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International Uneasiness Rattles Markets

Associated Press

Stocks fell Monday as many investors sold holdings to take profits, evidently concluding that healthy third-quarter corporate earnings may not carry over into the next quarter.

The Dow Jones industrial average fell 39.28 to 4,755.48. Declining issues led advancers by a decisive 2-to-1 margin on the New York Stock Exchange. Big-Board volume was 329.72 million, down from 388.14 million Friday.

The initial catalyst for the sell-off was weakness in the U.S. bond and currency markets, and in overseas stock markets.

Concerns about Quebec’s upcoming secession vote rattled the Canadian financial markets, and the Toronto composite index lost about 2 percent.

Some of the stocks that moved substantially:

NYSE

Data General Corp., rose 1-1/2 to 12-5/8.

The Westboro, Mass. maker of business computer systems reported quarterly earnings of 4 cents per share while most analysts had predicted a loss.

Advanced Micro Devices Inc., up 1-3/8 to 27-1/2.

The maker of computer chips continued to rise, following announcement of its merger with competitor NexGen Inc. of Milpitas, Calif. NexGen gained 3/8 to 21-5/8 in Nasdaq trading.

Liz Claiborne Inc., up 2 to 25-3/4.

The New York fashion designer reported higher quarterly profits of 64 cents, despite lower sales. The company credited lower markdowns and cuts in operating expenses.

First Interstate Bancorp, down 7-7/8 to 129-7/8.

Wells Fargo, fell 5-7/8 to 216-7/8.

PaineWebber Inc. downgraded the company from “neutral” to “sell.” Stepping up the pressure in its bid to take over First Interstate, Wells Fargo said it intends to begin buying the bank’s stock to push the deal forward.

NASDAQ

U.S. Healthcare Inc., rose 1-1/4 to 37.

The Blue Bell, Pa. health maintenance organization reported quarterly earnings of 60 cents per share. Although that was a decline from last year’s 63 cents, the company said its enrollment grew 20 percent and it had stabilized its medical costs and brought them in line with its goals.

Profitt’s Inc., fell 5-1/8 to 23-5/8.

The Southeast regional department store chain agreed to buy Younkers Inc., a Midwest regional chain for about $253 million in stock. Younkers gained 3-9/16 to 22-5/8.

AMEX

DIMAC Corp., rose 2-7/8 to 26-1/8.

The Bridgeton, Mo., direct mail marketer agreed to be bought by Heritage Medic Corp., of Dallas, a provider of in-store music and advertising services for supermarkets and drug stores. The price was $265 million or about $28 per share. Heritage gained 7/8 to 29-5/8.