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, Mar 23 1992 Date: Mon, 23 Mar 92 05:45:26 EST Message-ID: 03-23 0000 DECISIONLINE: Personal Investing USA TODAY Update March 23, 1992 Source: USA TODAY:Gannett National Information Network ANALYST LIKES TIME WARNER: S.G. Warburg analyst Lisbeth Barron is strongly pitching Time Warner stock as "the single-best buy in the entertainment group." Her price targets: $135 before year's end, $200 by mid-'94. Friday's close: $103 5:8. She says Time Warner will be profitable much sooner than expected; its '92 and '93 losses will run a lot less than expected; and it's chopping debt fast. MORE WOMEN HEADING FUNDS: More woman are managing stock mutual funds. A woman is the boss of one of 12 stock mutual funds, according to a survey done for USA TODAY by Morningstar, a fund-research service. Morningstar found that 69 women are stock-fund managers - of a total 808 portfolio managers. They run 88 funds of 1,200 available. (For more, see special Women pacakge below.) STOCK PRICES HIGHER: Stock prices edged higher Friday in heavy trading driven by technical factors within the market. The Dow Jones industrial average rose 14.99 points to 3276.39. The New York Stock Exchange Composite Index rose 0.71 to 226.96. Gainers outpaced losers by 922 to 774. NYSE volume was 246,710,000 shares compared with 197,240,000 shares Thursday. ALUMINUM TO BE A HOT METAL: Stewart Spector, head of The Spector Report, an aluminum-tracking service, says that aluminum stocks' time has come. Reflecting pent-up investor interest in economically sensitive stocks, he sees his best bets jumping more than 20% in 12 months and doubling in three years. He likes ALCOA, $70 3:8, and Reynolds Metals, $57 1:2. Reason: A recovery will lift the metal's price. CALPERS CHANGING ITS STYLE: The California Public Employees Retirement System, the nation's largest pension fund, says it's going to ease up on companies in which it has invested during their annual meetings - at least for a little while. The $68 billion fund, known as CalPERS, plans to refrain this year from using shareholder proposals in battles with corporate boards to get what it wants. 12 COMPANIES TARGETED: CalPERS has been negotiating with companies to get them to put more non-executive directors on boards, change executive pay plans and agree to form shareholder-advisory committees. If its demands aren't met, CalPERS may vote against re-election of a company's board. Targets: IBM, Chrysler, ITT, Ryder, American Express, Dial, Time Warner, Salomon, Hercules, Control Data, USAir and Polaroid. BOND SALE PLANS CANCELED: Don't count on buying Pakistani bonds in the USA. The Pakistani government has canceled plans to sell foreign exchange bearer bonds in the USA because of fears the offering would attract drug money launderers. Concern rose after advertisements appeared in U.S. newspapers saying the buyers of the bonds would be asked no questions about the source of their funds. GOLD FALLS IN NEW YORK: Gold prices fell in New York Friday as Iraq seemed closer to complying with the U.N. demands. Gold for spot delivery settled at $338.20 a troy ounce Friday on New York's Commodity Exchange, down 60 cents from Thursday's close. Silver was quoted on the Commodity Exchange at $4.111 a troy ounce, down 1 cent from late Thursday. In London, silver fell to $4.13 from $4.02. SPECIAL PACKAGE ON WOMEN: TWO TRENDS BOOST WOMEN: While the number of female stock-fund managers is small, it has increased dramatically the past decade. Of the 69 women, only one was at her current job before 1983. And at 80% of the woman-run funds, the manager has been in charge for five years or less. An explosion in the number of mutual funds and the bull market that began in August 1982 are what have pushed women to the top. WOMEN MANAGERS UP TO PAR: As money managers, the women's performance isn't bad for a bunch of relative newcomers. Their performance is roughly on par with their male counterparts'. Excluding funds that invest in stocks of just one industry or region, 59% of the woman-run funds tied or beat the average gain for funds of a similar investment objective. Of funds that a woman has run for five years, 38% did so. (End of package.) DOW JONES OPENS ON UPSWING: The Dow Jones average of 30 industrials opens Monday at 3276.39, after closing up 14.99 Friday. The New York Stock Exchange composite opens at 226.96, up 0.71. The American Stock Exchange market value opens at 402.03, down 0.14. The NASDAQ OTC composite opens at 624.28, down 1.68. 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. 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