Word: first-half
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Gone in a Weekend. The Swinger arrives on the scene at a time when both buyers and investors seem to be more in love with Polaroid than ever. The company's first-half sales jumped 32% (to $68 million) and its profits increased 69% (to $8,500,000). The two new color cameras have moved so well that Polaroid is selling almost four times as many cameras as last year, cannot keep up with demand. In the past two months Polaroid's stock has shot up from 65 to 85. While the blue chips in the Dow-Jones...
...whom, ten giants led by S. & H. account for 90% of stamp distribution). The total of stamp outlets has increased, but the number of supermarkets distributing stamps has decreased. To offset supermarket losses, the stamp companies have been cultivating new clients. Sperry & Hutchinson, which reported a 5% increase in first-half sales, also had a 29% jump in sales of stamps to 4,000 corporations, including Westinghouse, RCA and Du Pont. The stamps are used as incentives for salesmen or safety awards for workers; in case U.S. women tire of trading stamps, the industry may turn...
...massive reorganization program to bolster its lagging sales and earnings. The world's biggest steelmaker chopped its executive payroll, closed down or consolidated overlapping divisions and offices and sharply increased its research and capital expenditures. The effort is only now beginning to pay off. U.S. Steel's first-half earnings, while still substantially below those of the mid-50s, were 38% higher than in 1964. Sales were up 26%. Last week, determined to maintain the new momentum, Board Chairman Roger Blough announced plans for the most extensive financial reorganization and the greatest capital expenditure program in the company...
...federal revenues will increase some $7 billion this year. The two largest steel manufacturers, U.S. Steel and Bethlehem, reported last week that second-quarter profits were, respectively, 34% and 12% higher than in the same period last year. General Motors' second-quarter earnings were up 6%, and its first-half profits of $1,274,843,649-by far the largest for any corporation in history-surpassed its full-year profits for any year prior to 1962. Toting up the results of 526 companies that it regularly surveys, the Wall Street Journal calculated that their total profits had risen...
Bonanza. Simon's investment is worth about $22 million at current prices, has been rapidly appreciating. Price of the stock has doubled in the past 18 months, and last week President Leonard Goldenson reported that the company's first-half earnings rose 41% above the same period last year, to a record $7.6 million. From a lagging third place among the three television networks, ABC under Goldenson's gifted goading has risen to a point where it is neck-and-neck with NBC and CBS. Stockholder Simon has reason to appreciate the Goldenson touch, but may well...