Word: marketed
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Dates: during 1970-1979
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...years had Wall Street investors seen anything quite like the market's current high-rolling fad: gambling on gambling. All summer long, shares in companies that operate casinos-and many other outfits only remotely or even mistakenly associated with them-have been soaring higher than a Vegas showgirl's kicks. As the Labor Day holiday approached, the speculation became so frantic that for a time it seemed the gambling bubble was about to burst. But last week gaming issues bounced back strongly...
...send its stock flying, all a company has to do is hint that it might get into gambling. Shares of Ramada Inns, which is merely rumored to be interested in diversifying into gaming, have risen 267% this year. Reflecting the market's irrationality as well as its volatility, Wurlitzer, the jukebox producer, climbed several points after announcing that it was not expanding into slot machines. Though worried by the jumpiness of the stocks, the New York and American exchanges had been reluctant to do anything that might spoil the action that is profitably increasing volume and enticing people into...
...initial margin requirements for gambling issues from 50% to 75%-meaning that buyers would have to put up at least $750 for every $1,000 stock purchase. The Big Board said it was acting "to insure the protection of public investors and the maintenance of a fair and orderly market." One firm, A.G. Becker of Chicago, banned all credit on five particularly jittery stocks. These moves depressed the gaming issues, but not for long. Indeed, the gambling-stock rebound last week helped spark a broad market rally. The Dow Jones industrial average rose 28 points, closing...
Brokers are sharply divided on the merits of the gambling mania. Some regard it as a welcome sign that the small investor is at last returning to the market. Many more would agree with E.F. Hutton Vice President Anthony Correra, who warns that gambling stocks "have run up too far, too fast. We think traders should sell and take their profits while they can." That is what the smart money may have been doing. In June, Securities and Exchange Commission records show, Resorts officers sold 24,800 shares in their own company, which were then valued at $1.87 million...
Some 350 American companies have invested a total of $1.5 billion in South Africa, and they are the chief purveyors of its modern technology and consumer goods. Ford, South Africa's biggest automaker (1977 sales: 42,874 vehicles), and GM together account for 26% of the automotive market. Goodyear, General and Firestone dominate tire sales; Exxon, Mobil and Caltex are leaders at the fuel pumps. Kellogg's cereals are found on 40% of South Africa's breakfast tables, and Otis elevators convey riders in two of every five office buildings. IBM enjoys a near monopoly in data...