Word: motorola
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...reflected in lower earnings. Morning after the Argus report, a big mutual fund, with its own pessimistic conclusions about Fairchild, offered a block of 100,000 shares; almost immediately, a second fund came in with another 100,000. Now everyone seemed to be selling Fairchild-and Texas Instruments and Motorola into the bargain. The M. J. Meehan Co., the Street's respected Fairchild specialist, valiantly tried to buy, but could not absorb all the available shares, lost a rumored $500,000. Fairchild itself dropped 191 points by the closing; Texas Instruments was down 151, Motorola 101. Next day, although...
...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 stocks were high; bankers have been calling many of these men to put up more collateral...
More Strain Than Gain. The draft, and the tendency of more and more students to stay in college to preserve their draft-free status, are heightening the already severe labor shortage. Motorola Corp. Chairman Robert Galvin last week cited the labor squeeze as a prime reason why the company's earnings are expected to drop in this year's second half. To recruit, some companies resort to blind mailings; Automatic Electric Co. recently sent letters to people living near its Chicago plant, asking, "Are you happy with your job?" By contrast, the Pennsylvania Power & Light Co. has more...
...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, the largest number to do so since that calamitous week...
...ROBERT W. GALVIN, chairman of Chicago-based Motorola, Inc.: "I see a continued rise through 1967. Whether auto production is up or down 2% doesn't matter. The new technology will result in new products and new demand. Technology is making the present means of production obsolete, so we have to invest to stay in business and capital investment will thus stay high. I don't see any break in the confidence of businessmen...