Newspaper article THE JOURNAL RECORD

Stock Market Makes Small Gains, Dow Jones Up 5.14 Points

Newspaper article THE JOURNAL RECORD

Stock Market Makes Small Gains, Dow Jones Up 5.14 Points

Article excerpt

Stock Market Makes Small Gains, Dow Jones Up 5.14 Points NEW YORK _ The stock market struggled to a small gain Monday in a session dominated by a new outburst of merger-inspired activity in bank issues. The Dow Jones average of 30 industrials, which had slipped 10.06 points last week, rose 5.14 points to 3,001.34. Advancing issues slightly outnumbered declines on the New York Stock Exchange. Big Board volume came to an estimated 145.46 million shares as of 4 p.m. EDT, against 143.61 million at the same point Friday.

Delta Wins Clearance to Buy Majority of Pan Am NEW YORK _ Delta Air Lines won clearance to buy most of Pan Am Corp. in a $1.39 billion deal that will make Delta a mega-carrier and keep Pan Am flying into Latin America, where it pioneered commercial aviation in the 1920s.

The agreement approved Monday by a federal bankruptcy judge is one of the largest transfers of airline assets in history, and came with only days left before Pan Am would have run out of cash and been forced to shut down.

Justice Department Asked to Probe Meat Pricing WASHINGTON _ Beef prices are falling at the feedlot but consumers aren't paying less for their steaks and hamburger at the grocery store, causing lawmakers and the Justice Department to question how meat is priced. Nebraska senators Bob Kerrey and James Exon say supermarket chains are not passing along to consumers lower prices being paid at the feedlot, where ranchers and feedlot operators themselves are struggling with higher prices for supplies and mounting losses.

Eastman Kodak to Cut 3,000 Employees ROCHESTER, N.Y. _ Eastman Kodak Co. said it will trim its work force by 3,000 employees as part of a new restructuring that will reduce the photography giant's involvement in business information products. The Rochester-based company also said Monday it will take a $375 million charge against its third-quarter earnings. …

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