RICH-VICKS IS THE ONLY BREEZE ON A SULTRY AUGUST INDEX; COMPOSITE DIPS BELOW 600
Rich-Vicks (up 2-5/8 to 38-1/2) was the single bright spot on the "F-D-C" Weekly Index for the week ended Aug. 9. The company's 7.3% rise, fueled in part by continued rumors that the firm is for sale, defied the overall trend on Wall Street. McKesson (up 1/8 to 41-7/8) and American Home (up 1/4 to 60-1/4) were the only other of the 24 Diversifieds which showed any increase. Carter-Wallace (down 4 to 34) was the big loser after the company announced early last week that it had stopped clinical trials for its heart drug, bepridil. The Composite dipped below the 600 level for the first time since June 24. Its 1.7% decrease from the previous week kept it slightly ahead of the Dow Jones average, which dropped 2.4%, finishing the week at 1320.79. Erbamont (up 3/8 to 12) and Searle (up 3/8 to 64-7/8) were the only Pharmaceuticals posting gains, while among the Chains, Genovese (up 1/4 to 12-1/4) and Perry (up 1-3/4 to 22-3/4 were the sole winners. Chart omitted.
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