Stocks Advance Into Quarter’s End

A late burst of profit-taking and other quarter-ending portfolio shifts cut into a broad advance Friday, but some stock measures edged high enough to set records.

The Dow Jones industrial average rose just 9.25 to 5,882.17, having retreated from a 30-point gain that would have broken last Monday’s record close of 5,894.74.

Most broad measures withstood the late selling for a positive finish. Much of the volatility was attributed to last-minute positioning by money managers trying to put a shine on their quarter-ending reports.

“There’s a lot of money moving around, but a pretty nice tone,” said Andrew M. Brooks of T. Rowe Price Associates in Baltimore. “September made up for July.”

Some of the stocks that moved substantially or traded heavily Monday:

NYSE

Kmart, up 1 at 10-1/4.

The Troy, Mich.-based discount retailer announced plans to sell children’s apparel decorated with Sesame Street characters, beginning in July 1997. In addition, Morgan Stanley upgraded the stock to strong buy from outperform.

ADT, down 7/8 at 19.

Republic Industries (Nasdaq), up 1-3/4 at 29.

ADT terminated its previously announced merger agreement with Republic Industries, citing uncertainty in stock market conditions. Republic Industries has solid-waste, automotive, electronic security and media businesses. ADT is a home-security and vehicle auction company.

Lucent Technologies, up 2-1/4 at 45-7/8.

AT&T, up 7/8 at 52-1/4 AT&T began distributing 525 million shares in Lucent Technologies, the newly spun off company, to the 3.3 million people who own AT&T stock. Lucent includes Bell Labs, AT&T’s venerable research and development arm.

NASDAQ

WorldCom, up 1/4 at 21-3/8.

MFS Communications, up 1-1/4 at 43-5/8.

PaineWebber upgraded WorldCom, saying that after its $12 billion merger with MFS Communications, it will be well positioned to capitalize on changes in the telecommunications industry. The brokerage firm said the recent 20 percent decline in WorldCom’s shares is a buying opportunity.

AMEX

Viacom class B, up 1 at 35-3/8.

Simon & Schuster, the publishing unit of Viacom, said it formed an alliance with Harvard Medical School to publish books and electronic products for the consumer and professional health-care markets.