The Daily Dow
Friday, October 18, 1996
by Robert Sheard (MF DowMan)

LEXINGTON, KY. (October 18): Even with a 5% drop in PHILIP MORRIS stock today (one of the most influential stocks within the Dow since the index is price-weighted), the blue chip average rose an impressive 35 points, setting another new record high.

The only significant economic data was a slightly-lower-than-expected trade deficit last month (although the widening gaps with China and Canada are cause for concern), but that combined with heavy volume on the "double witching" options expiration day were enough to set buyers loose in the market.

Everything in the Foolish Four model was up today except for the tiny stake in IMATION, the spun-off shares we acquired by owning 3M.

In company news, CHEVRON and five other partners in an Australian liquefied-natural-gas project announced that they will proceed with an expansion plan worth nearly $5 billion. The project is in the North West Shelf region and the expansion could be in place by 2003. The original production began in 1989.

DUPONT won a legal battle today when a federal appeals court rejected a judge's order for the company to pay millions in fines and to admit publicly that they failed to disclose evidence in a lawsuit over the fungicide Benlate DF. The $115 million criminal contempt order was reverses because it was imposed without the "procedural protections the Constitution requires," according to the Associated Press.

And finally, EASTMAN KODAK is passing along increased costs of distribution and raw materials for its Business Imaging Systems unit by increasing prices for micrographics and CD supplied two to five percent. The price hike will cover microfilm, duplicating films, microfilm chemistry, and writable CD media. The price hikes are effective for orders received in the United States after January 1.

Transmitted: 10/18/96

      THE FOOLISH FOUR MODEL (10/18/96)  

          Day    Week  Quarter  Year  History
Fool-4   0.90%   2.14%  6.08%  27.70%  27.70%
DJIA     0.58%   2.09%  3.61%  19.09%  19.09%
S&P 500  0.54%   1.45%  3.42%  15.41%  15.41%
NASDAQ   0.04%  -0.46%  1.27%  18.09%  18.09%


Bought  #    Stock     In At   Now   Change

1/2/96  142  DuPont    69.88  96.88  38.64%
1/2/96  380  Chevron   52.38  67.38  28.64%
1/2/96  148  E. Kodak  67.00  79.88  19.22%
1/2/96  149  3M        63.76  72.50  13.71%
7/16/96  14  Imation   26.16  24.63  -5.86%

Bought  #    Stock          Cost       Value     Change

1/2/96  142  DuPont      $9,922.25  $13,756.25  $3,834.00    
1/2/96  380  Chevron    $19,902.50  $25,602.50  $5,700.00    
1/2/96  148  E. Kodak    $9,916.00  $11,821.50  $1,905.50    
1/2/96  149  3M          $9,500.09  $10,802.50  $1,302.41    
7/16/96  14  Imation       $366.21     $344.75    $(21.46)  

      CASH      $1,524.50      
      TOTAL    $63,852.00      





Transmitted: 10/18/96

      
      

      
      

        

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