Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!usa-post Newsgroups: usa-today.invest From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: invest Mon, Feb 24 1992 Date: Mon, 24 Feb 92 06:25:44 EST Message-ID: DECISIONLINE: Personal Investing USA TODAY Update Feb. 24, 1992 Source: USA TODAY:Gannett National Information Network INVESTORS CASH IN ON STOCKS: Stock prices declined slightly Friday as investors cashed in on Thursday's advance to record highs. The Dow Jones average of 30 industrials slipped .45 to 3,280.19, finishing the week with a net gain of 34.22 points. Losers beat winners 976 to 730 on the New York Stock Exchange, where 259.54 million shares changed hands. GM TO MAKE REVELATIONS: Analysts expect General Motors to report a loss of $6.5 billion for last year, including a $3 billion restructuring charge, when GM Chairman Robert Stempel reveals the automaker's 1991 financial results. Stempel also may announce which of two assembly plants GM will close. In December, GM said it will close either its Arlington, Texas, or Willow Run, Mich., plant. LEVIN NEW CO-CEO AT TIME WARNER: Gerald M. Levin, whose idea it was for Time Inc. to get into the entertainment business, Thursday became co-chief executive of Time Warner, the product of a 1990 deal that transformed magazine-driven Time into a partner in the world's largest media and entertainment company. He succeeds Nicholas J. Nicholas Jr., who was forced to resign. Time Warner shares rose 1 7:8 Friday to $99 3:4. GOV'T PROBING YORK TRADING: USA TODAY reports Monday that the U.S. attorney's office in New York has subpoenaed traders of York Research stock. The subpoenas are seeking trading records in York stock. The subpoenas, USA TODAY reports, are part of a federal grand jury probe into trading in York. York, via partnerships, builds cogeneration facilities that provide electricity to residential and commercial projects. PRIME TIME IN PLAY: Struggling NBC, the subject of repeated takeover rumors, has been exploring a novel deal that could fatten the coffers of parent General Electric, reports USA TODAY's Dan Dorfman. NBC would sell two or more days of prime-time television. The buyer would decide programming, get advertisers and reap the profits. NBC would be the carrier. GE and NBC declined comment. GAIN SEEN FOR AMERICAN EXPRESS: The express track is what Argus Research analyst Daniel Murray sees for beaten-up American Express, which has had one fiasco after another. Murray sees signs that could push the stock above $30 by year's end. Friday's close: $21 3:8. The positive signs: The planned public offering of 45% of its Information Services Corp. subsidiary; Profitability at the Shearson Lehman Brothers unit. BALLY MAY BE PLANNING OFFERING: Bally Manufacturing Co., the hotel-casino operator that did a successful public offering in November of its slot-machine business, plans another one next November, reports Dan Dorfman. This time Bally's offering its profitable chain of 310 health and tennis clubs. Bally is trying to fatten the size of the chain before going public by acquiring other such chains for Bally stock. BALLY TO RETAIN BIG STAKE: Bally, it's believed, will seek to retain about a 65% equity stake in its health club chain when it goes public. That's its holding in Bally Gaming, the slot-machine unit that went public at $12. Friday close: $19 1:4. Bally declined to comment. `MAD BOMBER' BACK: Money manager Kenneth Heebner of Boston's Capital Growth Management apparently has soured on health-care stocks. Dubbed the "mad bomber" by some for massively dumping stocks when he wants out, Heebner is said to have recently ditched a slew of health-care names. In turn, a number got whacked. Among them: Merck, Syntex, U.S. Surgical, SciMed Life Systems, Medtronic and Pfizer. DON'T FALL OUT OF THE GAP: Analysts say the dumping of more than a million shares of Gap Inc. last month by two prominent insiders - chairman Donald Fisher and his son, Robert, a board member - is no reason to bail out. The stock since has dropped 8%. "Although you can never know what an insider might know, my feeling is this is normal selling," says Walter Loeb of Loeb Associates. "The Gap will continue to grow." $68M IN STOCK SOLD: A Gap spokesman declined to comment on last month's stock sale by chairman Donald Fisher and his son Robert. Donald Fisher sold 900,000 shares Jan. 7 for $56.75 each, totaling $51 million. The 52-week high was $59 3:8. Fisher still owns nearly 34 million shares, worth $1.7 billion at Friday's close of $49 1:8. Robert Fisher sold 300,000 shares Jan. 7 for $56.75 each, or $17 million. DOW JONES OPENS ON DOWNSWING: The Dow Jones average of 30 industrials opens Monday at 3280.19 after closing down 0.45 Friday. The New York Stock Exchange composite opens at 227.46, down 1.14. The American Stock Exchange market value opens at 412.85, down 0.01. The NASDAQ OTC composite opens at 629.75, down 2.48. 24-HOUR TELEPHONE INFORMATION: USA TODAY Money Hot Line. 95 cents a minute. 1-900-555-5555. Personal Investing Editor: William Snoddy. (1-919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. 08:0002240000D0224 REAL- R N Space-glut-hurts-developers........... A D0224 This article is copyright 1992 Gannett News Service. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM