The Ticker A Look Back At The Past Week On Wall Street

WHO’S HOT

Despite all the bad news this week, there were a couple of companies that were able to report something positive. CD Radio and American Mobile Satellite each won licenses for a new radio service promising high-quality sound that can be heard anywhere in the country. Wall Street liked the sound of that, jumping CD Radio’s stock up more than 75 percent Wednesday. On Friday, it rose another $.15-3/5 to finish the week at $11.78. AMS ended the week at $11.25 after rising $.25 Friday.

WHAT’S NOT

As the Dow slowly sunk this week, one of the Street’s biggest players started to slide. IBM felt the wrath of analysts, who, according to the Wall Street Journal, where downgrading their 1997 earnings estimates for Big Blue. IBM’s stock fell $2.62-1/2 Thursday and another $1.87-1/2 Friday, ending the week at $129.25. … The pain was felt in smaller companies too, with Connect, the California-based Internet software company, losing half its stock value Thursday (down $2) when it announced first-quarter revenues and profits were expected to be “disappointing.” It dipped again Friday, falling $.31-1/4 to $1.68-3/4. Connect did say, however, that because it relied so heavily on small orders, revenue projections were iffy at best.