Profit-Taking Subdues Stock Market

The stock market crawled through a subdued session to a lower close Monday although rising oil prices perked up energy issues.

Profit-takers took charge in the market but Wall Street’s retreat was kept in check by lingering euphoria over recent reports of robust corporate profit growth in the first quarter.

Despite an improvement in late trading, the Dow Jones industrial average closed with a small loss and broader market measures also ended in deficit.

The Dow dipped to 4,316.08, down 5.19 from Friday’s record finish. The New York Stock Exchange composite index slipped 0.17 to 277.14, Standard & Poor’s 500 stock index fell 0.45 to 514.26 and the Nasdaq Stock Market composite receded 2.35 to 841.63. The American Stock Exchange market value index rose 2.57 to 480.13.

Losing Big Board stocks outnumbered gainers by about 9 to 8. Volume on the NYSE floor amounted to 296.78 million shares.

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

NYSE

Genentech, down 2 3/8 to 48 in heavy NYSE volume of more than 3.8 million shares

The stock retreated on news that Genentech has extended for four years pharmaceutical maker Roche Holding Ltd.’s option to buy the rest of the biotech company.

Mobil, up 3 7/8 to 98 3/4 in heavy NYSE volume of more than 1.7 million shares

The stock was in the spotlight as the huge multinational oil company announced it will lay off 4,700 employees worldwide as part of a restructuring Mobil estimated would save $1.05 billion in annual costs.

Exxon, up 1 3/8 to 70 7/8 in heavy NYSE volume of more than 2 million shares. Oil and oil field services stocks attracted investors as crude prices rose in response to President Clinton’s decision to sever all U.S. economic ties to Iran.

NASDAQ

Danka Business, down 3 1/2 to 23 7/8 in heavy Nasdaq volume of more than 3.4 million shares

The company’s quarterly net income came to 23 cents a share, up from 17 cents a share a year earlier.

Intel, up 1 3/4 to 104 1/8 in Nasdaq-leading volume of more than 7.1 million shares

The brokerage Bear Stearns & Co. said the firm’s earning potential in 1996 has improved.

AMEX

Champion Enterprises, up 1 5/8 to 31 5/8 in heavy American volume of about 184,000 shares

The company declared a 2-for-1 stock split and authorized a buyback of up to $10 million.