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Publication: European Stars and Stripes Sunday, July 29, 1990

You are currently viewing page 16 of: European Stars and Stripes Sunday, July 29, 1990

     European Stars and Stripes (Newspaper) - July 29, 1990, Darmstadt, Hesse                                Page 16 a a the stars and stripes sunday july 29,1990gnp data push stocks to 2.1% loss for week new York up a Stock prices which started the week by plummeting More than 100 Points finished below the 2900 Mark  Friday for the first time m More than two weeks. The Dow Jones Industrial average fell 22.28 Friday to close at 2898.51, yielding a loss  62.63 Points  2.1 percent  the week. A the broader Market indexes Standard amp poor s 500-Stock Index lost 8.17 to end the week at 353.44 and the new York Stock Exchange composite Index fell 4.33 to close the week at 193.32. Declines led advances 1,291-608 among the 2,175 issues traded this week. Big Board volume totalled 858,623,940 shares compared with 834,887,170 shares a week earlier and 889,256,730 shares a year ago. T the Dow industrials fell More than 100 Points during mondays trading for the first time since oct 13, rebounded late in the Day but still rang up their third largest loss  the year. Analysts blamed the Early debacle  poor earnings reports particularly in the technology sector a gloomy Outlook for interest rates after the previous week s i nation data and Stock prices that had become overvalued relative to earnings. The Broad Market failed to show any rebound from the Early sell off however and had its worst Day  the year. Declines led advances 1,409-226 among the 2,018 issues crossing the tape the largest Gap Between losers and gainers so far this year. The second Quarter Gnu As Well As significant downward revisions for the previous three quarters indicated that economic conditions were softer than most people anticipated said Hugh Johnson head  investment policy at first Albany corp. Recent reports  weaker than expected earnings indicated a similar softness he said. Citicorp was the most Active Issue last week losing a to 2014. Philip Morris followed,off3/i to 46%. In the High tech sector at amp to lost 1 % to 36 % and ism Alexandria a. Apr two employees  major defense contractors Are to serve six months in a Halfway House and pay $5,000 fines for conspiring to Trade m sensitive Pentagon reports  Long Range weapons plans. The sentencing in . District court  Friday closed the criminal cases arising from operation undercover an investigation into the network  corporate workers who traded in secret Pentagon reports for More than a decade. . District judge Albert v. Bryan . Sentenced Frank j. Caso 58, and John r. Kiely 65, to two years imprisonment but suspended All but six months. Caso was a marketing analyst with Hughes aircraft co., and Kiely was a former marketing manager with Raythelon co. They were convicted last month following the 15-month government investigation into the use  de lost 6 % to 111 %. Compaq computer lost 4 i to 55 %. On the american Stock Exchange the amex Market value Index fell 4.96 to close Friday at 355.49. Amex volume totalled 68,855,845 shares compared with 62,059,015 traded a week earlier and 63,701,725 traded in the same week a year ago. Ensco led the amex actives up % to 4 i the National association  securities dealers composite Index fell 12.69 to end the week at 442.59. Sense department secrets by contractors. Prosecutors say the companies sought Long Range military budget proposals for each  the services to gain an Edge in seeking Pentagon weapons contracts. Michael j. Costello  the defense criminal investigative service which handled the probe said circulation  the documents May have Cost taxpayers millions  dollars by tainting the procurement process. Six people have been sentenced in the cases and. Fines  $14.9 million were levied against five corporations including Hughes a subsidiary  general motors and Raythelon the longest sentence in the investigation was a two year jail term Given Richard Lee Fowler a former Boeing marketing analyst convicted  39 criminal counts arising from documents he illegally obtained copied distributed and destroyed. Mutual funds 2 sentenced in contractor Case from Page 15 out furl 14.56 15.15�? Otye Qin 1337 Nln Woom a. 10.97 21.19�? Olympu fun equal it  mint Teca Teny Sehyr Ufa Jutt a Baumm f j. 1  a for a tap Sec map Cate  act  itch Seq inc Gimp if Rev Gijo Gold it Ltd by top 00-10 Oppon. 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