Word: glamourizer
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...deal loses its allure. The mutual funds have become so bearish that last week they dumped some stock in large blocs. They were getting rid of electronics stocks and shares of machine-tool companies and others likely to be damaged by repeal of the 7% investment-tax credit. The glamour stocks have dropped much more than the blue chips; Fairchild Camera, Doug las Aircraft, Xerox, Motorola, and oth ers have come down 50% or more from their year's highs. Such declines have clobbered the executives who exercised stock options with borrowed money, using their shares as collateral, when...
Christopher Wadsworth '62, assistant director of the advanced standing program, yesterday attributed the decline in acceptances to the "loss of glamour attached to starting as a sophomore...
Last Feb. 9, prices on the New York Stock Exchange, as measured by the Dow-Jones industrial index, hit an alltime high. Ever since, the market has generally been sloughing off, with blue chips leading glamour stocks on the way down. Yet some stocks have more than held their own since Feb. S. A sampler of losers and gainers since the day of the historic high...
These tiny devices-called integrated circuits because their components are built as inseparable parts of one solid chip-are already displacing the transistor as the glamour product of the electronics industry (see following color pages). First developed in 1958 by Texas Instruments Engineer Jack Kilby while he was tinkering in the laboratory during a hot summer vacation, integrated circuits (or ICs) did not become generally available until 1962, when design improvements and refinement of production techniques allowed electronics companies to turn out some 60,000 a year. In 1966, the industry will produce 35 million ICs worth $150 million...
...February, the industrial average has declined on 80 trading days v. gains on only 53; during the first 20 Big Board trading days in August, 15 ended up with the index off. Where the blue-chip stocks had been taking the brunt of the beating since February, last week glamour stocks inevitably began to follow them down. Xerox lost 15⅝ in a day, Fairchild Camera fell 14⅜, and Motorola on the final day of trading plunged 23¾ points, from 182 to 158¾. In all during the week, 973 stocks hit new lows for the year...