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The Daily Dow LEXINGTON, KY. (October 31): With the exception of Chevron, the action in today's section was ghoul free for the Foolish Four Dow stocks. Chevron dropped a fraction, but DuPont, Eastman Kodak, and 3M all posted treats rather than tricks on this Halloween day. Yet the overall portfolio couldn't keep pace with the market.
Even Imation has done us proud lately after yesterday's blow-out earnings report. Today CS First Boston raised the stock to a "buy" from "hold," but the stock was tired after sprinting ahead 21% yesterday and it slipped a tad for the day.
All in all, a very good day to be a bull, but only an average day for our group.
In company news, Kodak and Fuji Photo Film are still going at it. Fuji is now purchasing photographic paper from a competitor to keep up with the demand created by some of its contractual obligations created by Fuji's aggressive move to sign up major U.S. retailers with its photo-finishing services.
To meet its contracts, Fuji's now having to buy paper made by Agfa, a division of Germany's Bayer AG. The prices Fuji's having to pay aren't public, but Fuji seems stuck in the arrangement until its new plant in Greenwood, South Carolina gets online, which could be a year away. Fuji decided the short-term "awkward" arrangement was better than losing the contracts because of a year delay in getting the plant operational.
No one ever said the competition between these companies constitutes a Kodak moment.
Enjoy the fun and Folly tonight, but watch out for those gremlins wearing the belled-caps.
Today's Dow Numbers
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