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U.S. HEADLINE STOCKS - Issues to watch Dec 11
Reuters Story - December 11, 1997 07:42
%US %STX CCI AXP QNTM FDX GE LMT AVP SEG STYL MISUB V%REUTER P%RTR
NEW YORK, Dec 11 (Reuters) - Stocks to watch:
-- In overnight trading in London, leading U.S. technology
and bank stocks weakened as concerns over Asia's financial
turmoil continued. Citicorp fell 2 to 130. American
Express Co shed 1/2 to 86-3/4.
-- A profit warning from Quantum Corp sent its
shares down 3 to 20-13/16 in London. The computer disk drive
maker said third quarter earnings will be below the second
quarter because of aggressive pricing in the market.
-- Federal Express Corp is expected to post almost
flat quarterly earnings today due to the effects of the
economic turmoil in Asia and lower productivity at home, the
Wall Street Journal reported. The stock closed at 67-3/8
Wednesday.
-- General Electric Co will take a $2 billion pretax
charge to restructure its industrial businesses in the fourth
quarter, offsetting a $1.4 billion gain from its asset swap
with Lockheed Martin Corp , the Wall Street Journal
reported. GE closed at 73-3/4. Lockheed closed at 97-7/16.
-- Avon Products Inc is expected to name outside
director Charles Perrin as chief operating officer, with plans
to name him chief executive in May, the Wall Street Journal
reported. Avon closed at62.
-- Seagate Technology Inc said late Wednesday that
it would close a plant in Ireland and fire 1,400 people. The
stock closed at 21-3/4.
-- Styling Technology Corp , a maker of
professional salon products, said Wednesday it would take an
extraordinary, non-cash charge of $1.4 million, or $0.33 per
share, in the fourth quarter. The stock closed at 15-14/16.
-- MicroSure Inc said Wednesday it had signed a
letter of intent to acquire privately held Cascade Oncogenics
in a deal valued at about $6.8 million in stock. MicroSure
closed at 15/16.
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