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

Sat., Jan. 24, 1998

What’s hot

In a week filled with stories of a president and a pope, profits were still on some people’s minds.

Compaq Computer shares rose $2.38 to $32.19 Wednesday on the Nasdaq as quarterly profits rose 37 percent. The Houston-based computer maker closed the week at $31.75. Qualcom shares jumped $6.63 to $54.13 Wednesday (Nasdaq) as Merrill Lynch upgraded its rating on the San Diego-based communications technology company. Qualcom closed the week at $54.44. When Albertson’s announced it would acquire Buttrey Food & Drug Stores, shares of the Great Falls, Mont.-based chain gained $4.50 to $15.25 Tuesday on Nasdaq. Buttrey closed the week at $15.38.

What’s not

Two New York Stock Exchange titans closed the week below the benchmark $100-a-share level. As quarterly profits grew less than expected, IBM shares dropped $8.25 to $100.13 Wednesday and continued to slide, closing the week at $99.19. Citing links to the Asian crisis, quarterly profits fell 35 percent for New York banker J.P. Morgan and shares dropped $1.63 to $105.25 Tuesday. The bank stock took a $3.44 hit Friday to close the week at $99.44.

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