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

Sat., Aug. 9, 1997

WHAT’S HOT

This week’s trading was highlighted by Apple Computer’s offer to Microsoft for its former rival to take a bite of its product.

The two companies unveiled the alliance, which includes a $150 million Microsoft investment in Apple. Apple agreed to drop a dispute over whether Microsoft infringed on Apple’s patent with its Windows operating system. Apple’s stock shot up $6.82 to $26.56 on Wednesday on the NASDAQ and closed at $26.81 a share Friday, up from last week’s close of $19.19. Microsoft’s shares closed at $140 on Friday, almost even with last week’s close of $140.63 on the NASDAQ.

WHAT’S NOT

On Tuesday, Aetna of Hartford, Conn., plunged $14.25 to $102.75 a share on the NYSE. The insurance company reported second-quarter earnings that met analysts demands, but gave a disappointing assessment of business conditions, analysts said. Aetna closed at $97.63 on Friday, down from last week’s close of $114. … Wet Seal, the casual-apparel retailer said its second-quarter earnings would be lower than expectations. On Thursday, its stock tumbled $7.56 to $19.13 on the NASDAQ. The Irvine, Calif., company said sales had been slow. Its stock closed at $19.25 on Friday, down from last week’s close of $27.

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