Word: stockly
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Dates: during 1950-1959
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...Italy's financial capital of Milan last week, a lethargic stock market suddenly rallied. Conservative Italian newspapers congratulated the nation's politicians on their good sense. Ostensible cause for the rejoicing: the appointment of 68-year-old Antonio Segni as Italy's new Premier. A more fundamental cause: the fact that after months of talk about an inevitable drift toward socialism, Italian politics had taken a sharp right turn...
There was still talk that stocks were rising because they were a hedge against inflation. Yet in the last six months there has been almost no inflationary increase. More important to market traders was the gain in industrial activity, and the flood of bright earnings reports and stock splits that accompanied...
...half a dozen companies weighed in with stock splits and higher dividends. Rocket enginemaker Thiokol Chemical Corp., drugmaker Chas. Pfizer and Colgate-Palmolive split three for one, Lily-Tulip Cup two for one. Eastman Kodak, whose stock has nearly doubled in value, to $152.50 a share in the last two years, voted a new share of stock for each one held, then tacked another 9? per share onto its dividend. With that kind of news last week, who could blame anyone for buying a share of U.S. industry...
BROKERS' COMMISSIONS on stock transactions under $2,400 will be reduced by the New York Stock Exchange. Adjustments, effective March 30, will cut last May's rate increases from 13% to 11.5%, abolish "round-turn" commissions, where customers pay half the regular rate on blocks of stock bought and sold within 14 days...
...president of F. L. Jacobs Co., the diversified holding company for his 13 (at last count) corporations. In as chairman went beefy (225 Ibs.) Hal Roach Jr., whose heavy interests in Hal Roach Studios and Mutual Broadcasting System, two Jacobs' affiliates, spurred him to purchase Guterma's stock interests in F. L. Jacobs. Said Roach: "I want to get what I believe is an inherently good company back in shape." But SEC insisted that the only way to achieve that was for F. L. Jacobs to be placed in the hands of a court receiver. Charged SEC: Jacobs...