Word: fairchild
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Dates: during 1950-1959
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Byse was discussing a statement made by Henry M. Hart, Charles Stebbins Fairchild Professor of Law, which deplored the inadequate tradition among law school faculties of "disinterested criticism" of the Court's decisions...
...hardest fall was taken by the highest flyers, the space-age electronics stocks, which have soared giddily in recent months. Fairchild Camera & Instrument Corp. fell 23¾ points on the American Exchange. So great was the confusion when trading in Fairchild Camera was suspended temporarily that Exchange President Edward T. McCormick went onto the floor to discuss the break at Fairchild's trading post. Other electronics stocks followed; Texas Instruments fell 3⅞, IBM 2½. Zenith 4⅛, Litton...
...than four times as much as the market as a whole since January 1958 (see chart), have outpaced every other stock group. The average ratio of price to earnings among electronics stocks is more than 25 to 1, and some have been selling at up to 100 times earnings. Fairchild Camera soared from 91½ in April to 205 within three months, before dropping back to 142¾, where it is still at 50 times earnings; Texas Instruments has risen from 98⅜ to 128¼ since April, is now selling at 40 times earnings...
...averages dropped 6.31 points in the week, led downward by the electronics stocks. Electronics manufacturers were flying high; Texas Instruments reported alltime-high second-half earnings of $1.62 per share v. 66? last year. Its stock dropped 20⅜ points during the week to close at 126⅛. Volatile Fairchild Camera & Instrument Corp. announced first-half earnings of $1.61 per share v. a $104,000 loss last year, but its shares fell 23 points...
...Spurring the industry's hopes is the rising level of U.S. consumer spending. Department-store sales in the week ending June 13 were 3% over last year, despite a sales-crippling newspaper strike in St. Louis. Fairchild News Service's own survey, covering specialty shops as well as department stores, showed a sales jump of 4% over the preceding week, the tenth such weekly rise. Another big reason for confidence is that manufacturers this year took pains to study their market. Many sent their designers on nationwide tours to sound out stores and shoppers on the kind...