6,000 Hangover Blues today.
To check all the current rankings, historical results, and past Dow reports, visit the Dow Dividend Statistics Center. Transmitted: 10/15/96 Today's Dow Numbers
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